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Are financial decisions easy?
As most employers are favouring work from home concept which become a norm post-pandemic, there has been consistent demand for good quality accommodation driven by end-users which is also driving the need for suitable mortgage options.
A mortgage loan is a certain amount of money that an individual borrows from a bank or any other financial institution at a definite rate of interest which has to be paid along with EMI. This loan can be taken for buying a new property, upgrading the existing one, or constructing a new one.
If a borrower fails to repay the loan amount, the lender can liquidate the property bought by the borrower through a loan and recover their loan amount.
Home loan in UAE is something that most people search for when they plan on buying any property in UAE. With a lot of leading banks offering home loans, it may be difficult to decide the most suitable mortgage loan option. Hence Soulwallet can assist you with the best home loan in UAE by sharing few points below to remember while you select the home loan:
Most of the home loans are generally offered to both off plan and constructed and ready to move properties.
An individual is eligible for a home in UAE if the below criteria are fulfilled:
Looking for a home/mortgage loan in UAE? Soulwallet.com can be the best option to search for home loans as per your requirements online. The best thing you get is to compare the home loan options by different banks in one place along with the Home loan EMI calculator to make the decision-making process more quick and easy.
| Bank Name | Product Name | Minimum Salary | Fixed Rate | Reducing Rate | Max Loan Amount | Down Payment |
|---|---|---|---|---|---|---|
| ADCB | Home Saver Loan | 15,000 | 0.0 | 0.0 | 24,000,000 | 20% |
| ADCB | Standard Mortgage Loans | 15,000 | 24,000,000 | 20% | ||
| ADIB | Home Loan for UAE Nationals | 10,000 | 2.06 | 3.75 | 20,000,000 | 20 |
| ADIB | Home Loan for Expats | 15,000 | 2.06 | 3.75 | 15,000,000 | 25 |
| CBD | Mortgage Loan | 12,000 | 1.65 | 2.99 | 15,000,000 | 25 |
| CBI | Home Loan for Salaried Individuals | 15,000 | 0.0 | 3.75 | 10,000,000 | 25% |
| CBI | Home Loan for Business Owners | - | 0.0 | 0.0 | 15,000,000 | 25% |
| EIB | HOME FINANCE - BINA'A | 8,000 | 0.0 | 0.0 | 15,000,000 | 20% |
| Emirates Islamic | Home Finance - Manzili | 15,000 | 1.92 | 3.49 | 15,000,000 | 20 |
| Emirates NBD | Home Loan for Expatriates | 20,000 | 2.89 | 5.25 | 15,000,000 | 25 |
| Emirates NBD | Commercial Properties Financing | 25,000 | 2.75 | 4.99 | 7,000,000 | 40 |
| Emirates NBD | Home Loans for UAE Nationals | 10,000 | 2.89 | 5.25 | 15,000,000 | 20 |
| FAB | Home Loan | 15,000 | 2.75 | 4.99 | 20,000,000 | 20 |
| FAB | Islamic Home Finance | 15,000 | 2.75 | 4.99 | 20,000,000 | 20 |
| HSBC | HSBC New Home Loan | 15,000 | 0.0 | 3.49 | 20,000,000 | 25% |
| Mashreq | Commercial Mortgage Loans for UAE Residents | 40,000 | 0.0 | 0.0 | 10,000,000 | 20 |
| Mashreq | Home Loans for Residents | 12,000 | 0.0 | 0.0 | 15,000,000 | 20 |
| NOOR | Buy Out Finance | 10,000 | 0.0 | 0.0 | 25,000,000 | |
| NOOR | Ready Property Finance | 10,000 | 0.0 | 0.0 | 25,000,000 | 25%(Expats)/ 20% (UAE Nationals) |
| RAKBANK | Mortgage Home Loan | 15,000 | 0.0 | 3.24 | 25 | |
| RAKBANK | Home In One | 15,000 | 2.69 | 4.87 | 25 | |
| SIB | Real Estate Finance | 25,000 | 0.0 | 3.31 | 25% | |
| Standard Chartered | Saadiq Home Finance | 30,000 | 1.95 | 3.53 | 18,000,000 | 20 |
| Standard Chartered | Mortgage One Account | 30,000 | 1.95 | 3.53 | 18,000,000 | 20 |
| UNB | Easy Home Loan | 15,000 | 0.0 | 0.0 | 8,000,000 | 25% |
Eligibility : All UAE residents (UAE Nationals and Expatriates) and non-residents earning sufficient income from either a salary or from running a company (self-employed), are eligible to apply for an ADCB Mortgage (Min AED 75,000 pm average credit turnover for self-employed) The applicant if an UAE resident (Nationals & Expatriates), must be aged 21 and above, and if a Non-resident must be aged 25 and above to be eligible for a mortgage from ADCB.
Processing Fee : 1% of the Loan Amount
Documents Required : Salaried Individuals Identity & Age proof Salary Certificate Copy of property allotment letter Buyer Agreement 3 to 6 months bank statements Self-employed Individuals Identity & Age proof Copy of Trade License Copy of property allotment letter Buyer Agreement 3 to 6 months bank statements The bank may request additional documents from the customer if required.
Eligibility : All UAE residents (UAE Nationals and Expatriates) and non-residents earning sufficient income from either a salary or from running a company (self-employed), are eligible to apply for an ADCB Mortgage (Min AED 75,000 pm average credit turnover for self-employed)
Processing Fee : 1% of the Loan Amount
Documents Required : Salaried Individuals Identity & Age proof Salary Certificate Copy of property allotment letter Buyer Agreement 3 to 6 months bank statements Self-employed Individuals Identity & Age proof Copy of Trade License Copy of property allotment letter Buyer Agreement 3 to 6 months bank statements The bank may request additional documents from the customer if required.
Eligibility : Minimum 21 Years , Verified employment, UAE Nationals
Processing Fee : 1%
Documents Required : Valid salary certificate, Additional income verification, Passport copy, Khulaset Al Kaid (Family book for UAE Nationals only, Bank Statement
Off Plan Finance : yes
Eligibility : Minimum 21 Years, Verified employment, UAE Nationals
Processing Fee : 1%
Documents Required : Valid salary certificate, Additional income verification, Passport copy, Bank Statement
Off Plan Finance : yes
Eligibility : Salaried individual (UAE Nationals and Expatriates) Aged between 21 and 65 years (at loan maturity) Minimum monthly income of AED 12,000 Minimum length of service of 6 months If you are self-employed (UAE Nationals and Expatriates) Aged between 21 and 70 years (at loan maturity) Minimum monthly income of AED 20,000 Minimum length of 3 years in business
Processing Fee : 0% (Limited time offer)
Documents Required : Salaried individual: Application form, consent letter, authorization letter for Bureau check. National ID or valid passport, residence visa and Emirates ID. Original 3 months bank statement for new customers. Salary Certificate Self-employed: Application form, Authorization letter for lending and consent letter for Bureau check, Copy of Trade License, Chamber of Commerce Registration, Memorandum and Articles of Association, Original 12 months company and personal bank statements for new customers. Additional documents may be applicable as per underwriting terms and eligibility criteria
Off Plan Finance : yes
Eligibility : UAE National or Expatriate residing in UAE Age: 21 and above Min Salary of AED 15,000 PM
Processing Fee : -
Documents Required : Valid passport for UAE Nationals Valid passport and UAE residence Visa for Expatriates. Valid Emirates ID Salary Certificate Salary Transfer Letter (For Salary Transfer Loan applications) Last three month’s bank statements Liability or clearance letter (when switching loan from another lender)
Off Plan Finance : -
Eligibility : UAE National or Expatriate residing in UAE Age: 21 and above
Processing Fee : -
Documents Required : Valid passport for UAE Nationals Valid passport and UAE residence Visa for Expatriates. Valid Emirates ID Income Documents Last three month’s bank statements Liability or clearance letter (when switching loan from another lender)
Off Plan Finance : -
Eligibility : Salaried or Self-Employed individuals UAE Nationals
Processing Fee : -
Documents Required : Copy of valid passport (original required for verification) Copy of "Khulasat Al Qaid" or National ID (original required for verification) Original Salary Certificate less than 45 days old providing details on length of employment, current designation and salary package OR Salary Transfer Letter in case Salary is transferred to Emirates Islamic containing details on length of service, current designation and salary package.* Last 6 months bank statements reflecting salary credits Liability letter less than 30 days old reflecting borrowings with the bank to which your salary is transferred Originals of property details including the Quote/Offer Letter from the seller, Sale and Purchase agreement, Title Deed/Mulkia and Site Plan In case of Sheikh Zayed Housing Program (SZHP) and Mohammad Bin Rashid Housing Establishment (MBRHE) copy of valid facility approval * Please Note: For Government/Semi Government organizations, salary credited to the customer's Emirates Islamic Back Account will be considered as evidence of assignment.
Off Plan Finance : -
Eligibility : Salaried or Self Employed individual Resident Expatriates, UAE Nationals Age - 21 and above
Processing Fee : 1%
Documents Required : Salaried Residents: Copy of valid passport with a valid residence visa for Expatriates and National ID for Nationals, Copy of labour contract, Original Salary Certificate less than 45 days old providing details on the length of employment, current designation, and salary package OR Salary Transfer Letter in case Salary is transferred to Emirates Islamic Last three months’ pay slips (if applicable), Last 6 months bank statements reflecting salary credits, Liability letter less than 30 days old reflecting borrowings with the bank to which your salary is transferred. Originals of property details including the Quote/Offer Letter from the seller, Sale and Purchase agreement, Title Deed and Site Plan Receipts of down payment made to the seller
Salaried Non-Residents:Copy of valid passport (original required for verification), Original Salary Certificate less than 45 days old providing details on the
length of employment, current designation and salary package Last three months’ pay slips (if applicable), Documentation from your bank including Last 6 months bank
statements reflecting salary credits,Liability/Reference letter no more than 45 days old Latest tax returns for the previous 2 years (if applicable), Credit Bureau
Report (if applicable Originals of property details including the Quote/Offer Letter from the seller, Sale and Purchase agreement, Title Deed and Site Plan Receipts
of down payment made to the seller.
Self-Employed Residents: Copy of valid passport with a valid residence visa for Expatriates and National ID for Nationals
(original required for verification), Business-related documentation (originals required for verification) Copy of trade license Copy of Chamber of Commerce
Registration Copy of Partnership Page in case of multiple partners Copy of Memorandum/Articles of Association, Original Audited Financials for the last 2 years Copy
of Labour Contract Last 12 months Business Account Statements (6 months is acceptable but not preferred), Last 6 months Personal Account Statements, Originals of
property details including the Quote/Offer Letter from the seller, Sale and Purchase agreement, Title Deed and Site Plan Receipts of down payment made to the seller
Off Plan Finance : yes
Eligibility : Salaried or Self-Employed individual Resident Expatriates
Processing Fee : 1%
Documents Required : Identification Documents: Original Emirates ID and Emirates ID copy, Valid Passport Copy with valid Resident Visa page (Old Passport copy if Visa is stamped on old Passport) Income Documents: Salaried Individual Latest Salary certificate addressed to Emirates NBD, Latest Pay slips (in case of more than 10% variance in Salary), Previous employment proof if less than 3 years, Latest 6 Months Bank statement Self-Employed: Valid Trade License copy Plus MOA (Memorandum of Association) including all amendments, Latest 6 Months Bank statement, Latest 2 years audited financial
Off Plan Finance : yes
Eligibility : Self Employed individuals UAE Nationals or Resident Expatriates
Processing Fee : 1%
Documents Required : Identification: Original Emirates ID and Emirates ID copy Valid Passport Copy with valid Resident Visa page (Old Passport copy if Visa is stamped on old Passport) ; Income: Salaried Individual Latest Salary certificate addressed to Emirates NBD Latest Pay slips (in case of more than 10% variance in Salary) Previous employment proof if less than 3 years Latest 6 Months Bank statement ; Self-Employed Valid Trade License copy Plus MOA (Memorandum of Association) including all amendments Latest 6 Months Bank statement and Latest 2 years audited financial
Off Plan Finance : yes
Eligibility : Salaried or Self-Employed individual Resident Expatriates
Processing Fee : 1%
Documents Required : Identification: Original Emirates ID and Emirates ID copy Valid Passport Copy with valid Resident Visa page (Old Passport copy if Visa is stamped on old Passport) ; Income Documents: Salaried Individual Latest Salary certificate addressed to Emirates NBD Latest Pay slips (in case of more than 10% variance in Salary) Previous employment proof if less than 3 years Latest 6 Months Bank statement ; Self-Employed Valid Trade License copy Plus MOA (Memorandum of Association) including all amendments Latest 6 Months Bank statement Latest 2 years audited financial
Off Plan Finance : yes
Eligibility : Available for UAE Nationals and residents Minimum age 21 and maximum age 70 for UAE Nationals and 65 for non UAE Nationals or 70 years if self-employed
Processing Fee : -
Documents Required : Completed & signed home finance application form Valid Emirates ID, passport & valid residence Visa for non UAE Nationals Property documents Income documents Any other documents deemed necessary
Off Plan Finance : yes
Eligibility : Available for UAE Nationals and residents Minimum age 21 and maximum age 70 for UAE Nationals and 65 for non UAE Nationals or 70 years if self-employed
Processing Fee : 0.50%
Documents Required : Completed & signed home finance application form Valid Emirates ID, passport & valid residence Visa for non UAE Nationals Property documents Income documents Any other documents deemed necessary
Off Plan Finance : yes
Eligibility : Aged 21 to 65 years 65 for salaried and 70 for self–employed/UAE Nationals Minimum income of AED15,000 per month Salaried or Self-Employed Customers residing outside the UAE applying for a mortgage will only be considered if they are Premier customers and meet the HSBC lending criteria
Processing Fee : -
Documents Required : Passport & Visa copy Emirates ID Card copy Last 6 months personal bank statement Employment letter Last Salary slip / Employer Letter Property ownership documents Proof of Customer’s contribution towards payment of property/ Equity payment (where applicable)
Off Plan Finance : -
Eligibility : Salaried or Self Employed individuals UAE Nationals or Resident Expatriates Minimum monthly income of AED 50,000/- for Salaried Individuals & AED 40,000/- for Self Employed Individuals
Processing Fee : -
Documents Required : Application Form Valid Passport & Visa copy Salary certificate (Previous employment certificate if less than a year) Bank statements – 6 months Liability letter (if any) Property documents – Title Deed Self Employed Application Form Valid Passport & Visa copy Trade License Copy of Chamber of Commerce Registration Memorandum & Articles of Association Financial statements audited of last two years Profile of the business on company letter head Bank statements – Company & Personal for 6 months Liability letter (if any) Property documents – Title Deed
Off Plan Finance : -
Eligibility : Salaried or Self Employed individuals UAE Nationals or Resident Expatriates Minimum monthly income of AED 15,000/-
Processing Fee : -
Documents Required : Salaried Application Form Valid Passport & Visa copy Salary certificate (Previous employment certificate if less than a year) Bank statements – 6 months Liability letter (if any) Property documents – Sale Agreement Proof of down payments Self employed Application Form Valid Passport & Visa copy Trade License Copy of Chamber of Commerce Registration Memorandum & Articles of Association Financial statements audited of last two years Profile of the business on company letter head Bank statements – Company & Personal for 6 months Liability letter (if any) Property documents – Sale Agreement Proof of down payments Letter indicating intent for use of property for rental or Investment purpose as per banks format
Off Plan Finance : -
Eligibility : UAE Residents: UAE nationals and all expatriate nationalities Non-residents : Residents of GCC countries, a wide range of G20 countries, Pakistan and Singapore. Salaried: Minimum Salary requirement of AED 10,000 per month, No salary transfer required For Self-employed: Average Credits of AED 50,000 per month. Minimum Age for all primary applicants is 23 years UAE Nationals: Maximum Age at maturity for 70 years Expatriates: Maximum Age at maturity for Salaried is 65 years, and Self employed is 70 years
Processing Fee : -
Documents Required : Documents Required for Initial Approval (Pre-approval) All Identification documents Income documents: Salaried Customers Original Salary Certificate Original/Copy of Payslips (if required) Last 3-6 months Personal Bank statements, depending on employer profile Self-employed customers Copy of Valid Trade License Last 3 months Personal Bank statements Last 6 months/ 12 months Company Bank statements Copy of 2 years audited financials. Documents Required for Final Approval Original and Valid Liability Letter Copy of Title Deed or Sale Purchase Agreement Copy of MOU in case of property resale transaction Copy of POA (if any), dated not older than 2 years from date of application Note: Additional documentation may be requested for on a case to case basis
Off Plan Finance : -
Eligibility : UAE Residents: UAE nationals and all expatriate nationalities Non-residents : Residents of GCC countries, a wide range of G20 countries, Pakistan and Singapore. Salaried: Minimum Salary requirement of AED 10,000 per month, No salary transfer required For Self-employed: Average Credits of AED 50,000 per month Minimum Age for all primary applicants is 23 years UAE Nationals: Maximum Age at maturity for 70 years Expatriates: Maximum Age at maturity for Salaried is 65 years, and Self employed is 70 years
Processing Fee : -
Documents Required : All Identification documents Income documents: Salaried Customers Original Salary Certificate Original/Copy of Payslips (if required) Last 3-6 months Personal Bank Statements, depending on employer profile Self-Employed Customers Copy of Valid Trade Licensee Last 3 months Personal Bank Statements Last 6 months/ 12 months Company Bank Statements Copy of 2 years audited financials Documents Required for Final Approval Copy of Title Deed or Sale Purchase Agreement Copy of Down Payment Receipts Copy of MOU in case of property resale transaction Copy of POA (if any), dated not older than 2 years from date of application Note: Additional documentation may be requested by the Bank on a case to case basis
Off Plan Finance : -
Eligibility : UAE nationals and all expatriate nationalities Salaried - Minimum Salary requirement of AED 15,000 per month, no salary transfer required For Self-employed: Average Credits of AED 50,000 per month Minimum Age for all primary applicants is 23 years
Processing Fee : 1% of the approved loan amounts
Documents Required :
Identification Documents : Passport Labour Card (if applicable) Khulasat Qaid (if applicable) Financial Documents
Salaried customers : Current dated salary certificate addressed to RAKBANK (stating designation, length of employment, detailed breakdown of salary) Other income documents e.g. tenancy contracts and title documents for rental properties Salary bank account statements (reflecting last 6 salary credits in the account) Other income account statements (last 6 months)
Self-employed customers : Audited financial statements (last 2 years) Other income documents e.g. tenancy contracts and title documents for rental properties Personal bank account statements (last 6 months) Corporate bank account statements (last 6 months) If un-audited financial statements - 12 months bank statements for both company and Personal accounts
Legal Documents (Self-employed customers only) : Copy of Trade License (at least one year LOB) Copy of Chamber of Commerce Registration Copy of Memorandum and Articles of Association Copy of Certificate of Incorporation, Register of Shares and Power of Attorney (applicable for off-shore companies)
Property Documents : Copy of Sale/Purchase Agreement Receipts of customer contribution and bank account statements validating this payment
Other Documents : Cheque for loan processing fee/valuation fees
Off Plan Finance : yes
Eligibility : UAE Residents: UAE nationals and all expatriate nationalities Salaried: Minimum Salary requirement of AED 15,000 per month, No salary transfer required For Self-employed: Average Credits of AED 50,000 per month Minimum Age for all primary applicants is 23 years
Processing Fee : 0.25% for Salaried customers and 0.50% for Self Employed customers
Documents Required :
Identification Documents : Passport Labour Card (if applicable) Khulasat Qaid (if applicable)
Salaried customers : Current dated salary certificate addressed to RAKBANK (stating designation, length of employment, detailed breakdown of salary) Other income documents e.g. tenancy contracts and title documents for rental properties Salary bank account statements (reflecting last 6 salary credits in the account) Other income account statements (last 6 months)
Self-employed customers : Audited financial statements (last 2 years) Other income documents e.g. tenancy contracts and title documents for rental properties Personal bank account statements (last 6 months)Corporate bank account statements (last 6 months) If un-audited financial statements - 12 months bank statements for both company and Personal accounts
Legal Documents (Self-employed customers only) : Copy of Trade License (at least one year LOB) Copy of Chamber of Commerce Registration Copy of Memorandum and Articles of Association Copy of Certificate of Incorporation, Register of Shares and Power of Attorney (applicable for off-shore companies)
Property & other documents : Copy of Sale/Purchase Agreement Receipts of customer contribution and bank account statements validating this payment Cheque for loan processing fee/valuation fees
Off Plan Finance : yes
Eligibility : UAE National or Expatriate residing in UAE Age : 21 and above
Processing Fee :
Documents Required : Original passport & UAE National ID Valid UAE residence visa for expatriates Six months bank statement Salary Transfer Letter Valuation Certificate The property documents (Site Plan, Map & Title of Deed, etc...) Life & Permanent Disability Takaful Insurance Property Insurance Joint Deals Geographic Scope (Freehold – Leasehold) Original of (Trade License – Chamber of Commerce Certificate – Memorandum of Association)
Off Plan Finance :
Eligibility : Salaried individuals UAE Nationals or Resident Expatriates Age : 21 and above
Processing Fee : 1%
Documents Required : Passport & Visa copy
Emirates ID Card copy
Last 6 months personal bank statement
Employment letter
Last Salary slip / Employer Letter
Property ownership documents
Proof of Customer’s contribution towards payment of property/ Equity payment (where applicable)
Off Plan Finance : yes
Eligibility : Salaried individuals UAE Nationals or Resident Expatriates Age : 21 and above
Processing Fee : 1%
Documents Required : Passport & Visa copy
Emirates ID Card copy
Last 6 months personal bank statement
Employment letter
Last Salary slip / Employer Letter
Property ownership documents
Proof of Customer’s contribution towards payment of property/ Equity payment (where applicable)
Off Plan Finance : yes
Eligibility : A UAE National, resident expatriate, or non-residents Employed (earning at least AED 15,000 per month and at current employer for at least 6 months) or self-employed (earning at least AED 20,000 per month and able to show audited finances for the past 2 years) Between 25 and 65 years of age for salaried expats, or up to 70 years of age for all other applicants
Processing Fee :
Documents Required : Valid passport for UAE Nationals Valid passport and UAE residence Visa for Expatriates. Valid Emirates ID Income Documents Last three month’s bank statements Liability or clearance letter (when switching loan from another lender)
Off Plan Finance :
FABCashback Credit Card
Minimum Salary AED 5,000
FIXED RATE 3.50%
LOAN AMOUNT 3.50%
REDUCING RATE 3.50%
DOWN PAYMENT 3.50%
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