Here are 4 reasons to own your dream home with us.
Unlock your home purchasing potential.
Mortgage pre-approval is a process where a lender evaluates your financial situation and determines how much you can borrow for a home loan. It gives you a clear idea of your budget and shows sellers you’re a serious buyer.
UAE nationals, expatriates living in the UAE, and non-residents can all purchase property.
Process: Pre-approval, property identification,
valuation, final approval and disbursal.
Documents: Requirements vary depending on your
profile.
Timeline: Typically 7 to 45 business days (end-to-end).
In addition to the EMI and down payment, there are pre-approval fees, property valuation charges, mortgage registration fees, and DLD (Dubai Land Department) transfer fees. These associated costs can often be financed by the lender, depending on the loan-to-value (LTV) ratio of your mortgage.
No, while a higher credit score improves your chances of approval, there are still loan options available for those with less-than-perfect credit. Lenders also consider other factors, such as income and debt-to-income ratio.
An Islamic mortgage complies with Shariah law, which prohibits charging interest on loans. Instead, the bank purchases the property on your behalf and then leases or rents it to you.
Having a pre-approval gives you a clear budget, helping you focus on homes within your price range. It also makes you a more attractive buyer to sellers, as it shows you have the financial backing to complete the purchase.
