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Mortgages for First Time Homeowner

Are you a first-time homeowner?

The excitement of buying your first home is a feeling you will remember for the rest of your life. We want that experience to be joyful and seamless from the get-go. This is why we have carefully curated a selection of financing options to set you on the right path, and we will guide you through your journey every step of the way.

What are you looking for?

We are here to help you navigate this financial journey with ease by offering you all the information, tools and insightful tips to make an informed decision.

View all frequently asked questions
View all frequently asked questions
View all frequently asked questions
View all frequently asked questions
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What is a Mortgage or Home Loan?

It’s a loan that is used to buy a property such as a house, villa, apartment, townhouse, or small building as an investment. The property will be held by the Bank as security until you pay off the loan.

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What is a Down Payment?

Down Payment is the initial amount you need to contribute to availing of a home loan from a financial institution. It’s the amount of savings you use in buying a home.

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How do we value the property?

Should you wish to get a mortgage from FAB, the property valuation, also called a site visit, will be conducted by one of the evaluators on our approved panel. Evaluators will visit the property to estimate its value. If you have already selected the property, and wish to estimate its worth, all you need to ensure is to specify the contact person (if other than you) who could be contacted for property valuation. To request a property valuation, you may call our Contact Centre on 600525500.

If you need the property valuation to be conducted without a loan from FAB, then you will have to contact a property valuator.

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Do I need an insurance cover for the mortgage?

Yes. You would need both Life Insurance and Property Insurance cover for your mortgage. FAB has a group insurance cover available through our partners for both and can be easily availed. You will not be required to do any medical test for loan amount up to AED 6 million.

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What is EIBOR, its trend and max high/low?

EIBOR (Emirates InterBank Offered Rate) is a benchmark interest rate published daily by UAE Central Bank. It reflects the average rate offered by major banks in UAE for short-term loan funding between banks. Daily and historical data for EIBOR is available at UAE Central Bank’s website EIBOR Rates | CB UAE (centralbank.ae).

Insightful Tips and Resources

Mortgage Calculator

Use our Mortgage Calculator to find out how much you are eligible to borrow and the breakdown of your monthly payments. This tool will help you understand the difference an overpayment on your mortgage could make or how much more you could borrow on your current mortgage.

Just enter your monthly income and expenses for each category and the calculator will do the rest.

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and would like a mortgage period (years) of
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Monthly repayment
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* Please note that this is just an estimate calculator based on given amounts

Representative example
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* Please note that this is just an estimate calculator based on given amounts

Types of Mortgages

FAB Green Mortgage

Switch to sustainable with our green mortgage.

  • Enjoy a discount on variable rates based on EIBOR
  • Save 50% on your processing fee

Home Loans for non-UAE residents

Buying an investment property in the UAE as a non-resident is easy with FAB.

  • High loan amounts of up to AED 10 million
  • Borrow up to 50% of the property’s value
  • Competitive variable rates with an option to link to EIBOR or MBR

Home Loan for Residences and Investments in UAE

Own your dream home with a FAB Home Loan with an attractive fixed rate for up to five years.

  • Attractive fixed rate of 4.59% with flexibility across one, three and five-year options
  • Variable interest rates starting from 0.55% + 3 months EIBOR in the first year

Loans for Small Buildings

Get finance for completed residential buildings.

  • Loan amount of up to AED 100m
  • Loan duration of up to 20 years
  • Competitive rates

National Housing Loan

Helping UAE nationals to buy their dream homes.

  • Loans up to AED 2 Million
  • Loan duration of up to 25 years
  • No interest

FAB Current Variable Rates

Get in touch

Need more help?

Contact us anytime for further assistance or check out our FAQ page for more information.

For customers within the UAE For customers outside of the UAE
600 52 5500 +971 2 681 1511