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.
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.
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.
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.
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.
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
Things to keep in mind when looking to buy a home
Buying a forever home is one of the biggest and most significant financial decisions, so it’s crucial you consider a few key factors before taking the step.
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 you monthly income and expenses for each category and the calculator will do the rest.