UAE 
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.
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First Abu Dhabi Bank
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Back to Mortgages
Mortgages for 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?
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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.
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.
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Property investment podcast to listen to
Check out the podcast Makram Hani – Making the difference through real estate investment and coaching.
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Some of the best residential neighbourhoods in UAE
The UAE is one of the most dynamic and safe places to live in the world, offering residents a high quality of life.
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Best schools in the UAE
If you have a family with young children, looking for the best schools in the city is most likely the top of your list.
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Recommended movers
Moving into an apartment, townhouse or villa can be overwhelming. This is why we have listed access to some of the best packers and movers in the UAE to make your move seamless and hassle-free.
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Top 3 real estate websites in the UAE
The research for your forever home is key and these real estate websites make it a lot quicker and easier to find what you are looking for.
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Recommended pest control services
One of the first few things you should check off your list once you decide on a home is to get a pest control service to fumigate your home.
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Recommended cleaning services
There’s nothing more satisfying than moving into a home that has been deep cleaned.
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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.
The Mortgage Application Process
Applying for a mortgage with FAB is easy. Start the journey to your new home with these simple steps:
Submit your interest
Fill in a form online or contact one of our specialists directly to begin the process. You can use our mortgage calculator for an estimation of your monthly repayments. https://www.bankfab.com/en-ae/personal/mortgages/mortgage-calculator
Consultation
A member of our team will contact you to discuss your eligibility and product offerings. They will advise on the next steps and how to move forward. Once you have an idea of your budget, you can start to look for your home. In addition, you can apply for an approval in principle (AIP) through our specialist to get an estimate of how much you will be eligible to borrow.
Valuation of your home
Once you find your property, you need to sign a MOU (Memorandum of Understanding) with your agent and to arrange a valuation of your home with a FAB Home Representative.
Complete and submit required documentation
You will then fill in any required applications and provide the documentation needed for final approval, i.e., Mortgage Application Form Income Proof, Sale and Purchase Agreement and any other items that your mortgage specialist advises on. Once completed, the mortgage specialist will submit your application to the bank for the final decision.
Signing the home offer letter and mortgage approval
Your mortgage loan undergoes the process of application approval. The FAB Home Representative will confirm all your documentation. Once your loan application is approved by the bank, you will need to sign an acceptance of the offer letter, together with the Mortgage Terms and Conditions. Take note that you may be requested to pay related bank charges (i.e., documentation processing fee, valuation fee, property all risk insurance) as well as to furnish evidence of the loan difference between the loan amount and the property purchase amount. You're one step closer to your new home!
Registration and Disbursal
The final steps are completed, and your dedicated mortgage specialist will assist you with how to proceed. You will need to visit the Land Department and register your home as well as to mortgage your property to the bank. Subsequently, the loan will be disbursed and a Manager Cheque (MC) or account transfer will be done to the seller, developer or third party.
Completion
The property is yours. Please remember to commence your monthly commitment to the bank.
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 in the UAE with a range of mortgage options including low fixed and variable rates.
- One-year fixed rate from 3.99%
- Three-year fixed rate from 4.24%
- Five-year fixed rate for 4.49%
- One-year variable rate from 0.55% + 3 months EIBOR
- Low down payments, high loan amounts, flexible rate options and helpful mortgage advisers
- Exclusive deals on properties with major developers
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
*This is a variable rate offer based on a three month EIBOR in addition to a margin of 1.49% (with a minimum rate of 1.99%).
Need Support?
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