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Home Loans for non-UAE residents
Mortgages for non-UAE residents looking
for investment properties in the UAE
Warning
- If you do not keep up your repayments/payments, you may lose your property
- You may have to pay penalties if you pay off a loan/financing early
- Refinancing your loans/financing may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit
- If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future
Features
High loan amounts of up to AED 10 million with flexible payment terms
Competitive variable rates with an option to link to EIBOR or MBR
No approval in principle fees. Check your eligibility at no cost
Home Mortgage Calculator
Use FAB's Mortgage Calculator to determine your loan eligibility, monthly payments, and the effects of overpayments. Enter your income and expenses to calculate your EMI amount.
The property price is (AED)
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I will put down a payment of (AED)
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and would like a mortgage period (years) of
Annual interest rate
Mortgage amount
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0
Monthly repayment
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* Please note that this is just an estimate based on the given amounts and the downpayment is dependent on the transaction type along with the relevant conditions that apply
Representative example
Mortgage amount
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0
Monthly repayment
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0
* Please note that this is just an estimate based on the given amounts and the downpayment is dependent on the transaction type along with the relevant conditions that apply
Find a mortgage that's right for you
The Mortgage Application Process
Applying for a mortgage with FAB is easy. Start the journey to your new home with these simple steps:
1. 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
2. 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.
3. 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.
4. 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.
5. 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!
6. 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.
7. Completion
The property is yours. Please remember to commence your monthly commitment to the bank.
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Contact us anytime for further assistance or check out our FAQ page for more information.
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+971 2 681 1511 |