Home Loan
A home loan is a type of loan given by a financial institution, a mortgage company, or a bank for buying a house. It is given at a fixed or floating interest rate. Under a home loan agreement, the ownership of the residential property is initially held with the lender. Once the borrower makes the full payment, the borrower will be the owner of the house.
Documents Required
- Salary certificate addressed to the bank
- Information regarding all liabilities
- Copy of passport and stamped visa card
- Copy of Emirate ID
- Bank statements for latest 6 months for your personal account
- Latest Payslips
- Acopy of title deeds with floor plan
- Copu of latest tax returns
- Copy of Labour Card or Work Permit or Employment Identity Card
- Undated monthly security cheques
Key Features
- Competitive Interest Rates
- Flexible Loan Terms
- Variety of Loan Types
- Transparent Fees
Types Of Home Loans
1. First-Time Home buyer Loans:
- Tailored for individuals looking to buy their first home.
- Low down payment options available.
- Competitive interest rates.
2. Investment Property Loans:
- Designed for those interested in real estate investment.
- Options for multiple property financing.
- Customized loan terms for investors.
3. Mortgage Refinancing:
- Lower your monthly payments by refinancing your existing mortgage.
- Take advantage of lower interest rates.
- Consolidate debt through home equity.
4. Fixed-Rate and Adjustable-Rate Mortgages:
- Choose between fixed-rate mortgages for predictable payments or adjustable-rate mortgages with initial lower rates.