Factors To Consider When Taking Out Mortgage in Dubai, UAE

Mortgage in Dubai, UAE

Factors To Consider When Taking Out Mortgage in Dubai, UAE

Factors To Consider When Taking Out Mortgage in Dubai, UAE

Have you ever thought of getting yourself a house in Dubai but you don’t know where to begin?  You need not worry as we have the perfect guide for you.

One of the most important purchases we make in our lives is purchases on homes. We all need a place we can call home; shelter is a basic need for everyone.  To many, buying a home is not a one-day event, it is a process that involves a number of steps before realizing the dream of owning a home. In most cases, it s a high capital investment depending on homeowner preferences and their financial capabilities. Some may have all the funds needed while others lack and end up settling for a Property mortgage in Dubai. The property market in Dubai has got something for every anticipating home buyer. There are more than forty mortgage lenders in Dubai offering a wide range of mortgage product. It is, therefore, necessary for mortgage lenders to research on vendors offering best mortgages in Dubai and settle an agreement with vendors get a mortgage plan.


Buying a house is an investment that needs a lot of capital depending on the kind of home and the features and specifications you need for your dream home. You can either buy your home on a cash basis or settle on getting a mortgage to purchase your home. You need to develop a comprehensive plan on how to go about with the whole process. Several factors need to be put in consideration before making a decision on getting a Property mortgage in  Dubai for your dream home. You can seek expert advisory services offered by Mortgage hub.

Advisory services offered at Mortgage Hub Dubai.

Some of the major decisions we make in our lives are on where to buy a home and how to do it. It is, therefore, necessary to take and consult on the best options and on the way to go about it. As an anticipated homeowner it is necessary that you seek professional advice on the best mortgage products available in the market. At Mortgage hub Dubai, you find a team of experts who are readily available to guide their clients on the steps undertaken in buying a house through a mortgage. Mortgage hub Dubai reaches out to clients in need of purchasing their home for the first time, those willing to remortgage their home and even those willing to purchase a property for the purpose of renting.  This institution has great experience of the Dubai property market and therefore has a great understanding of the procedures and processes of mortgaging homes in Dubai understands


After reaching a decision to get a mortgage for your house, it is important to scrutinize the factors that may lead to approval or disapproval of your mortgage. Getting a mortgage from your bank may be easy at the same time it may be a difficult task. Before applying for your mortgage it is important to consider the following critical factors:


Many mortgage in Dubai, UAE vendors qualify applicants with high credit scores for their products. Customers with high credit ratings are assumed to have the ability to manage the mortgage without missing payments or even having delays. It is, therefore, necessary that you keep a keen eye on your credit score as it affects your creditworthiness.

The amount of down payment; before you can think of plying for a mortgage, it is necessary to evaluate your financial status to assess whether you have the funds needed for down payment. The ability to make a huge down payment increases your chances in qualifying for a mortgage.


The best mortgage in Dubai, UAE vendors scrutinize your Debt to income ratio to determine whether you qualify for a mortgage. Having a credit with your mortgage provider does not necessarily mean you can’t get a mortgage. All you need to do is maintain debt-income ratio of less than 50%.


To qualify for a property mortgage in Dubai, you need to have a steady source of income. Most mortgage providers Dubai lend to individuals who have been in employment for some time as this somehow guarantees they can make payments promptly. The minimum length of service and minimum salary requirements are some of the factors put into consideration under personal income to determine your eligibility for a house mortgage in Dubai, UAE.


A mortgage lender should be able to pay for miscellaneous costs incurred in the course of the transaction. This is another important factor to put into consideration before applying for a mortgage in Dubai, UAE.


After meeting all the above-stated conditions, to do a market search to find the best mortgage in Dubai, UAE, providers. Provided below is a list of banks providing mortgages Dubai:

Abu Dhabi Commercial Bank

Dubai Islamic Bank



Emirates Islamic Bank

Emirates NBD

Noor Islamic Bank


RAK Bank

It takes approximately a month before your mortgage request application is approved. Most financial institutions in Dubai finance up to  70 % and sometimes up to 80% of the finance requirement.

Qualifying for a mortgage in Dubai, UAE when your credit history is questionable may be quite challenging but that does not rule out impossibility.  A poor credit history only limits the amount that can be borrowed and interest rates. The mortgage hub Dubai offers exceptional services of assisting mortgage lenders with poor credit history get best mortgage in Dubai, UAE to meet their home needs. The mortgage hub has been of great help to lenders buying their homes for the first time as well as those intending to remortgage their houses in order to meet their expanding family home needs. They also work closely with mortgage lenders willing to buy a house for the purpose of renting out.

When acquiring a Property mortgage in Dubai to purchase a new home or buy-to-let property, it’s important to protect not only yourself but your investment by getting an appropriate insurance plan.


Read Related Articles:

Reconciling The Finance Of Islamic Mortgage Dubai And Its Real Estate
Villas for Sale on the Palm Jumeirah – Three Important Questions to Ask
Can I Buy a House in Dubai in 2020? – Answered!

× How can I help you?