Mortgage Dubai
Elan Real Estate provides an easy snip method to finance your dream property. The team of experts at our agency delivers customized solutions which allows you to access superior terms and professional guidance while seeking mortgage Dubai services.
Residential and Commercial Solutions
Nothing is outside our scope of mortgage support for different property investment needs.
Secure the best mortgage Dubai options for your dream home through our network of leading financial institutions. Our team provides specific solutions for investors who want to secure mortgage for commercial real estate along with programs that optimize your investment potentials through smooth financing methods.
Elan Real Estate Mortgage Services serves as the optimal choice for these reasons.
Our team keeps itself updated with market trends which enables them to deliver top-notch recommendations to customers.
The mortgage application process at our company remains transparent by minimizing paperwork combined with simplified procedures.
The company creates competitive conditions by building bank partnerships to obtain ideal interest rates combined with adaptable payment plans.
Elan Real Estate is your reliable source to acquire funding solutions. The combination of residential and commercial mortgage services at our company guarantees expert guidance for every stage of your financing process.
Your Dedicated Mortgage Consultant Dubai
Elan real estate, a mortgage consultant Dubai with proven experience, collaborates directly with you to grasp your financial status while recognizing your property objectives. Our firm guides customers throughout every step of property purchase from our first meetings to disbursement completion for residential and commercial transactions.
Our Mortgage Process
- A complimentary meeting to evaluate your objectives along with analyzing your current financial state.
- Our customized funding solutions for residential and commercial property requirements.
- All aspects of mortgage applications fall under our support range, from form completion to bank interaction.
- After mortgage approval we aim to expedite funds distribution which ensures you obtain property ownership quickly.
- Our continuous support to customers through various financial choices and property requirements following the mortgage process.
Frequently Asked Questions (FAQs)
The borrowing limit is commonly considered to be seven times the applicant’s annual salary. However, that specific amount may differ depending on the bank’s policies. Keep in mind that previous loans, credit cards, and other liabilities might all affect your maximum borrowing capability.
Interest rates vary considerably among banks and are determined by specific customer characteristics, including whether they are salaried or self-employed.
Yes, non-residents can access financing in the UAE, but eligibility is subject to individual client profiling. The maximum loan-to-value for non-residents is typically 50%, with interest rates for this category starting at 4.99% + Eibor for a 3-year fixed rate*. (Depending on bank policies)
- Expat residents typically require a minimum share of 20% of a loan amount.
- UAE nationals generally need a minimum share of 15%.
- For expat residents going for the second time, a deposit of around 40% is typical.
- UAE nationals making their second property mortgage typically require a deposit of approximately 35%. However, it’s important to note that some banks offer exceptions to these rules. For first-time home buyers, second-time buyers, both expats and locals, may be eligible for lower deposits of 20% and 15%, respectively, if their existing mortgage is under 60% loan-to-value (LTV).
For Salaried Applicants:
- Identification documents
- Salary certificate
- 6 months’ pay slips
- 6 to 12 months bank statements
- Details of existing liabilities
For Self-Employed Applicants:
- Identification documents
- Company documents (trade license, incorporation documents, memorandum of association, shareholder’s certificate, company profile, etc.)
- Audited accounts
- 12 months of business bank statements
- Six months of personal bank statements
- Details of existing liabilities* (AECB Report)
The process of getting a pre-approval fluctuates by the bank, however, most banks provide early feedback and requests within two business days. The average turnaround time for receiving a pre-approval is 5-7 working days after providing additional documentation or responding to any additional inquiries.