Mortgage Loans for purchase or refinance of a completed residential building in the United Arab Emirates.
- Competitive interest rates
- Loan to Value of up to 65%
- Loan tenor of up to 15 years
- Loan amount of up to AED 20 Million
- Flexible repayment terms from rental income
- Standard processing fee of 1%
- Property management with the bank
- Standard documents include the Mortgage Application form, income documents and property documents as required by the bank.
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.