Purchasing an own home is always one of the largest financial transactions many salaried individuals do in their life.
Buying a home is not easy, One needs to Set a budget upfront, Even long before they start looking at properties, Our Mortgage Calculator can help you avoid falling in love with a home you can’t afford.
Our mortgage calculater can help set a budget so you can adjust your loan and down payment amounts, interest rate and loan term to see how much your payments might change. It’s important to know what your specific interest rate will depend on your overall credit profile and debt service ratio,
DSR ratio is the sum of all of your existing loans and cards + new mortgage payment / by your gross monthly income. As per UAE Banks, Your DSR ratio has to remain under 50% at all times.
Last Modified on 2021-11-24
Mortgage Loan / Financial Product Name
|Starting Interest Rate *|
|RAKBANK||RAKBANK Home In One||1.83%|
|RAKBANK||RAKBANK Mortgage Home Loan/ Islamic Finance||2.04%|
|CBD||CBD Mortgage Loan||2.49%|
|CBD||CBD Mortgage Loan for Self-Employed||3.54%|
|ADIB||ADIB Home Finance for UAE Nationals||2.06%|
|ADIB||ADIB Home Financ for Expats||2.06%|
LTV is the relationship between the value of the property and the borrowed amount.
For example: If your property value is AED 1,000,000, and you have a mortgage for AED 700,000, your loan to value ratio is 70% — because the loan makes up 70% of the total price.
the key consideration when looking at a mortgage is whether you can afford the repayments.
There are some basic rules that you need to consider when using our mortgage calculator in this regard.
Mortgage Rates in UAE are Based on EIBOR Rates provided by Central bank of UAE,
So Majority banks offer a Low Initial Starting rate to customers but in long term after fixed period expiry Interest rates can increase or decrease based on the EIBOR