Mortgage in Abu Dhabi

Home Loans in Abu Dhabi

One of the minimum basic needs in the life of all human beings is their need to live in a good environment. However, this can only get better when the place you call home is also your own. That is why we have home loans or mortgages designed by lenders to help people fulfill their dreams of living in their own home.

Understanding mortgage in Abu Dhabi

Mortgage is a loan that you get from a bank or any other financial institution to enable you to:

  • Purchase a new house
  • Construct a new house
  • Renovate your existing house or property

Before putting your hand on paper and pen to sign that mortgage in Abu Dhabi, you need some due diligence:

First you need to assess the kind of property you need to buy or renovate in terms of future economic viability after spending years repaying it. If the property in question does not meet the necessary criteria, you may as well consider selling it or taking a loan to invest in something else for better returns in the future
Compare the market rates in terms of interest, flexibility of repayment and other hidden costs of setting off the mortgage in Abu Dhabi
Since property ownership is something that is tied to strict statutory regulations, you may need to familiarize yourself with all those laws, whether you are a foreigner or native of the Emirates

All the above would need some or a whole lot of your time and effort to familiarize yourself with and then evaluating all the features to decide on the best mortgage in Abu Dhabi. MoneyGulf offers guidance and assistance to make an informed decision before you seek a home loan from the Abu Dhabi bank with the most advantageous offer.

Eligibility for a mortgage in Abu Dhabi

  • Legal age of 21 years
  • Maximum age to apply for a home loan is 58 years if you are salaried and 60 years if you are self-employed. However, this varies from one lender to another
  • You need to have a steady income that will enable you to repay the loan
  • A clean credit record

Required documents for a mortgage in Abu Dhabi

  • Proof of identity which is National ID in the case of UAE nationals and resident visa in the case of expatriates
  • Utility bill as proof of address
  • Age proof
  • Statement of account from your bank
  • Current salary slip

You will find that seeking a mortgage in Abu Dhabi is a simple procedure when you are assisted by MoneyGulf right from the beginning of the process till you get your home loan sanctioned. Get in touch with MoneyGulf today and take the first step towards realizing your dream of having your own home.