Mortgage in Doha
Home Loans in Doha
Decent habitation is a universal human need and right. That is the reason we have mortgage in Doha tailored by banks in order to finance and advance this fundamental right.
Understanding mortgage in Doha
By simple definition, Mortgage is a loan tool designed by banks to enable borrowers to:
Purchase new homes;
Put up new homes; or
Upgrade their existing homes.
However, before signing up for a mortgage in Doha, first consider the following factors:
Critically evaluate the house you want to buy or renovate and find out if it has any future economic premium. Should it turn out that the house fails this test then you can consider selling it or channel your finances into another different asset or venture that will yield financial dividends tomorrow;
Carry out a critical comparison of the current mortgage offers floated by various banks to find out what their interest rates are, their flexibility of repayment and the entire costs of setting up the mortgage in Doha ; and
Because property acquisition is a transaction that is subject to state regulations, there is need to confer with your attorney in regard to such legal issues, irrespective of whether you are alien or a citizen.
Eligibility for mortgage in Doha
All borrowers need to be 21 years and older ;
Maximum age for mortgage in Doha is 58 years for employees and 60 years for the unemployed applicants;
An income sustainable enough to repay the mortgage; and
A good credit record.
Required documents for mortgage in Doha
A valid proof of applicant identity: national ID cards for citizens and valid resident visas for foreign nationals;
Proof of applicant residence;
Proof of applicant age;
Applicant’s most recent bank statements; and
Applicant’s most recent salary slips.