Mortgage in Sharjah
Home Loans in Sharjah
One of the principal aspirations of all human beings is to own a home. Who would not want to own a home and make their kith and kin happy during their lifetime? It is presumed that having your own residential property is not feasible in every human being’s case.
But this has become a reality now thanks to mortgage offered by banks all over the world. Mortgage in Sharjah is no exception. Buying a property or constructing your own house has become as simple as ABC. That is why we have mortgage in Sharjah designed by banks to finance this basic human need.
Understanding mortgage in Sharjah
Mortgage is a loan that one gets from a bank or any other lending institution to enable them to buy a new house, to build a new house on a piece of land already owned by them or to refurbish their home.
But before going in for a mortgage loan in Sharjah you need to consider the following:
- Assess the kind of property you need to buy or renovate in terms of future economic value. In case the house does not meet this criteria you may as well consider disposing of it or taking a loan to invest in something else for better future returns
- Compare the current market rates from various banks in terms of interest rates, flexibility of repayment and the costs of setting up the mortgage
- As property acquisition is a transaction that is subject to state regulations, you have to consult your attorney concerning these regulations, whether you are a foreigner or a local resident
You should be wondering how you will do all of the above without the assistance of someone who is knowledgeable regarding home loans, the advantages of availing mortgage loan from one bank over another and the extensive procedure that you need to go through to apply for one.
MoneyGulf, no doubt, is the ideal company that helps you in all of the above by providing you with all the information you need to decide on the best Sharjah mortgage. You will be able to save a lot of time and effort as you will have all the possible choices placed before you and only need to take the final decision.
Eligibility for mortgage in Sharjah
- Must be 21 years and above
- Maximum age to get a home loan is 58 years if you are employed and 60 years if you are self-employed. But this will vary from one bank to another
- You require a steady income to repay mortgage
- Must have a clean credit history
Documents required for mortgage in Sharjah
- Proof of identity-national ID card for locals and resident visa for expatriates
- Utility bill as proof of residence
- Valid proof of age
- Latest bank statements
- Latest salary slip
Get in touch with MoneyGulf today to be able to avail the best mortgage in Sharjah and realize your dream of living in your own home sweet home, a privilege that is enjoyed by most people today, thanks to the home loans offered by banks.