Mortgage Calculator

A mortgage is a type of loan specifically used to purchase real estate. In this arrangement, the property itself serves as collateral for the loan. Mortgages are typically paid back in monthly installments over a period of years, with payments covering both the principal amount borrowed and the interest on the loan.

The mortgage calculator helps you estimate your monthly mortgage payment based on several factors including the purchase price,your initial down payment amount, term of the loan and expected interest rate.

The minimum down payment required for a mortgage in Dubai depends on several factors, including whether you are a resident or non-resident, and whether you already have a mortgage in the UAE.

For residents without an existing mortgage, the minimum down payment is generally lower compared to non-residents and residents with an existing mortgage. Non-residents and individuals with an existing mortgage in the UAE typically face higher down payment requirements due to perceived higher risks by lenders.

To discuss your individual case and explore the most suitable options based on your circumstances, we invite you to contact us. One of our financing experts will get in touch with you to provide personalized advice and guidance tailored to your specific needs.

Yes, non-residents can indeed obtain a mortgage in Dubai. The process and requirements might differ slightly from those for residents, including potentially higher down payments and additional documentation. Given the unique aspects of each individual’s circumstances and the varying policies of banks, we highly recommend scheduling a personal consultation. This way, our experts can offer advice and solutions tailored to your specific situation, ensuring you get the most accurate and beneficial guidance for acquiring a mortgage in Dubai as a non-resident.

In the UAE, mortgage interest rates have experienced volatility over the past years, mirroring trends seen in many other countries. The rates you can expect will largely depend on your preference for a fixed or variable interest rate mortgage. Additionally, the length of time for which the interest rate is fixed can influence the rates available to you.

For those considering a fixed-rate mortgage, securing a rate for a longer term might provide stability but could come at a slightly higher rate compared to shorter-term fixed rates. Variable-rate mortgages, on the other hand, fluctuate with market conditions, which can lead to lower rates at times but also carry the risk of rates increasing.

For today bank rate and the most current and accurate rates, it’s advisable to refer to the Emirates Interbank Offered Rate (EIBOR), which is a standard reference rate for borrowing between banks within the UAE. This rate can give you a good indication of the current market conditions and what kind of rates you might expect for mortgages.

Given the complexities and changing nature of mortgage rates, we recommend consulting with our financial advisors. They can provide personalized advice based on the latest rates and help you understand the options to find the best mortgage solution for your needs.

Rising interest rates can significantly impact mortgage payments, particularly for those with variable-rate mortgages or those looking to refinance or take out a new mortgage.

Fixed-Rate Mortgages: If you currently have a fixed-rate mortgage, rising interest rates will not affect your existing monthly payments. However, if you’re looking to refinance or take out a new mortgage, you may face higher interest rates than before, leading to higher monthly payments for the same loan amount.

Variable-Rate Mortgages: When your variable interest rate is linked to the Emirates Interbank Offered Rate (EIBOR), plus a fixed margin, your Equated Monthly Installment (EMI) will change based on the actual EIBOR rate on the review date.This means you’ll pay more each month for your mortgage.

EIBOR, or the Emirates Interbank Offered Rate, is a benchmark interest rate, which is the average rate at which banks in the United Arab Emirates (UAE) offer to lend unsecured funds to other banks in the UAE interbank market. Essentially, it’s a reference rate for the cost of borrowing money within the banking sector in the UAE.

EIBOR is often used as a reference rate for setting the interest rates on various financial products, including mortgages, personal loans, and car loans in the UAE. The interest rate on these products is typically expressed as EIBOR plus a fixed margin, which remains constant.