Who Can Apply for the Home Loan for Residents of MashreqBank?
The Home Loan for Residents of MashreqBank is available to UAE residents, as well as non-residents earning outside the UAE, for properties located in Dubai and Abu Dhabi. Whether for buying a new property or refinancing an existing one, the bank offers attractive conditions to meet diverse client needs.
Additionally, Mashreq evaluates your income, employment history and stability, your ability to handle current and new obligations, the property value and your assets for the down payment, helping you manage payments without overextending your budget.
You can borrow up to AED 15 million, with a repayment period of up to 25 years.
Requirements to Obtain the Home Loan for Residents of MashreqBank
✔ Salaried or self-employed
✔ Maximum age of 70 at the end of the loan
✔ For salaried applicants: application form, passport copy with valid visa, salary certificate addressed to Mashreqbank, last six months’ bank statements, liability letter from your bank, copy of the purchase contract and down payment receipts
✔ All co-owners of the property must be co-borrowers
A minimum monthly income starting from AED 15,000 is required, or average monthly balances starting from AED 25,000 for non-residents.
A Tip for You!
Before applying for the loan, carefully assess your financial capacity and ensure that the installments fit within your monthly budget. Also, consider additional costs associated with purchasing a property, such as registration fees, insurance, and maintenance expenses.
It’s important to compare the terms offered by different financial institutions to ensure you’re getting the best possible deal. Remember, a home loan is a long-term commitment, so choose an option that is sustainable over the years.
What Are the Rates for the Home Loan for Residents of MashreqBank?
MashreqBank’s interest rates vary according to the client’s profile and market conditions. You can simulate your instalments with Mashreq’s mortgage calculator before applying.
Life insurance and property insurance are mandatory before disbursal. Check other fees in Mashreq’s Schedule of Charges, and gather all necessary information to avoid surprises during the process.
How to Apply for the Home Loan for Residents of MashreqBank?
To apply for MashreqBank’s Home Loan, visit the bank’s official website and complete the online application form. A consultant will contact you to guide you through the next steps and assist in the approval process.
Click the button below to learn more and begin your journey toward owning your dream home.
