• Dubai, United Arab Emirates

Description

CBD Mortgage Loan rate for expats starts from 3.98%. The perfect combination of a great rate, easy buyouts, and flexibility to owning your dream home.

Major Advantage: Available for both salaried and self-employed, Low minimum salary requirement

Main Features / Benefits

Interest Rates & Charges:

  • Reducing Rate (as advertised): Starting from 3.98% p.a.
  • Flat Rate: 2.32% p.a. (calculated as per 25 years tenure)
  • Processing Fees: 0.25% of the loan amount (Minimum AED 3000+ Vat), Nil for buyout
  • Property valuation Fees: AED 3,150 (50% waiver on disbursement)
  • Early Settlement Fees: 1% of Outstanding Loan or AED10,000 (whichever is lower)
  • Partial Settlement Fees: Flexibility to repay up to 15% of your outstanding balance per annum without penalties

Finance Requirements:

  • Minimum Income Requirement:
    • For salaried AED 12,000
    • For self-employed AED 20,000
  • Minimum Length of Service Required: 6 months for salaried; 3 years for self-employed
  • Salary Transfer: Not compulsory, Better rates are possible with salary transfer
  • Minimum Down payment:
    • For first property (If property price < AED 5M): 20% for Expats
    • For first property (If property price > AED 5M): 35% for Expats
    • For second property: 40% for Expats

    Note: Fee Financing also possible

Key Details:

  • Maximum Finance Amount: AED 20,000,000
  • Islamic Finance: Yes Available
  • Maximum Term: 25 Years
  • Finance available for: All Ready Villas or apartments registerable with Lands department and for approved off-plan properties

Insurance (Compulsory):

  • Life Insurance: 0.01167% of the finance amount per month
  • Property Insurance: 0.04% per annum

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