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Home Loan for Residences and Investments in UAE
Unbox your dream house
Warning
- If you do not keep up your repayments/payments, you may lose your property
- You may have to pay penalties if you pay off a loan/financing early
- Refinancing your loans/financing may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit
- If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future
Own your own home with FAB’s range of mortgage options and rates starting from 3.94%.
Enjoy a range of great rates on a FAB Mortgage with fixed and variable rate options, low down payments, high mortgage amounts and low fees. Our mortgage advisers will be with you every step of the way to advise on the best mortgage for you, and you’ll get great benefits, including your choice of FAB credit card.
Enjoy our fixed rate mortgages of up to five years:
| Fixed rate period | With a salary transfer to a FAB account* | Without a salary transfer to a FAB account** |
|---|---|---|
| One year | 3.94% | 4.24% |
| Two years | 3.94% | 4.24% |
| Three years | 3.94% | 4.24% |
| Five years | 4.19% | 4.44% |
Other great benefits include:
- Get market-leading* rates when you transfer your salary to a FAB account. You’ll also get to choose a FAB credit card to complement your loan, if you do not already hold one
- Plus earn up to AED 12,500 cashback when you transfer your salary to a FAB account and open an iSave Account with our Multi Product Package offer**** Learn more
- 60-day grace period before your first instalment or 120-days for mortgage transfers
- Refund of early settlement and valuation fees for mortgage transfers
- Waivers of processing fees for mortgage transfers
- Up to 85% financing for first-time buyers
- No approval-in-principle fee
- Exclusive deals on processing fees and discounted valuation fees on properties with major developers
Own your dream home today with a FAB Home Loan.
*Market-leading designation is applicable solely to the one and two year fixed periods, as substantiated by recent market studies, however this designation may no longer reflect current market conditions.
**The subsequent mortgage rate you’ll move to when your current deal ends is equivalent to the Mortgage Base Rate (MBR) minus 5% or 3 months EIBOR + 1.5% for customers with a salary transfer to a FAB account, and it will not fall below a specified rate of 1.99% over an agreed period of time.
***The subsequent mortgage rate you’ll move to when your current deal ends is equivalent to the Mortgage Base Rate (MBR) minus 4.5% or 3 months EIBOR + 1.89% for non-salary transfer customers, and it will not fall below a specified rate of 1.99% over an agreed period of time.
****Offer is valid for new and selected existing customer only. Products need to be availed within 90 days.
Home Mortgage Calculator
Use FAB's Mortgage Calculator to determine your loan eligibility, monthly payments, and the effects of overpayments. Enter your income and expenses to calculate your EMI amount.
The property price is (AED)
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I will put down a payment of (AED)
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and would like a mortgage period (years) of
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Monthly repayment
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* Please note that this is just an estimate based on the given amounts and the downpayment is dependent on the transaction type along with the relevant conditions that apply
Representative example
Mortgage amount
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0
Monthly repayment
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* Please note that this is just an estimate based on the given amounts and the downpayment is dependent on the transaction type along with the relevant conditions that apply
The Mortgage Application Process
Applying for a mortgage with FAB is easy. Start the journey to your new home with these simple steps:
1. Submit your interest
Fill in a form online or contact one of our specialists directly to begin the process. You can use our mortgage calculator for an estimation of your monthly repayments. https://www.bankfab.com/en-ae/personal/mortgages/mortgage-calculator
2. Consultation
A member of our team will contact you to discuss your eligibility and product offerings. They will advise on the next steps and how to move forward. Once you have an idea of your budget, you can start to look for your home. In addition, you can apply for an approval in principle (AIP) through our specialist to get an estimate of how much you will be eligible to borrow.
3. Valuation of your home
Once you find your property, you need to sign a MOU (Memorandum of Understanding) with your agent and to arrange a valuation of your home with a FAB Home Representative.
4. Complete and submit required documentation
You will then fill in any required applications and provide the documentation needed for final approval, i.e., Mortgage Application Form Income Proof, Sale and Purchase Agreement and any other items that your mortgage specialist advises on. Once completed, the mortgage specialist will submit your application to the bank for the final decision.
5. Signing the home offer letter and mortgage approval
Your mortgage loan undergoes the process of application approval. The FAB Home Representative will confirm all your documentation. Once your loan application is approved by the bank, you will need to sign an acceptance of the offer letter, together with the Mortgage Terms and Conditions. Take note that you may be requested to pay related bank charges (i.e., documentation processing fee, valuation fee, property all risk insurance) as well as to furnish evidence of the loan difference between the loan amount and the property purchase amount. You're one step closer to your new home!
6. Registration and Disbursal
The final steps are completed, and your dedicated mortgage specialist will assist you with how to proceed. You will need to visit the Land Department and register your home as well as to mortgage your property to the bank. Subsequently, the loan will be disbursed and a Manager Cheque (MC) or account transfer will be done to the seller, developer or third party.
7. Completion
The property is yours. Please remember to commence your monthly commitment to the bank.
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| For customers within the UAE | For customers outside of the UAE | ||
|---|---|---|---|
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600 52 5500 | |
+971 2 681 1511 |