What is a mortgage?

The term "mortgage" refers to a loan taken out to purchase or maintain a home, land, or other type of property.

Does Dubai have mortgages?

Mortgages in the UAE are available on a fixed-rate or variable-rate basis. Fixed terms are usually around five years, although they can be as short as one year.

According to Dubai mortgage law, expats can get a home loan of up to 80% of the property purchase value, which means expats have to manage an initial deposit of 20% to buy property worth less than AED 5M in Dubai. The loan cap for off plan property mortgage in Dubai is slightly different.

Why is a mortgage important?

A mortgage is a necessity if you can't pay the full cost of a home out of pocket. There are some cases where it makes sense to have a mortgage on your home even though you have the money to pay it off. For example, sometimes mortgage properties to free up funds for other investments.

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