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Mortgage Brokers in Dubai – MCS Real Estate LLC
Frequently Asked Questions
How much is my borrowing limit?
The maximum mortgage amount you can borrow is up to 85% of the property price if you are a native. For non-natives, the maximum mortgage is 80%.
What are the rates I should expect in the UAE?
The rates for both fixed mortgages and variable mortgages vary. The average rate that you can expect is 5.2%.
Can non-residents avail financing in the UAE?
Yes, non-residents can avail financing in the UAE just like the residents. However, the LTV ratios for non-residents will differ from natives.
What is the minimum deposit?
With MCS Real Estate Brokers, the Minimum Deposit you need is 5-20% of the property’s purchase price.
What kind of documentation is required?
The documents required for a Mortgage are a valid passport, visa, Emirates ID, personal bank statement, salary certificate, and property ownership documents.
How long will it take to get a pre-approval?
It takes 3-5 working days to get a mortgage pre-approval letter. It may take some more business days to get it approved.
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