In this article is all about home loan options which are highly beneficial for individuals and most importantly for the families with a tag of expatriates in UAE. If you are on a journey of a couple of children to raise, we suggest you plan a home loan so that to get your own home after a few years. Where one should go for such services? For sure banks in Dubai provide different types of packages regarding home loan options including:
- Home loans for residents
- Home loan for non-residents
Is there any difference between these two packages? Yes banks in UAE provide and facilitate both types of customers under different terms and conditions. This is pretty similar to the status of a client. The non-resident home loans would be difficult but not impossible, that’s’ why we are here to discuss a few important things.
For the last two or three years, such kinds of services get immense popularity among people in Dubai due to the increasing number of expatriates. To attract the attention of such potential account holders, banks are busy in the marketing of attractive offers and policies. In the race to introduce such packages, banks, as well as private corporate groups, are also involved at the private level.
If you are an expat in Dubai, it is a must thing that one should do consider on an urgent basis. Such options are rare and come after a long time, so to getting your own residence plan a home loan or a mortgage loan without wasting time. This is the most vital activity from your side generally in your troublesome and intense time but it will give you relief in your future days. Keep one thing in your mind that best plans do not rely upon the time and circumstances because you can’t get anything big through a comfort zone. There are always a few hurdles and logical decisions behind a successful plan like an investment plan, business plan or a home loan plan.
How we can get a home loan?
There are two major sources to get a home loan in UAE is:
- Private or Public sector banks
- Private lending firms
For a home loan, we would suggest you approach a bank in UAE because this is a reliable source and even secured one. You first need to understand the home loan eligibility UAE to design some time-bound activities and never get late for such planning. Let me explain the criteria.
- One must have a good credit history. It means proper working with banks in the past such as your previous pending’s should be cleared.
- You need to have a salary slip.
- You need to provide a passport as your proof of nationality.
The next point is the selection of a lender and as we have discussed above UAE banks are best and reliable for such kinds of services. You can choose a private bank with an excellent loan history. Kindly read all terms and conditions from a specific lender so that to manage your repayments.
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