^{Protect your family financially} Own your dream home using efficient money management practices

Mortgage loan: A facility provided to customers enabling them to purchase, construct or renovate a property for which the bank defines a repayment schedule, basis customer eligibility and requirements.
Debt-Burden Ratio (DBR):
The ratio of your total monthly payments (including installments towards your loans and credit cards), to your total monthly income. This is used by banks to calculate your eligibility for loans and credit cards, as it shows your current liabilities and your ability to repay. As per the Central Bank of the UAE, only those with a DBR of less than 50% are eligible for any loan.
Net income:
The amount left after all deductions by your employer and your expenses including any credit card payments and loan installment payments.

Evaluate affordability: It is the most important factor.
Weigh the pros and cons: Choose a property and a Mortgage loan that best suits your needs.
Use SMART goals: Save for the down payment.
Be aware! Know the service charges and maintenance costs.
Be regular: Pay your installments timely.
Reduce avoidable expenses: Use the additional savings to reduce debt.

If you do not keep up your repayments, you may lose your property
You may have to pay penalties if you pay off a loan too early
If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future.

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Protect your family financially Own your dream home using efficient money management practices