FAB Home Loan for Residences and Investments in the UAE
First Abu Dhabi Bank (FAB)
MINIMUM SALARY
AED 15,000
FIXED RATE
3.94%
LOAN AMOUNT
AED 20,000,000
REDUCING RATE
0.55% + 3 months EIBOR in first year
DOWN PAYMENT
Upto 15%
Minimum Salary Required
AED 15,000
Max Loan Amount
AED 20,000,000
Fixed Rate
3.94%
Reducing Rate
0.55% + 3 months EIBOR in first year
Down Payment
Joining Offers
Enjoy our fixed rate mortgages of up to five years :
FAB Rewards equivalent of up to AED 10,000 for customers who transfer their salaries to a FAB account, take Mortgage, Credit cards and open Isave account
Key Features
Enjoy FAB's fixed rate mortgages of up to five years :
Other great benefits include :
Conditions apply :
Islamic Home Finance For UAE Residents
First Abu Dhabi Bank (FAB)
MINIMUM SALARY
AED 15000
FIXED RATE
3.94%
LOAN AMOUNT
AED 20000000
REDUCING RATE
3.94%
DOWN PAYMENT
15%
Minimum Salary Required
AED 15000
Max Loan Amount
AED 20000000
Fixed Rate
3.94%
Reducing Rate
3.94%
Down Payment
Joining Offers
Enjoy fixed profit rates for up to five years if you have an existing FAB/FAB Islamic credit card or if you apply for an Islamic Credit card
Key Features
Enjoy fixed profit rates for up to five years if you have an existing FAB/FAB Islamic credit card or if you apply for an Islamic Credit card
With a salary transfer to a FAB Islamic savings account and a credit card
Without a salary transfer to a FAB Islamic savings account
Other great benefits include:
Terms and conditions apply.
First Abu Dhabi Bank (FAB) provides a range of mortgage and home financing options for UAE residents, non-residents, and investors looking to make the most of the property market. From conventional to Islamic financing options, FAB offers competitive interest rates, flexible terms, and support throughout the home-buying process. Here’s a comprehensive overview of FAB’s mortgage loan options, including key features, benefits, eligibility, and tools like the FAB Islamic Home Finance Calculator to aid in decision-making.
FAB’s conventional mortgage loan products are designed to suit a variety of home-buying needs, with packages for :
Residential Properties : Buyers can finance their first homes or investment properties in the UAE with high loan-to-value ratios and flexible rates.
Non-Resident Loans : Non-residents can also apply for financing with FAB, enabling international investors to purchase UAE properties.
Small Building Loans : Investors can finance smaller residential properties or buildings, expanding their real estate portfolio in the UAE market.
FAB mortgage loans are known for offering market-competitive rates, including fixed and variable options. Additionally, FAB’s financing comes with added benefits such as cashback offers, waived processing fees, and discounts on valuation fees for specific developer properties.
FAB Islamic Home Finance provides Sharia-compliant solutions under the principles of Ijara (leasing). This method involves FAB purchasing the property on behalf of the customer and leasing it to them, ensuring compliance with Islamic finance principles. Customers then make monthly payments that include both principal and a profit rate.
The key advantages of FAB Islamic Home Finance include :
Flexible Tenure Options : Customers can choose financing terms of up to 25 years, making it easier to manage monthly payments.
High Loan-to-Value (LTV) Ratios : UAE Nationals may qualify for up to 85% LTV, while expatriates can secure up to 80% LTV on their chosen property.
Competitive Profit Rates : FAB Islamic Home Finance offers competitive profit rates, which are calculated in alignment with EIBOR-linked benchmarks, ensuring affordability and transparency for the borrower.
One of the most appealing aspects of FAB’s mortgage products is the bank’s competitive interest and profit rates. Customers can choose from :
Fixed Rates : Fixed for up to five years, allowing homeowners to lock in a rate and budget with stability.
Variable Rates : Linked to the EIBOR rate, this option adjusts based on market conditions, which may result in lower monthly payments initially.
For Islamic financing, the profit rate structure is Sharia-compliant and tied to EIBOR as well, ensuring that customers have access to fair and competitive rates.
FAB offers a mortgage calculator and an Islamic home finance calculator to help potential buyers and investors plan their finances accurately :
Monthly Repayment Estimation : By entering key details, such as loan amount, tenure, and rate, customers can view an estimated monthly repayment amount.
Loan Eligibility Check : These calculators allow users to gauge how much financing they may be eligible for, based on income and property value.
Budgeting for Future Payments : By estimating future monthly costs, users can assess whether a specific loan or financing option fits within their budget.
These tools are accessible through FAB’s website, helping customers make well-informed decisions before applying for a mortgage.
FAB provides several specialized mortgage options to meet diverse customer needs, including :
First-Time Homeowner Loans : Designed to assist new buyers with competitive rates and tailored terms.
Mortgage Loans for Non-UAE Residents : This program enables non-residents to finance UAE properties, an attractive option for international buyers interested in the UAE property market.
Small Building Loans : Investors can finance small residential buildings, which is ideal for those looking to expand their real estate investments.
Green Mortgage : FAB also offers a green mortgage program for properties certified as environmentally sustainable, providing lower rates and additional benefits.
Eligibility criteria for FAB mortgages may vary depending on the loan type but generally include :
Minimum Income Requirements : Applicants need to demonstrate a stable income, with a minimum salary requirement based on loan size and type.
Age Requirements : Applicants must be at least 21 years old and under 65 (for some loans, 70 for UAE Nationals) at the end of the loan term.
Property Eligibility : The property should be on FAB’s list of approved developments, especially for off-plan financing.
Residency Status : UAE residents, expatriates, and non-residents are eligible, with differing terms based on residency.
The mortgage application process with FAB involves a few key steps :
1. Pre-Qualification Using FAB Mortgage Calculator : Begin by using the FAB mortgage calculator or Islamic home finance calculator to estimate potential loan amounts and monthly payments.
2. Submission of Documentation : Required documents include proof of income, bank statements, and property details. The list may vary for self-employed or non-resident applicants.
3. Property Valuation : FAB conducts a valuation of the property to assess its current market value.
4. Final Approval and Agreement : Once approved, FAB will outline the terms, and the contract will specify the monthly payment structure, interest or profit rates, and tenure.
5. Fund Disbursement : Upon contract finalization, FAB will disburse the funds for property purchase, enabling buyers to move forward with their investment.
FAB’s home finance options come with several perks, making it a preferred choice among UAE buyers :
Market-Leading Rates : FAB offers highly competitive mortgage rates, both fixed and variable, catering to different risk preferences and financial goals.
Cashback Offers and Fee Waivers : Eligible customers may benefit from cashback rewards, processing fee waivers, and discounted valuation fees when purchasing properties from partnered developers.
Green Mortgage Benefits : For environmentally conscious buyers, the green mortgage provides rate reductions and additional financing support for certified green properties.
Grace Periods and Payment Flexibility : FAB offers grace periods before the first installment, particularly for mortgage transfers, giving buyers flexibility in managing their cash flow.
FAB mortgage loans and Islamic home finance offer a comprehensive solution for UAE property buyers and investors, combining competitive rates with flexibility and tailored options for different financing needs. Whether you’re a first-time buyer, an investor, or looking to transfer an existing mortgage, FAB provides the tools, calculators, and expert guidance to help you make the most of your investment in the UAE real estate market. With both conventional and Sharia-compliant options, FAB ensures all customers can find the right financing solution for their property goals.
FAB finances a variety of properties, including apartments, villas, and small buildings, depending on the loan type.
Yes, FAB offers a mortgage buyout option, allowing customers to transfer existing loans with potential rate reductions and improved terms.
Upfront fees may include processing, valuation, and registration fees, which FAB may waive or reduce based on eligibility.
Approval timelines vary, with pre-qualification often available within a few days. Full approval may depend on property valuation and document submission.
Yes, FAB offers specialized mortgage products for non-residents interested in purchasing UAE property.
FABCashback Credit Card
Minimum Salary AED 5,000
FIXED RATE 3.50%
LOAN AMOUNT 3.50%
REDUCING RATE 3.50%
DOWN PAYMENT 3.50%
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