A mortgage broker in Dubai will help you find the best deal in the market to suit your home-buying needs. Their job is to get you the best rate according to your eligibility and circumstances. There are hundreds of mortgage products available so researching them all will take your time. Thankfully a mortgage broker will take that task off your hands.
Trying to get to grips with concepts like interest rates and the different types of home loans? If this is your first time buying a property in the UAE, you might be confused by the process. A mortgage broker will be able to explain everything to you in detail and help you get clear on what things mean, how long things might take, and smooth out any bumps in the road.
Real estate in Dubai is big business and there are a lot of expert mortgage brokers out there. More often than not, a mortgage broker will charge fees. Finding a mortgage broker in Dubai doesn't need to be hard or expensive. Here are some questions you might have about using a broker, and our top tips.
How can I find a mortgage broker near me?
If you're looking for a mortgage broker in Dubai, then an online broker is a great place to start. Online mortgage brokers enable you to carry out most of the mortgage comparison and application process online, without speaking to a mortgage broker in person or over the phone.
Online mortgage consultants like Holo have access to over 500 mortgage products from all the banks in the UAE meaning you can be confident we've explored as many options as possible for you. Best of all, our service is free.
How do I know how much I can borrow?
A mortgage broker can help you answer this question. But to save yourself the time you can use an online mortgage calculator in Dubai. This will help you assess your affordability and how much you might be able to borrow.
The Holo Mortgage Calculator takes less than two minutes to use. You don't need any paperwork or documents to hand, you just need to answer a few questions. The calculator will match you to a selection of mortgage products and the best rates in the market; tailored to your circumstances and needs.
Buying a home is a huge commitment. Naturally, you'll want the reassurance that the recommendations are right for you, and you might want to have a chat to understand the differences and benefits of your options. Your broker should give you expert and honest mortgage advice you can trust, so at this point, one of the Holo team will contact you and walk you through everything.
How do I make an application for a Mortgage through a broker?
So, you've explored your options and decided how much you want to borrow and what type of mortgage you want to apply for. You're ready to take the plunge and officially start the home-buying journey. At this stage, your mortgage broker will submit your application for pre-approval from the bank.
To submit your mortgage application, you'll be asked to provide documentation confirming your salary, address, and identity for an affordability check. But don't worry you can do this part online too with Holo.
Upload your documents to our online portal. There are different documents depending on whether you are salaried or self-employed, and whether you are applying as a resident or for a Dubai mortgage for non residents. Donbt worry we'll be transparent with you about what we need from you, and all your personal information is safe and secure with us. Once you've uploaded your docs, we'll submit your application for pre-approval.
What does pre-approval mean?
Pre-approval is a provisional commitment from the bank that they will give you a mortgage subject to the documentation you have provided for your affordability check
Once you have been pre-approved for a mortgage, you can start the exciting part of buying a home; the property search. Having your mortgage pre-approved means that real estate agents and sellers know you're serious about buying and get you those all-important viewings.
Will a mortgage broker charge me fees?
Yes, usually they do. Typically a mortgage broker in Dubai could cost you between AED 2,000 and AED 5,000. But Holo is 100% free. From the moment you make your online application to the minute the keys are in your hands, we won't charge you a penny or a fil.
It doesn't need to be time-consuming or confusing. If you're ready to start your home-buying journey, let Holo handle it.
Use the Holo Mortgage Calculator to explore the best deal for you in under two minutes, for free.
This blog is for educational purposes, but everyone's case is unique, and local guidelines and regulations may change. Our mortgage advisors can help you with any question you may have and have the latest advice. Get in touch.