Home Finance for Emiratis

Own your dream home

in the Emirate of your choice

home-loan-res

Up to 85%

of property value

No Salary Transfer mandate

& easy set up

Freehold & Non Freehold

property financing available

Enjoy a wide range of home finance solutions

Discover the best range of house finance options guided by our mortgage experts.With our quick digital pre-approval find out instantly how much finance you qualify for. 
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Shari'ah Structure

Home Finance from Mashreq Al Islami is based on the concept of Ijara (lease based financing). Under the Ijara arrangement, Mashreq Al Islami will buy the property and lease it to you for your use. This is a lease contract wherein Mashreq Al Islami as the Lessor, will lease the property to you as the Lessee, in return for rental payments for a specified term.
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Benefits

High finance mounts of up to AED 10 Mn
Low profit rates with up to 5 years fixed rate option
Ready property financing for salaried and self employed
Salary transfer is not mandatory
Ready property financing in freehold and non-freehold areas of all Emirates
Emirati abaya eligibility lady

Are you ready to apply?

Still got questions?

Shariah Compliant High finance amounts Facility tenor of up to 25 years Attractive profit rates Nominal processing fees and charges Quick turnaround Extended to both salaried and self employed Pre-approval facility to identify finance eligibility Available for ready properties Dedicated Home Finance Relationship Officer for your finance requirements Transparency at all times
Yes, the Lands Department of the Government of Dubai has mandated registration of Ijara and sales for all properties in designated areas of Dubai. As a result, it is now essential for the properties to be registered with the department. The properties need to be registered in the name of Mashreq Al Islami Finance Company PJSC.
Our Relationship Officer will inform you about the status of the application. An offer letter will be given to you on approval.
Yes, all applicants of the property need to be co-lessees.
Yes, the repayment account needs to be a Joint or/and Account.
Yes income of more than one person can be considered for calculation of eligibility of home finance, however all co-applicants, whose income will be considered, will have to be co-lessees to the facility. The co-applicants are subject to acceptance by Mashreq Al Islami Finance Company PJSC.
Fixed Rate Finance has the same rate for the entire term of the Finance. Variable Rate Finance has a rate that can change, causing your monthly payment to increase or decrease depending on fluctuating profit rates
You are required to open a current account with Mashreq Al-Islami,and your payments would be recovered from this account.
The monthly rentals will commence only after the final payment is made to the developer/seller. For example, if the final payment is completed in Dec 2018, only thereafter the monthly rentals will begin from Jan 2019
UAE Nationals as well as Expatriates
Yes, Ijara Home Finance is also available to non Muslims.
Ijara Home Finance offers a Shariah complaint offering, vetted by the Shariah Supervisory Board and is fully transparent with no hidden charges.
Up to 25 years
Our Home Finance Relationship Officer will visit your home/office to complete the formalities.
Within 7-10 working days subject to submission of all the required documents.
Your application will be evaluated on the following criteria: Your income stream Your employment history and stability Your ability to handle current obligations as well as new ones The value of the property being purchased Your assets to assess your ability to meet your down payment
Yes, there are two types of transactions: Full Payment Full payments mean that the first purchaser has made 100% payments to the developer and is selling the property. Here the payments would be made to the first purchaser. Part Payment* Part payments mean that the first purchaser has only paid the down payment and the balance is yet to be made to the developer. Here, the down payment would need to be paid by you to the seller and the balance be made to the developer.
A pre-approval would help you determine your eligibility for a home finance before you decide to finalise a property.
Yes, both Takaful Life Insurance and Property Insurance are mandatory before disbursing the facility amount. It is mandatory that both the insurances should be availed from Salama Islamic Arab Insurance Co. (P.S.C.). Takaful Life Insurance: Life insurance is mandatory Salama Islamic Arab Insurance Co. (P.S.C.)(FOR T&C’s click here) Property Insurance: The Property Insurance premium is calculated on the cost of the property and is available only through Salama Islamic Arab Insurance Co. (P.S.C.). The amount of the insurance contribution / premium will be debited from your account prior to the final disbursal and each year thereafter.
Salaried: Application form Passport copy with valid UAE residence visa Salary Certificate addressed to Mashreq Al Islami Finance Company PJSC Last six months’ original bank statements Liability letter from the bank addressed to Mashreq Al Islami Finance Company PJSC Photocopy of purchase contract Photocopy of down payment receipt Self-employed: Application form Passport copy with valid UAE residence visa (residents only) Last six months’ bank statements – personal and company Liability letter from the bank addressed to Mashreq Al Islami Finance Company PJSC Memorandum and Articles of Association Audited financial statements of last 2 years Board resolution copy Trade license copy Business profile on company letterhead Photocopy of purchase contract Photocopy of down payment receipt * Additional documents may be required on a case-to-case basis.
Yes, we will be the custodians of original property documents. After the finance settlement in full, a no-liability letter certificate and all relevant documents will be handed back to you.
Yes, this acts as security for Mashreq Al Islami Finance Company PJSC in case of non-payment of dues.

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