How do I choose the right mortgage for me?

here are several factors you need to consider. These factors include, but are not limited to: Your Lifestyle The type of property you want to buy. The loan amount you need The cash deposit amount you need to pay Most banks and consultancies like Money Maestro have their online mortgage calculators that allow you to input your variables and get the idea of their monthly installments under applicable rate of interest in Dubai.

Property Value (AED):

Down Payment (AED):

Interest Rate (%):

Tenure (Years):

Loan Value: AED 99000.00

Monthly Payment: AED 8254.47

Mortgage Calculator in Dubai & UAE

Make informed decisions

When obtaining a home loan to purchase your ideal property in Dubai, utilize our free mortgage calculator to calculate your monthly mortgage payments.

Take the first step in your investment research journey in the UAE. Make use of Money Maestro’s easy and efficient mortgage calculator, and ascertain your potential mortgage costs to aid your financial planning.

By adjusting the metrics provided in our user-friendly calculator, you can identify a comfortable tenure of your mortgage, your total loan amount over the tenure and your monthly mortgage installment.

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What is a Home Loan Mortgage Calculator?

A Home Loan Mortgage Calculator is similar to an EMI calculator but offers more comprehensive insights. It calculates your monthly mortgage payments based on the loan amount, interest rate, and tenure. Additionally, it may include other costs like property taxes, insurance, and homeowners association (HOA) fees, giving you a more accurate estimate of your total monthly payments.

For example, if you're buying a home for $300,000 and want to know how different down payments, interest rates, and loan terms affect your monthly mortgage, the calculator will provide detailed estimates. This helps you plan your finances and make informed decisions about your home loan.

Benefits of Using Money Maestro’s Home Loan Calculators

Financial Planning: Knowing your monthly payments allows you to plan your budget effectively, ensuring that you can comfortably afford your home loan.
Interest Rate Comparison: You can compare different interest rates to find the best loan option, helping you save money in the long run.
Loan Tenure Flexibility: The calculators allow you to experiment with different loan tenures, so you can choose a term that balances monthly payments and total interest costs.
Pre-Approval Insights: By using the calculator, you can get a rough estimate of the loan amount you might be pre-approved for, giving you an edge when negotiating with lenders.
Cost Transparency: The mortgage calculator includes additional costs like taxes and insurance, ensuring you’re aware of the total financial commitment.

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Frequently Asked Questions

A mortgage calculator is a tool that helps you estimate your monthly mortgage payments based on various factors, such as the loan amount, interest rate, loan term, and down payment. It can also provide insights into how much interest you'll pay over the life of the loan and help you understand the impact of additional payments or changes in interest rates. Many calculators also offer options to factor in property taxes, homeowners insurance, and PMI (private mortgage insurance) to give you a more comprehensive view of your total housing costs.

UAE law says that UAE nationals, UAE residents as well as Non residents, all are eligible to get a loan (mortgage) in UAE to buy the property. You can apply for a mortgage in Dubai if you are—

A UAE national or resident/Non Resident
Aged between 21 to 65
Have a monthly income of AED 10K (salaried) and AED 20K (self-employed)

Money Maestro’s mortgage calculator enables users to ascertain their possible monthly mortgage installments. By adjusting other factors available in the calculator, one can also identify their total loan value for their desired property, a comfortable down payment amount, and their desired loan tenure with the best interest rates in the market.

In case you are a UAE national, you are eligible to get 90% of the total amount financed by the bank. In case of an Expat you can get 85% of the purchase amount financed.

An EMI calculator focuses on calculating your monthly installment for a home loan, including principal and interest. A mortgage calculator, on the other hand, offers a more detailed analysis, including additional costs like taxes, insurance, and fees, providing a comprehensive view of your total monthly obligations.

There are several factors you need to consider. These factors include, but are not limited to:

Your Lifestyle
The type of property you want to buy.
The loan amount you need
The cash deposit amount you need to pay

Most banks and consultancies like Money Maestro have their online mortgage calculators that allow you to input your variables and get the idea of their monthly installments under applicable rate of interest in Dubai.

Yes, Mortgage calculators can be used to estimate payments for refinancing an existing mortgage. By inputting your current loan balance, interest rate, and tenure, you can see how refinancing may affect your payments.

Yes, Money Maestro’s Home Loan EMI/Moratgage Calculator is free to use. You can access them online at any time to plan your home loan.

If the interest rate changes after you’ve taken out the loan, you can use the mortgage calculator to recalculate your payments based on the new rate. This helps you stay prepared for any changes in your financial obligations.

Money Maestro’s Home Loan EMI Calculator and Mortgage Calculator are designed to make your home-buying process as smooth as possible. By offering clear, accurate, and user-friendly tools, Money Maestro helps you make informed decisions and secure the best loan terms for your dream home.