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When should I apply for mortgage pre-approval?
Pre-Approval will be an advantage while identifying the property of your choice & price. It’s save time for both buyer & seller to finalize the deal.
Zero or reduced bank processing fees can appear attractive but are they good?
This purely depends on the actual Interest rate by the banks which will mitigate the Zero or reduced bank processing fee in the long term relationship. This can be calculated based on various bank terms & conditions. Detail review of related price & charges will decide the Zero or reduced bank processing fee.
How long should my application for mortgage pre-approval take to process?
After your full set of documents are received, 3 to 4 working days for employed individual and 8 to 10 working days for self-employed individuals. It can vary if banks need some clarifications.
How long is my mortgage pre-approval valid for?
For most of the bank pre approval is valid for 30 to 90 days however you can revalidate the same after submitting latest documents to the bank
Can non-residents avail financing in the UAE?
Yes, however various banks T&C for non-residents is applicable subject to additional documents & pricing.