An investment property loan is a mortgage taken out on an investment property, which is a property that is not your primary residence. The loan is used to purchase the property and can be used for repairs and renovations as well.
The reason you would need an investment property loan is because these properties are usually more expensive than a primary residence, so a regular mortgage may not be possible. Investment property loans usually have higher interest rates and down payment requirements than regular mortgages, but they can still be a good way to finance an investment property.
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If you’re looking for an investment property loan in the UAE, here are five of the best providers:
1. Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank offers investment property loans with up to 60% financing for both resident and non-resident investors. The interest rate on the loan is 4.99% per year, and there is no minimum down payment required.
2. Emirates NBD
Emirates NBD offers investment property loans with up to 60% financing for both resident and non-resident investors. The interest rate on the loan is 5.99% per year, and there is no minimum down payment required.
3. First Gulf Bank
First Gulf Bank offers investment property loans with up to 60% financing for both resident and non-resident investors. The interest rate on the loan is 5.99% per year, and there is no minimum down payment required.
4. Mashreq Bank
Mashreq Bank offers investment property loans with up to 60% financing for both resident and non-resident investors. The interest rate on the loan is 6.50% per year, and there is no minimum down payment required.
5. Dubai Islamic Bank
Dubai Islamic Bank offers investment property loans with up to 60% financing for both resident and non-resident investors. The interest rate on the loan is 5.99% per year, and there is no minimum down payment required.
Conclusion:
If you’re looking for an investment property loan in the UAE, there are a few different options available to you. Abu Dhabi Islamic Bank, Emirates NBD, First Gulf Bank, Mashreq Bank, and Dubai Islamic Bank all offer loans with up to 60% financing and no minimum down payment required.
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