Can I afford a 2,000,000 AED home?

Let’s say you want to borrow 2,000,000 AED for the maximum 25 year-period. How much do you need in monthly salary?

Example:

• • You are under the age of 40 years.
  • Have a steady job and fixed income.
  • You have no other loans.
  • You choose a fixed repayment rate during the 25 year mortgage loan period (fixed rate = the same sum every month).
  • The interest rate is 4%.

• • (1) Your monthly salary has to be 23,810 AED. 2,000,000 AED / 12 months / 7 = 23,810 AED.
  • (2) Your monthly salary has to be 28,571 AED. 2,000,000 AED / 70 months = 28,571 AED.
  • (3) Your monthly salary has to be 26,667 AED. 2,000,000 AED / 25 years / 12 months x 4 = 26,667 AED

• In lowest case your monthly salary needs to be 23,810 AED to borrow 2,000,000 AED.
• In highest case your salary has to be 26,667 AED to borrow 2,000,000 AED.

It’s always good to have fluctuating rates in mind:

• • (4) Monthly interest rate payment at 4% = 6,666 AED | 5% = 8,334 AED. | 6% = 10,000 AED.

Get started with your mortgage

Name *

Phone number *

Please enter your valid mobile number

Property price

Selected Value: 2000000

Approximate price of your intended property

Monthly salary *

Basic monthly salary with bank statements of minimum of 3 months available

Have you found a property? *–NoYes

To assist you better, we’d like to know: Have you found a specific property, or are you just curious and browsing?

Do you have the required down payment of 20%? *–NoYes

The down payment is a portion of the home’s purchase price paid upfront in cash. Typically, it’s at least 20% of the total price.

Get me pre-approved!