This Startup, Lenddoo, has built UAE’s best mortgage calculator which helps homebuyers reduce their EMIs

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it’s a Smart, AI powered, mortgage Calculator

Lenddoo’s UAE mortgage calculator helps UAE home buyers simulate the mortgages they are eligible for, calculate their EMIs and estimate their acquisition costs.

With Lenddoo’s UAE mortgage calculator, you can simulate your mortgage repayment with different home prices, calculate the property down payment, compare the mortgage interest rates, and see how they impact your monthly mortgage payments. It also uses AI to predict the mortgage rates to be potentially proposed by the Banks, based on the property value, down-payment and loan duration.

Lenddoo’s UAE mortgage calculator helps you assess your property acquisition fees

Acquisition fees in the UAE can amount to ~6% of the property value, and these are broken down as per below:

Land department fees

• These are the fees paid to Dubai Land Department (DLD) for the property’s change of ownership
• The fees are: 4% of the property value + 580 AED admin fee, paid by the buyer

Property registration fees

• These fees are for the registration of the property under the buyer’s name
• The fees are: 4,000 AED for properties above 500,000 AED + 5% VAT

Mortgage registration fees

• These fees are to register your mortgage

• The fees are calculated as 0.25% of the mortgage value + 10AED admin fee

Real estate agency fee:

• These fees are paid to your real estate agent
• The fees are usually 2% of the property value + 5% VAT

Bank processing fee

• These fees are paid to the bank to arrange the mortgage
• The fees vary go from 0 to 1% of the mortgage value, depending on the banks and the offers

Valuation fee

• These fees are paid to the valuators to value the property
• Valuation fees vary between 2,500 and 3,500 AED + 5% VAT

Lenddoo’s UAE mortgage calculator helps you reduce your EMI monthly mortgage payments

The less you spend on the purchase price of your home, the less your loan amount will be. But if the seller isn't willing to give you a deal, you have other options.

Extend the maturity of your mortgage

In the UAE, you can have a mortgage up to 25 years depending on your age (assuming you are less than 65 years old at the end of your mortgage, but banks can avail exceptions up to 70 years old.

So rather than trying to squeeze in your payments in a shorter period, you can go for a longer period, and pay back on a regular basis. Most of the UAE banks offer up to 20% free early payments on your mortgage on a yearly basis.

Increase your down payment

The smaller your mortgage, the smaller your monthly payments. If you are willing to put more than the

minimum 15% (UAE National) or 20% (UAE resident), that can help you reduce the monthly payout drastically.

Lenddoo’s Dubai mortgage calculator helps you compare and get UAE’s lowest mortgage rates

Compare mortgage offers and make sure you are getting the best deal for your profile.

In any point of time, there is up to 2% difference between the best offer in the market, and the worse. So there is a lot of value in comparing mortgage offers before settling. Our Dubai mortgage rates comparator can help you find the best deals for your situation.