FAB Green Mortgage
Opt for Green Mortgages for Energy Efficiency and Sustainability.
Introduction
Help to build a greener home for future generations
Key Features
60-day grace period before your first instalment or 120-days for mortgage transfers
Further waivers on processing or valuation fees
Additional discounts on property insurance, content insurance and partial settlement fees
Additional Benefits
Conditions
This offer is in line with the UAE Vision 2021 Agenda for Sustainable Environment and Infrastructure. The properties that are eligible for this offer should comply with any of the following recognized certifications:
LEED: Silver or above
BREEM: Good or Above
Estidama: 2 Pearls or above
HQE: Good or above
CASBEE: B+ Good or above
Green Star: 4 Stars or above
Mostadam: Bronze and Above
Al Sa’fat Dubai Green Building System: Gold or higher
Singapore Building and Construction Authority (BCA) Green Mark: Gold or higher
Al Ghafa program by Ministry of Energy and Infrastructure
Apply for FAB Green Mortgage
Apply here
Eligibility
The Mortgage Application Process
Applying for a mortgage with FAB is easy. Start the journey to your new home with these simple steps:
1. Submit your interest
Fill in a form online or contact one of our specialists directly to begin the process. You can use our mortgage calculator for an estimation of your monthly repayments. https://www.bankfab.com/en-ae/personal/mortgages/mortgage-calculator
2. Consultation
A member of our team will contact you to discuss your eligibility and product offerings. They will advise on the next steps and how to move forward. Once you have an idea of your budget, you can start to look for your home. In addition, you can apply for an approval in principle (AIP) through our specialist to get an estimate of how much you will be eligible to borrow.
3. Valuation of your home
Once you find your property, you need to sign a MOU (Memorandum of Understanding) with your agent and to arrange a valuation of your home with a FAB Home Representative.
4. Complete and submit required documentation
You will then fill in any required applications and provide the documentation needed for final approval, i.e., Mortgage Application Form Income Proof, Sale and Purchase Agreement and any other items that your mortgage specialist advises on. Once completed, the mortgage specialist will submit your application to the bank for the final decision.
5. Signing the home offer letter and mortgage approval
Your mortgage loan undergoes the process of application approval. The FAB Home Representative will confirm all your documentation. Once your loan application is approved by the bank, you will need to sign an acceptance of the offer letter, together with the Mortgage Terms and Conditions. Take note that you may be requested to pay related bank charges (i.e., documentation processing fee, valuation fee, property all risk insurance) as well as to furnish evidence of the loan difference between the loan amount and the property purchase amount. You're one step closer to your new home!
6. Registration and Disbursal
The final steps are completed, and your dedicated mortgage specialist will assist you with how to proceed. You will need to visit the Land Department and register your home as well as to mortgage your property to the bank. Subsequently, the loan will be disbursed and a Manager Cheque (MC) or account transfer will be done to the seller, developer or third party.
7. Completion
The property is yours. Please remember to commence your monthly commitment to the bank.