Eligibility for NBF Islamic Home Finance

Owning a home is a foundation that should be built for every family. It brings a sense of belonging and something that children can always come back to once they are grown and out of the home. Not everyone can afford to spend thousands in cash on a home, though — that’s where NBF Islamic Home Finance comes in.

Because your traditions and values are meaningful, NBF Home Finance is based on the principle of Ijara and is Shari’a compliant. You can build your family’s future and have an investment of your dreams with the help of home finance.

Features of NBF Home Finance

• Finance up to AED 20 million
• Competitive rates
• Transparent EIBOR-linked pricing structure
• Flexible payment period (up to 25 years)
• Financing for freehold and leasehold properties
• Financing up to 80% of the current property value
• Transfer of existing home finance
• Free for life NBF Islamic Platinum Credit Card

Simple documentation and fast approvals (of up to seven working days) also mean you won’t be left wondering, and you will be provided with a relationship manager that will cater to your every need along the way.

While transferring your salary to NBF is not mandatory, it is recommended to ensure peace of mind. You can also apply with two incomes, and anyone else whose income is considered in the application will be considered a co-financer.

Eligibility for Home Finance

You are eligible to apply for NBF Islamic Home Finance if you are 21 years old or older, earning a salary or are self-employed, and you reside anywhere in the UAE.

On application, you will need to provide documents. These documents are necessary to confirm all of your eligibility requirements.

Provide:

• A copy of your valid passport
• An original salary certificate from your employer
• Bank statements dating back to the past six months
• Property documents (as required)

A few things will be considered when your application is being evaluated including your income stream, your employment history and stability, your ability to handle your current obligations and new ones, the value of the property being purchased or refinanced, and your assets (to assess your ability to meet your down payment).

Ensure the Property is Legitimate

There are a few things that you can consider when ensuring the property that you are looking to purchase is legitimate before applying for NBF Islamic Finance. Always buy directly from and through a reputable developer or a reputed broker. Ensure that your property documents are signed and stamped accordingly by the developer as well as the owners. Ensure your down payment receipts are stamped and in your possession.

Welcome to Your Future in Home Finance

Once you’ve dotted all the i’s and crossed all the t’s, you can welcome your future with arms wide open. Home finance is essential for building the foundation for your family’s future.