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Is there any home finance in UAE available that doesnt require your salary atleast 8000 dhs. I want to buy a property in sharah through a local, the price is 500,000 dhs. But all banks require salary atleast 8000 dhs. The total household income is 12000 dhs. Can someone help?

bsorc wrote:Is there any home finance in UAE available that doesnt require your salary atleast 8000 dhs. I want to buy a property in sharah through a local, the price is 500,000 dhs. But all banks require salary atleast 8000 dhs. The total household income is 12000 dhs. Can someone help?

It would take approx 4000 dh per month to service a 500k loan over 20 years. This is 50% of 8000 so I can somewhat understand the minimum (somewhat).

What do you mean by 'household' income?

I can afford to pay 4000 dhs a month because the household income,meaning other members of the family earnings come to total 12000 dhs.

bsorc wrote:I can afford to pay 4000 dhs a month because the household income,meaning other members of the family earnings come to total 12000 dhs.

Yes but what other members of the family? If it is your wife and yourself you can do a joint loan application.

If it's your best friend... you're out of luck.

Its with my dad and sister. Actually the total income goes above 12000 Dhs but banks arent accepting unless salary is 8000 dhs.