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Is it public knowledge if I own Property in the U.S. and can I get LOAN in UAE
Can anyone tell it possible that I have property in USA and can get mortgage here in UAE?
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1 Reply
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Yes, owning property in the USA and getting a mortgage in the UAE is possible. There are some important matters you should consider:
Cross-border financing
UAE-based lenders: Some banks and financial institutions in the UAE provide cross-border mortgages for buying or refinancing properties in popular overseas markets such as the US. However, these products are few and may have specific eligibility criteria.
International mortgage providers: Certain global banks and financial institutions offer mortgage products that let you finance property purchases in the US while living in the UAE. These lenders usually operate in both countries.
Eligibility and requirements
Credit profile: Lenders will assess your credit history and financial standing in the United Arab Emirates and America. They might ask for extensive financial information such as your credit score, income details, and assets held in each jurisdiction.
Type of property & location: Your ability to secure an American mortgage from a UAE lender may be influenced by where exactly this home is situated within US borders and its nature (e.g., residential versus commercial).
Down payment: Cross-border home loans typically attract higher down payments than domestic ones. Sometimes, 30% or more of the property’s value might be required upfront.
Legal & tax considerations: Owning property abroad can expose you to certain tax obligations back home. Residing outside one’s country of citizenship does not automatically make someone exempt from fulfilling their civic duties elsewhere. Seek advice from tax consultants who know American and Emirati tax laws.
Other alternatives
Refinancing within the USA: If you already own a house in the USA but need liquid cash for Middle East purposes, you could refinance with an American lender and use the proceeds for UAE endeavors.
Personal loans and Equity release schemes: It may be difficult to arrange a personal loan or emergency fund facility secured against one’s US real estate asset while living so far away… But it is still workable!