How much mortgage are you looking for?
Use our mortgage calculator to quickly estimate your total mortgage payment including principal and interest, plus estimates for PMI, property taxes, home insurance and Government fees. Enter the price of a property and down payment amount to calculate your estimated mortgage payment with an itemized breakdown and schedule. Adjust the loan details to fit your scenario more accurately.
Disclaimer; this is an indicative figure
Property Price
Down Payment
Mortgage Length
Our popular mortgage products
3 years fixed
4.69%
Mortgage type
3 years fixed
Monthly payment
AED 14,983.63
5 years fixed
5.29%
Mortgage type
5 years fixed
Monthly payment
AED 15,203.51
Variable rate
6.00%
Mortgage type
Variable rate
Monthly payment
AED 15,466.51
How to calculate mortgage payments
Our mortgage calculator gives you the opportunity to customize your mortgage details while making assumptions for fields you may not know quite yet. These autofill elements make the home loan calculator easy to use and can be updated at any point.
Remember, your monthly house payment includes more than just repaying the amount you borrowed to purchase the home. The "principal" is the amount you borrowed and have to pay back (the loan itself), and the interest is the amount the lender charges for lending you the money.
For most borrowers, the total monthly payment sent to your mortgage lender includes other costs, such as homeowner's insurance and taxes. If you have an escrow account, you pay a set amount toward these additional expenses as part of your monthly mortgage payment, which also includes your principal and interest. Your mortgage lender typically holds the money in the escrow account until those insurance and tax bills are due, and then pays them on your behalf. If your loan requires other types of insurance like private mortgage insurance (PMI), these premiums may also be included in your total mortgage payment.
Home price
The price is either the amount you paid for a home or the amount you may pay for a future home purchase.
Down payment
Most home loans require at least 3% of the price of the home as a down payment. Some loans, like VA loans and some USDA loans allow zero down. Although it's a myth that a 20% down payment is required to obtain a loan, keep in mind that the higher your down payment, the lower your monthly payment. A 20% down payment also allows you to avoid paying private mortgage insurance on your loan.
Dubai Land Department Fees
4% of the property price + Admin fees (AED 580).
Interest rate
Mortgage interest is the cost you pay your lender each year to borrow their money, expressed as a percentage rate. The calculator auto-populates the current average interest rate.
PMI
Private Mortgage Insurance (PMI) is calculated based on your credit score and amount of down payment. If your loan amount is greater than 80% of the home purchase price, lenders require insurance on their investment. This is a monthly cost that increases your mortgage payment.
Property taxes
Your estimated annual property tax is based on the home purchase price. The total is divided by 12 months and applied to each monthly mortgage payment. If you know the specific amount of taxes, add as an annual total.
Home insurance
Homeowner's insurance is based on the home price, and is expressed as an annual premium. The calculator divides that total by 12 months to adjust your monthly mortgage payment. Average annual premiums usually cost less than 1% of the home price and protect your liability as the property owner and insure against hazards, loss, etc.