UAE's 1st Digital Property Transaction Platform

Mortgage Calculator: So, you are planning to buy a property but don't have enough money to pay for it all at once. You borrow some money from a bank, and they want you to pay them back over time. A mortgage calculator is like a spec ial tool that helps you figure out how much money you'll have to pay each month to the bank to buy your property. Property Price (AED): This is just another way of saying how much the property costs.
Down Payment: When you want to buy something, like your own property, you usually need to give a small part of the money upfront. It's like saying, "I'm serious about buying this property!" This upfront money is called the down payment.
Loan Duration (Years): This is like a promise you make to the bank about how long you'll take to pay back all the money they lent you. Think of it as a plan for how many years you'll be paying for your property. For example, if you say it's 10 years, it means you'll make payments for 10 years.
Annual Interest Rate: Sometimes, when you borrow money from the bank, they want a little extra as a fee for letting you borrow their money. This fee is called interest. The annual interest rate is like a percentage that tells you how much extra you'll need to pay each year on top of the money you borrowed. For instance, if the rate is 5%, and you borrowed 100 AED, you'd have to pay an extra 5 AED in interest for that year. So, in simple words, a mortgage calculator helps you figure out how much money you'll have to pay each month for your property, considering how much it costs, how much you put down upfront, how long you plan to pay, and the extra fee (interest) you have to give the bank for lending you the money. It's like a tool to help you better plan and understand your property purchase!

Refinancing: Refinancing is like giving your old loan a makeover. Imagine you borrowed some money to buy a cool gadget or a car, and you've been paying it back for a while. Refinancing is when you find a new way to borrow the money again, but this time, it might be cheaper or easier to manage.
Original Loan Amount (AED): The original loan amount is the first amount of money you borrowed. Think of it as the initial amount you got to buy your gadget or car. It's like the starting point of your loan adventure.
Loan Term (Years): Loan term is like a timeline for your loan. It tells you how many years you have to keep making payments until your loan is fully paid off. For example, if you have a 5-year loan term, you'll be making payments for five years.
Time Remaining (Years): Time remaining is how much time you have left to finish paying off your loan. It's like looking at a countdown clock to see how much longer you'll have to make payments.
Interest Rate: Interest rate is like an extra cost you have to pay when you borrow money. It's usually a percentage of the original loan amount. So, if you borrowed AED 100 with a 5% interest rate, you'd have to pay back AED 105 in total.
New Loan Term (Years): When you refinance, you might decide to change how long it takes to pay off your loan. This is the new loan term. You can make it longer (which might mean smaller monthly payments) or shorter (which might mean bigger monthly payments).
Costs and Fees: Sometimes, when you refinance, you have to pay some extra money. These are called costs and fees. It's like a little payment you make for getting a new and improved loan. You want to make sure these costs are worth it in the long run.
Cash-Out Amount: When you refinance, you might get some extra money. This is called the cash-out amount. It's like having some leftover money after you pay off your old loan. You can use this money for something else, like buying new games or saving up for something big.
Remaining Balance (AED): Imagine you borrowed some money, like AED 100, from a friend or a bank to buy something cool, like a new video game. The remaining balance is like a scoreboard or a tracker that tells you how much money you still owe.

House Affordability Calculator: Think of this like a special tool that helps you figure out if you can buy a new property. It's like a magic calculator that considers how much money your family makes, the expenses they have, and how much they owe to see if they can comfortably afford a new house.
Joint Household Income: Remember how we talked about all the money your family makes together? That's called the joint household income. It's like a big money pot that includes what you and other family members earn from their jobs and any other money your family gets.
Monthly Household Income (AED): This is a way to say how much money your family brings in every month. It's like counting all the money your family gets from jobs, maybe some investments, and any other sources of income. For example rentals from a residential or commercial property, shares, investments etc.
Community Fee (AED): If you live in a neighborhood with shared spaces, like a swimming pool or a garden, sometimes you need to pay a fee to keep those places nice. It's like a little cost to help take housee of the fun places in your community. This fee is usually paid every month.
Monthly Debt Repayment: Sometimes, your friends might have borrowed some money in the past to buy important things, like a house or a house. When they pay back that borrowed money, it's called a debt repayment. The monthly debt repayment is how much they pay each month to slowly give the borrowed money back to the person or bank they borrowed it from.
Individual Fixed Income: When you have a fixed source of income, for instance a job , and you get paid a certain amount of money for it. That money you get regularly, like every week or every month, is your "fixed income." It's called "fixed" because it doesn't change a lot.
Gross Monthly Income (AED): Gross monthly income is like the money you earn from your job before you take out any of the things you need to pay for, like taxes or other expenses. Think of it as the full amount of money you make every month from your job.
Down Payment: When you want to buy something, like your own property, you usually need to give a small part of the money upfront. It's like saying, "I'm serious about buying this property!" This upfront money is called the down payment.
Annual Interest Rate: Sometimes, when you borrow money from the bank, they want a little extra as a fee for letting you borrow their money. This fee is called interest. The annual interest rate is like a percentage that tells you how much extra you'll need to pay each year on top of the money you borrowed. For instance, if the rate is 5%, and you borrowed 100 AED, you'd have to pay an extra 5 AED in interest for that year. So, a house affordability calculator is like a smart tool that helps you figure out if they can afford to buy a new house, considering all the money they make, the expenses they have, like the community fee, and any loans they're paying back. It's like a financial wizard that helps your family make good decisions about buying a house!

Amortization: It is like a special way of repaying a loan, like when you borrow money from the bank. Instead of paying back all the money you borrowed at once, which can be really hard, you make small, regular payments over time. These payments cover both the money you borrowed (the loan amount) and a little extra money (interest) to thank the bank for lending you the money.
Loan Amount (AED): Imagine you want to buy a new house, but you don't have enough money to pay for it right away. So, you go to the bank, and they agree to lend you some money to buy the house. The amount of money they lend you is called the "loan amount." It's like saying, "Here's the money you need to buy the house, but you have to pay it back later."
Loan Interest Rate: When the bank lends you money, they don't do it for free. They ask for a little extra money in return, and this extra money is called "interest." The loan interest rate tells you how much extra money you have to pay on top of the loan amount. It's usually a percentage, like 5% or 10%. So, if you borrow AED100 with a 5% interest rate, you'll have to pay back AED105 in total.
Loan Term (Years): The loan term is like a timetable for paying back the money you borrowed. It tells you how many years you have to make your payments until the loan is fully paid off. Think of it as a schedule for how long you'll be repaying the bank for the money they lent you. For example, if you have a 5-year loan term, you'll be making payments for five years until the loan is all paid off. To sum it up, "Amortization" is a way of repaying a loan with regular payments, "Loan Amount (AED)" is the money you borrow, "Loan Interest Rate" is the extra money you pay to the bank for borrowing that money, and "Loan Term (Years)" is how long it takes to repay the loan. It's like getting a house loan from the bank and figuring out how you'll pay for it over time.

Rent vs. Buy: Imagine you want to live in a house, and you have two options: renting or buying. Renting is like borrowing the house for a while, and buying is like owning it for a long time. We'll look at some factors to help you decide which option might be better for you.
Current Monthly Rent: If you choose to rent, this is the amount of money you pay every month to live in the house. It's like a monthly fee for using the house.
Yearly Rent Increase in %: When you rent, the landlord might increase your rent each year. This percentage tells you how much more your rent will go up each year. For example, if your rent is AED 1,000 and it increases by 5% each year, next year you'd pay AED 1,050.
UAE National: This term refers to someone who is a citizen of the United Arab Emirates
Resident: A resident is someone who lives in a place, like a city or country, for a longer time, like having a permanent home there.
Non-Resident: A non-resident is someone who doesn't live in a place permanently. They might live there for a short time or visit, but it's not their main home.
Exact Property Price: If you decide to buy a house, this is the total cost of the house. It's like the price tag on a toy or a video game, but much bigger!
Down Payment: When you want to buy something, like your own property, you usually need to give a small part of the money upfront. It's like saying, "I'm serious about buying this property!" This upfront money is called the down payment.
Expected Loan Amount: This is the money you borrow from a bank to buy the house, minus your down payment. It's like a loan to help you pay for the house.
Interest Rate: Interest rate is like an extra cost you have to pay when you borrow money. It's usually a percentage of the original loan amount. So, if you borrowed AED 100 with a 5% interest rate, you'd have to pay back AED 105 in total..
Loan Term (Years): It's the timeline for paying back the loan you borrowed to buy the house. For example, if you have a 20-year loan term, you'll be making payments for 20 years to pay off the loan.
Plan Years to Live: This is how long you think you'll want to live in the house. It's like making a plan for how many years you want to stay there.
Yearly Appreciation in %: Properties can become more valuable over time, like how your favorite toy might become a collector's item. This percentage tells you how much the house's value might go up each year.
So, when deciding whether to rent or buy a house, you'll need to consider all these things to see which option makes the most sense for you and your family. It's like choosing between renting a car or owning it - each option has its pros and cons!