Established in 2012, the Abu Dhabi Housing Authority offers various housing schemes for the capital’s residents. The authority oversees housing initiatives and their implementation in the Emirate. One can avail of different loan services by Abu Dhabi Housing Authority. These loans are offered for house construction, maintenance and other relevant purposes.
Here are the details of the house loan services by the Abu Dhabi Housing Authority (ADHA).
Different Housing Loan Services by ADHA
ADHA offers a host of services and tools for housing while encouraging the private sector to invest in them. Besides, one can avail complementary and exemption services, residential land purchase and housing grants.
For housing loans, ADHA provides several feasible options for the maintenance and purchase of the property. Residents can also calculate loan value through this service. Also, for all the housing loan services, the process for application remains as follows:
- The applicant has to submit the required document and application on the TAMM portal.
- The applicant will then be notified via text message.
Moreover, the applicants must submit their Emirates ID to avail all the housing loan services by ADHA. These loan services are free. Here are the details of the ADHA Housing loans and their conditions. Let’s go through them in detail.
ADHA Expansion and Addition to an Existing House Loan
Through this service, the applicant can request up to AED 750,000 for expanding and adding to their house. The loan is paid in monthly instalments under ADHA’s policy with a repayment period of ten years.
TERMS AND CONDITIONS
The terms for ADHA expansion and addition to an existing house loan are as follows:
- The applicant must be a citizen of the state They should reside in the state continuously.
- To avail the loan, the applicant or their spouse must not have gotten any former loans from the federal or the government. However, any house loan availed by the wife before marriage or loans in polygamy are exempted from this condition.
- The applicant must own a house in the Emirate, registered under their name. This condition is exempted for those who will submit a loan request to buy a house in Abu Dhabi.
- The applicant must be an individual except when they are co-owning the house.
- The applicant must pay all the instalments incurred by the House loan beneficiary.
- The certificate of house completion must have a date of more than ten years.
- The requested loan must be used for the expansion or addition of the house, adhering to ADHA’s policy. The guidelines set by ADHA loan services must be strictly followed.
- For citizens who have a limited income, they can pay off the loan once their finances improve. Also, they must follow the rules set by ADHA to pay the loans.
- If the applicant is requested to provide for the extra amount other than the loan, they must present proof. The consultant will not be assigned tasks until this condition is fulfilled.
- The entire land owned or granted to the applicant must be mortgaged as first-degree insurance. This must be done until the loan is paid off. Also, the mortgage and dispositions must be registered in the real estate register before availing the loan.
- There are special terms for those who can avail the ADHA Expansion and addition to an existing house loan.
TERMS AND CONDITIONS FOR MALES:
The applicant must be 25 years of age. It is not necessary to be married, however, loans can’t be granted to humanitarian or social cases.
TERMS AND CONDITIONS FOR WIDOWS:
- To avail the loan, the widow must be a custodian of one or more children. However, in the case of elderly widows who are unable to have any children, they are exempted from the condition. They must have a medical report provided by the authority.
- Widows who are non-citizens must have lived for more than five consecutive years in the Emirate to avail the loan.
TERMS AND CONDITIONS FOR UNMARRIED FEMALE CITIZENS:
- The minimum age is 30 years old. It is not necessary to be married, however, loans can’t be granted to humanitarian or social cases.
- If the breadwinner for the unmarried female cannot provide for the house through legal means, then she will be responsible for the house for her second-degree relatives.
TERMS AND CONDITIONS FOR DIVORCEE:
- The required minimum age is 30 years old. It is not necessary to be married, however, loans can’t be granted to humanitarian or social cases.
- The divorce must be irrevocable. If it is not, then the divorce elapse must be three years.
- The divorcee must be a custodian of one or more children. However, in the case of the elderly who are unable to have any children, they are exempted from the condition. They must have a medical report provided by the authority.
- Non-citizen divorcees must have lived for more than five consecutive years in the Emirate to avail the loan.
TERMS AND CONDITIONS FOR FEMALE CITIZENS MARRIED TO A NON-CITIZEN:
- The required minimum age is 30 years old. It is not necessary to be married, however, loans can’t be granted to humanitarian or social cases.
- They must be a custodian of one or more children. However, in the case of the elderly who are unable to have any children, they are exempted from the condition. They must also have a medical report provided by the authority.
- The applicant must reside in the Emirate with her husband and children for seven consecutive years to request the loan.
- If the father of the children can not provide for the house, then the following conditions are implemented:
- The income of the applicant must be limited.
- They can not earn due to a medical report issued by the authority.
- They are bankrupt or insolvent.
- They live continuously outside the Emirate and refuse to provide a house or rent in case their residence is unknown.
- The non-citizen must undertake to not apply for any residential loan when they attain state citizenship.
ADHA Demolition and Reconstruction Housing Loan
Through the ADHA Demolition and Reconstruction Housing Loan, the resident can request AED 1,750,000. The applicant shall use the amount to tear down their old home and construct a new house on the same land. The loan is repaid as monthly instalments under ADHA guidelines. Also, the repayment time is 25 years.
TERMS AND CONDITIONS
The terms for ADHA Demolition and Reconstruction Housing Loan are the same as the Expansion and Addition to a Housing Loan.
ADHA House Maintenance and Expansion Loan
Through this loan service, the applicant requests up to AED 1,100,000 to maintain or expand their existing house. Under ADHA’s guidelines, the loan must be paid within 18 years from the approval date.
Moreover, the house for which the loan is requested should be expandable and habitable. It must require maintenance and there must be no intentional damage by the applicant. The loan will be granted based on ADHA’s technical and social report of the property.
TERMS AND CONDITIONS
The required conditions for the ADHA House Maintenance and Expansion Loan are the same as the former two loan services.
ADHA Modify Approved Housing Loan
This service allows the applicants to amend the details of their approved residential loan. The approval can be transferred and the loan can be used for another residence.
TERMS AND CONDITIONS
- The applicant should be a citizen of the Emirates and hold the Abu Dhabi family book.
- They must have completed 21 calendar years.
- The applicant must own another residential property in Abu Dhabi. It should be functional and up-to-date with current legal policies.
- ADHA must approve the application.
ADHA House Construction Loan
The applicant can avail a minimum of AED 1,250,000 and a maximum of AED 2,000,000 loan. They shall use the amount to construct their house on granted residential land or private property. The loan is to be paid in instalments with the first instalment within two years. The total loan repayment time is 25 years.
TERMS AND CONDITIONS
The terms to be fulfilled are the same as the ADHA Demolition and Reconstruction Housing Loan.
ADHA House Maintenance Loan
The loan allows the residents to maintain their existing house for an amount of up to AED 500,000. It is repaid in monthly instalments within 15 years of the approval date. The first instalment must be paid within two years of the loan approval.
TERMS AND CONDITIONS
The terms to be fulfilled are the same as the ADHA Demolition and Reconstruction Housing Loan.
ADHA House Purchase Loan
This loan allows residents to request up to AED 1,750,000 to purchase a house in the Emirate. The house purchased must be developed by an approved real estate developer in Abu Dhabi. The loan shall be repaid within 25 years of the request approval date. Moreover, a loan of AED 250,000 is granted if the house infrastructure is not paid for by the government.
TERMS AND CONDITIONS
The terms for this service are the same as the ADHA Demolition and Reconstruction Housing Loan. However, some additional conditions are as follows:
- The applicant must not have a limited income.
- The house should be purchased to provide for the applicant’s family.
- If the applicant has availed of any residential loan before, they must cancel the house construction loan to avail of the purchase loan.
- If the house is to be purchased from the local Abu Dhabi market, the following conditions apply:
- If the house already exists, it must be ready to inhabit.
- It should be habitable for 25 years from the purchase date.
- The house should not be under any legal disputes.
- It must be commensurate with the applicant’s varying family size during the shell life as per ADHA rules.
The Emirates government offers feasible initiatives to those who are looking to get a residence. If you are a resident of Dubai, these home loans in Dubai will help you get your preferred residence.
This is all on the loan services by Abu Dhabi Housing Authority. These loans offer feasible options for residents to purchase and maintain their homes. Besides, if you are looking for a new residence in the Emirate, go through these apartments for rent in Abu Dhabi for budget-friendly options.
Additionally, one must also know property buying and ownership laws in Abu Dhabi for foreigners before investing.
Stay connected to dubizzle’s real estate blog for more on different housing programmes across the Emirates.
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