Buying your first home in Dubai? Avoid common home loan mistakes that could cost you in the long run. Many first-time buyers fail to research property loan interest rates, leading to higher costs. Understanding mortgage rates for first-time home buyers can help you secure better terms.

One common mistake is not comparing mortgage rates in UAE. The best mortgage rates can vary between lenders, so working with experienced mortgage consultants can help you find the most favorable options. Additionally, many buyers opt for mortgage loans with low down payment options without considering long-term financial implications.

Another crucial factor is choosing the right loan tenure. A shorter tenure may mean higher monthly payments, while a longer one could lead to more interest costs. Failing to assess your affordability can lead to financial strain.

To secure the best mortgage deal, research your options, compare property loan interest rates, and consult with professionals. Make informed decisions and avoid costly mistakes when purchasing your first home.