FAQ's
How much Financing am I eligible for?
American Trust finances up to a maximum of 85% and some cases 90% of the value of the property. This, however, varies from one product to another and from property to property. In addition resident and none resident financing will also determine your eligibility.
What happens if I sell the property before the financing is paid off?
You would need to make an immediate repayment of the outstanding principal amount and the actual prepayment costs only.
How much financing can I afford?
Your total monthly outflows or payments (including the home financing repayments) should not exceed 55 percent of your total monthly income.
What type of properties do you finance?
IWe provide home financing for properties from our approved list of builders. Our financing is available for home construction and for the purchase of existing / ready property. Call our agents to give you a updated list of our approved projects.
How long can the term of financing be?
We can provide financing for up to 25 years.
Can I repay my financing early?
Yes, you may repay your financing early. Our Mortgage Advisors are available to advise you on how to minimize your prepayment costs. As this is a Sharia'a compliant offer, you do not have to pay penal charges for prepayment - only a charge based on the actual prepayment cost will be payable by you.
Can I pay off part of the financing or make extra payments each month?
Yes, you may make lump sum or extra payments. Your Mortgage Advisor can guide you regarding your payment schedule.
Do I need insurance, and if so, what kind ?
Yes, As part of our service, we have an alliance with Insurance companies to provide Family Protection Plan at very competitive rates for all our customers.
What happens if I have to move out of the country during the financing period?
You may continue to repay the installments for the finance by providing us with fresh repayment instructions, or you may prepay the finance arrangement before selling off the property.
How long does it take to get financing?
It takes 24 hours to get your eligibility. It takes 3 days to get pre approved and 10 to 15 days to disburse the funds.
How do you enlist a builder onto your approved list?
Builders are enlisted by American Trust based on a number of factors. Their financial strength, their professional project management capabilities, demand for their properties, and many other salient factors.
