Mortgage loans

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Mortgage loans are secured loans used for real estate financing purposes (for example, purchase of a new or existing property, construction of an own property, property renovation or modernization, or remortgage) without paying the entire value up front. A mortgage loan is secured by the collateral of specified real estate property.

Consumers to finance home purchases use mortgages. Because most homes cost much more than the average person makes in a year, mortgages are designed to make home buying accessible by spreading out the cost over many years. The most common home loan is the 30-year fixed-rate mortgage. This loan is repaid in fixed monthly installments over the course of 30 years in a process called amortization. Mortgages with term lengths of 15 or 20 years are also offered, but are far less common—as their monthly payment is much higher than the 30-year variety.

VA Loan

FHA Loan

Conventional Mortgage

Mortgage Insurance


Upfront and annual premium for the life of the loan

Paid until 20% equity is reached

Minimum Down Payment

None required

3.5% of home value required

3% of home value for most qualified borrowers

Credit Score Minimum

Varies by applicant

  • 500 for 10% down payments
  • 580 for 3.5% down payment
  • 620 for fixed-rate
  • 640 for adjustable-rate


If you're a new or an existing Premier customer and you're aged 18 or over, you can apply for a loan of USD 50,000or more. To be eligible, you must hold Noor Bank accounts and investments with a minimum relationship balance of USD 500,000

The maximum age at the end of the loan term for a capital repayment plan is 75. For joint applications it's the age of the oldest applicant.

This product may not be available in all countries.