Need advice about buying apartment
Shortly. I am living in Dubai last 13 years , have family , wife and two doughters . Have my own small It business with random monthly personal income 35-60kaed, not affected too much last few month. My wife working as senior architecture with current salary 23kaed (expecting reducing till 15-16 due of current situation or temporary loss of their job ) . We are renting 2bhk apartment near Al Furjan metro . Paying for school 1st class and in two years 2nd doughter go to school . Strongly believe , we settled in uae for long , 10 up years . For now, I have 400k Aed cash savings . And capable to afford 150k Aed annually for possible mortgage in future. Have two cars, bought by cash , no loans or any other mortgages . In 4 month we have to vacate apartment or renew rent contract . So, question is, I am thinking about to buy 2bhk , in same area where i am living , and pay next 6-10 years mortgage, finally to live in own apartment . What is my chances ? And I have heard banks very difficult give loans for business owners.