Can Expats Get a Mortgage in Dubai?
Yes. UAE banks lend to both UAE residents and non-residents. Under the Central Bank's mortgage regulations, expatriates buying a first home can borrow up to 80% of the value for homes below AED 5 million and up to 70% above that, so the minimum deposit is 20% (plus fees). UAE nationals can borrow up to 85% and 75% respectively. Lending to non-residents is set by each bank's own policy. Banks may apply stricter terms.
How Much Can You Borrow?
Expat first home under AED 5M: max 80% LTV
Expat first home above AED 5M: max 70% LTV
UAE nationals first home: max 85% (under AED 5M) / 75% (above)
Second homes: lower limits (60% for expats); off-plan: max 50%
Non-residents: set by each bank's policy
Total debt repayments capped at 50% of income
Maximum mortgage term: 25 years (age limits set by each bank)
Fixed vs Variable Rate Mortgages
01
Fixed Rate
Your interest rate is locked for a set period (typically 1–5 years). Offers certainty and protection against rate rises. Usually slightly higher than variable but predictable monthly payments.
02
Variable Rate
Rate tracks the Emirates Interbank Offered Rate (EIBOR). Can go up or down with market conditions. Often starts lower but carries risk if rates rise.
03
Which is Right for You?
If you plan to hold the property long-term and want payment certainty, fixed is safer. If you believe rates will fall or plan to sell within a few years, variable may save money.
Step-by-Step Mortgage Process
01
Pre-Approval
Submit your income documents to the bank. They assess your salary, liabilities and credit history and issue a pre-approval letter — valid for 60–90 days.
02
Property Valuation
The bank commissions an independent valuation of the property. The mortgage is based on the lower of purchase price or valuation.
03
Final Offer Letter
Bank issues the final mortgage offer. Review all terms — interest rate, fees, early settlement penalties.
04
Sign & Register
Mortgage is signed at the DLD Trustee Office simultaneously with the property transfer. Mortgage registration fee of 0.25% of loan applies.
Frequently Asked Questions
What documents do I need for a UAE mortgage?
Typically: passport copy, UAE residence visa, Emirates ID, last 3–6 months bank statements, last 3 months salary slips (or audited accounts if self-employed), employment letter, and the property's MOU/SPA.
How long does mortgage approval take?
Pre-approval typically takes 3–5 working days. Full approval and disbursement takes 2–4 weeks depending on the bank and property type.
Can I get a mortgage as a non-resident?
Yes. Several UAE banks lend to non-residents; the maximum loan-to-value is set by each bank's policy. Requirements are stricter — you'll need to show income from abroad and a clean credit history.
Are there early settlement penalties?
Yes — typically 1–3% of the outstanding loan balance if you settle within the fixed rate period. Check your mortgage terms carefully before settling early.