Planning to invest in Dubai Real Estate but are short with money?

How To Apply for A Mortgage in the UAE

Planning to invest in Dubai Real Estate but are short with money? Want to buy a home in Dubai with financing? It is still possible to buy your dream home even if your finances are tight. Expatriates or foreigners in Dubai who wish to apply for a home loan or residential mortgage have the option to contact a financial institution directly or get investment advice from us (contact us).

For expats or foreigners living in Dubai looking to buy a property in Dubai, a financial advisor or mortgage broker can prove to be a valuable asset for gaining an understanding of possible market fluctuations and allowing them to benefit from the best possible opportunities within the community.


No matter if you want to purchase an apartment in Dubai or a villa or townhouse, you can easily qualify for a home loan if you meet the eligibility criteria.

  • A UAE national or resident
  • Aged between 21 and 65
  • Have a monthly income of AED 15K (salaried) and AED 25k (self-employed)

However, the minimum salary for a home loan in Dubai can vary based on the bank based largely to bank policies. 

There’s also provision for Non-residents where they can also explore mortgage options in Dubai. However, their choices are largely limited as very few banks deal with home loans for non-resident property buyers.


So, starting with applying to apply for the mortgage, there’s paperwork in line with the process. The requirements may vary from one bank to another, but for the most banks, you will be required to present the following documents to apply for a mortgage in Dubai:

  • Copy of your passport, residence visa and emirates ID
  • Proof of employment (Salary Certificate) or proof of recurring income 
  • Proof of residence (copy of tenancy contract or DEWA bill)
  • Pay slips and bank statements for the past six months (As evidence that you can afford the investment)
  • The latest statements of your credit cards

If you’re a non-resident applying for a home loan in Dubai, you only need the following paperwork:

  • Copy of your passport
  • Your bank statements for the past three months


Here’s a guide for you in getting a mortgage to finance your home purchase:


Start with finding a lender. Make sure the bank you approach through, must be registered with Dubai Land Department (DLD) to be legally valid. You can choose to go directly with your bank for their available mortgage deals or hire a broker to work on your behalf to get the best mortgage loan in Dubai.

Going through mortgage brokers allows you to focus your efforts on finding the right home instead of getting caught up and lost in the whole mortgage process.


There are different mortgages available in Dubai in categories of fixed-rate and variable-rate mortgages. However, make sure to check the necessary factors matching your circumstances. These factors include, but aren’t limited to:

  • Your lifestyle
  • The type of property you want to buy
  • The loan amount you need 
  • The cash deposit amount you can manage to pay

Most banks have their online mortgage calculators that allow you to input your variables and get an idea of their monthly instalments under the applicable home loan interest rate in Dubai.


This is one of the most important steps in the process of applying for a mortgage in Dubai-Getting a pre-approval. This is an official document issued by the bank as evidence of your eligibility for obtaining housing finance. This document highlights the maximum borrowing limit allowed and at the same time offers greater certainty of obtaining a home loan. A bank may normally take three to five working days for the pre-approval.


With budget and the pre-approval letter on place, you may proceed to find the perfect home. However, some people find the desired property prior to applying for a mortgage. It can work, but then you may not be able to secure the full amount of home finance you need to purchase the property. Pre-approval letters are generally valid for 60 to 90 days, depending on the lender. This gives you enough time to find for the property that suits your purchase.


So, once you find your desired the property, you can proceed to finalise the loan agreement. The bank may assign a property evaluator for the property valuation and get you a good offer on it. 

Once the MOU (Memorandum of Understanding) is signed with agreed sales price, you can pay your deposit and decide on a completion date for the purchase transaction. The bank would release your loan amount to the seller on the day of property transfer. And you can become the owner of the property.

It usually takes around two weeks (around 10 working days) to obtain the final offer mortgage letter. This includes the time it takes to secure a pre-approval on the mortgage application.

Additional Information:

When it comes to residential property investment, Dubai has one of the most generous laws for taxation across the globe. The tax rate mainly depends on whether you want to purchase property through the means of a real estate developer. Or whether you require a mode of mortgage financing. Below is a usual cost you may be charged to buy property in Dubai.

Fee or TaxRate in AED
Land Registry Tax4% of Property Value Plus AED 540
Registration Charges for Properties up to AED 500,000 in Value2,000
Registration Charges for Properties Above AED 500,000 in Value4,000
Estate Agent Fees (Secondary Properties)Around 2% of Property Value
Valuation Fees2,500-3,500
Oqood Contract Fee (if purchasing through a developer)4% of Property Value
Conveyance Fees6,000-10,000
Property taxesAs applicable
(reference: Bayut)

You can also go through the rules of foreign property ownership in the UAE on Dubai Land Department website if you are an expat or non-resident willing to buy a property in Dubai.

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