Yes, expats can apply for a mortgage in Dubai. Most banks in the UAE offer mortgage options to non-UAE nationals, provided they meet specific eligibility criteria such as a stable income, a good credit history, and valid residency status.
Yes, Islamic mortgages are available in the UAE. These are Sharia-compliant financing options based on the concept of Ijarah (leasing) or Murabaha (cost-plus financing), where interest is not charged but instead a profit rate is applied.
For expats, the minimum down payment is typically 20% of the property value for properties priced under AED 5 million. For UAE nationals, the minimum is 15%. Additional costs such as registration fees, valuation fees, and bank charges should also be considered.
While it helps to be employed in the UAE, some banks may offer mortgages to overseas residents with verified foreign income. However, the process can be more complex, and the loan-to-value ratio or interest rates may vary.
You can apply directly to banks, but working with a mortgage broker can simplify the process. Brokers can help you compare options, negotiate better rates, and manage paperwork, saving you time and potentially money.
Mortgage approval typically takes 5 to 7 working days if all required documents are in order. However, complex cases or missing documentation may extend this timeline.
Common documents include:
Passport and visa copy
Emirates ID
Salary certificate or trade license (for self-employed)
Bank statements (last 6 months)
Proof of address (utility bill or tenancy contract)
Property documents (if selected)
Specific requirements may vary by bank.
Yes, early repayment is allowed, but many lenders charge an early settlement fee, typically 1% of the remaining loan balance or a capped amount. It’s best to check the terms with your lender.
Fixed-rate mortgages have a set interest rate for a specific period, offering predictable monthly payments.
Variable-rate mortgages fluctuate with the market (e.g., EIBOR), which can lead to lower or higher payments depending on interest rate movements.
A mortgage pre-approval is a formal letter from the bank stating how much they are willing to lend you. It is highly recommended as it:
Helps you understand your budget
Makes you a serious buyer in the eyes of sellers
Speeds up the buying process
We forward enquiries to licensed UAE mortgage professionals and do not offer financial advice or brokerage directly through this site.