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What Expats Need to Know About Mortgages in Dubai

Dubai’s property market is accessible to expatriates, but it operates differently from many Western countries. Non-UAE nationals can typically purchase in designated freehold areas, and a mortgage can help make that investment more manageable.

  • Key Points:
  • Eligibility: Expats can apply for mortgages from local and international banks, though criteria vary by lender.
  • Loan-to-Value (LTV): First-time expat buyers may be eligible to borrow up to 80% of the property’s value (for properties under AED 5 million), depending on individual profiles and policies.
  • Down Payment: Buyers are usually required to contribute a minimum of 20%–25% upfront, plus associated fees.
  • Documentation: Proof of income, residency status, and credit history are essential.
  • Residency: Some lenders may require a UAE residence visa, while others offer options for non-residents.

How Much Can I Borrow In The UAE?

The amount you can borrow for a mortgage in the UAE depends on your income, existing financial commitments, and the property’s value.

  • Key Points:
  • Affordability Rule: Your total monthly debt payments (including the new mortgage) typically shouldn’t exceed 50% of your monthly income.
  • Income Type: Salaried and self-employed applicants may be evaluated differently.
  • Loan Tenure: Mortgages in the UAE can span up to 25 years but must be paid off before the borrower reaches age 65–70 (depending on the lender and employment status).
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Documents You Need To Apply For A Mortgage

Applying for a mortgage in Dubai requires various documents to prove identity, income, and legal eligibility.

  • Commonly Requested Documents:
  • Passport and Visa copies
  • Emirates ID (if resident)
  • Proof of income: Salary certificate, recent payslips, or audited business accounts for the self-employed.
  • Bank Statements: Typically 3–6 months’ worth
  • Credit Report: From Al Etihad Credit Bureau (AECB) for UAE residents
  • Property details (once selected): Sale agreement or MOU
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Dubai Property Market Trends

Understanding the current property market can help potential buyers make informed decisions.

  • Key Points:
  • Stable Demand: Dubai continues to attract foreign investors and expats, especially in freehold zones like Dubai Marina, Downtown, and Arabian Ranches.
  • Rental Yields: High rental yields and no property tax make property ownership appealing to many expats.
  • Price Fluctuations: While prices have rebounded since 2020, some areas remain more affordable, offering opportunities for first-time buyers.
  • Off-Plan vs. Ready Properties: Buyers often weigh the benefits of investing in off-plan developments versus completed homes.
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We forward enquiries to licensed UAE mortgage professionals and do not offer financial advice or brokerage directly through this site.

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  • getintouch@mortgagesindubai.com