Guide: Mortgage in Dubai

How to Get a Mortgage in Dubai: Residents and Non-residents

In Dubai, you can apply for a mortgage to purchase ready property or to close the final tranche on a payment plan.

Mortgage terms vary depending on whether the applicant has the status of a resident of the UAE.

Residents

It is easier to get a mortgage for an employee than for a self-employed or a business owner

Processing Time: from 1 month

Interest Rates

Fixed: from 3.94% for 2 years

Floating: from 0.55% + 3-month EIBOR

Down Payment

20%. Financing volume – up to 80%

Maximum Mortgage Term

25 years, until reaching retirement age

For employees: 65 years

For self-employed: 70 years

Minimum Work Experience

For employees: 6 months

For self-employed: 2 years of running a business under a trade license

Minimum Income

For employees: $2,700 per month. Most banks consider salaries starting at $4,000

For self-employed: an average daily balance of at least $7,000 on a personal account over 3–6 months

Important

Every debt in the UAE is taken into account. If a personal loan has been taken within 6 months, the application may be rejected

Non-residents

The process is more complex, and the terms are less favourable.

Processing Time: from 2 months

Interest Rates

Fixed: from 5.49% for 3 years

Floating: from 1.35% + 3-month EIBOR

Down Payment

From 40%. Financing volume – up to 60%

Banks

Most successful cases with residents take place in CBD. The loan amount can exceed $2,700,000

Minimum Income

An average daily balance of $7,000–$14,000 on a personal account within 3–6 months

Important

Non-residents undergo Compliance Approval to confirm they are not involved in illegal activities