Getting a Mortgage in Dubai as an Expat

Expats can get a mortgage in Dubai. Residents typically borrow up to 80 percent of the property value; non-residents up to 50 or 60 percent. The deposit and the fees have to be cash, because banks lend against the price only.

How much you can borrow

Remember the closing costs sit on top and cannot be borrowed. On a AED 2 million purchase with a 20 percent deposit, you need roughly AED 400,000 deposit plus about AED 130,000 in fees.

What banks look at

• Income: a minimum monthly salary, commonly AED 15,000 to 25,000 depending on the bank.
• Debt burden: total repayments, including car loans and credit cards, must stay within half your income.
• Employment: usually six months with your current employer, longer if self-employed.
• Age: the loan normally has to end by 65 for employees, 70 for the self-employed.

Fixed or variable?

Fixed rates run one to five years, then revert to a variable rate linked to EIBOR. Fixed gives certainty while you settle; variable can be cheaper if rates fall. Whichever you pick, look at what the rate reverts to, not just the headline period.

Costs specific to the mortgage

• Mortgage registration: 0.25 percent of the loan, plus about AED 290.
• Bank arrangement fee: commonly around 1 percent of the loan.
• Valuation: AED 2,500 to 3,500.
• Life insurance: required, priced on age and loan size.

Get pre-approval first

Pre-approval tells you your real budget and makes your offer credible. It usually takes a few days and lasts 60 to 90 days. Viewing before you have it wastes everyone's time and risks falling for something you cannot finance.

Buying without a mortgage

Off-plan payment plans spread the cost across construction without a bank. Buying on installments explains how developer plans compare.

Next steps

Our guide to Dubai Land Department fees covers everything payable at transfer. When you are ready, browse homes for sale or speak to an adviser.