Can Anyone Get Mortgage in Dubai? A Complete Guide

18 Oct 2023

Dubai is a popular destination for expats and investors worldwide, and many people are interested in buying property in the city. However, there are two main ways to buy property in Dubai: with cash or on a mortgage. However, you should choose the right one for you and your financial situation. 

Mortgages are available in Dubai, but you must meet certain eligibility criteria. As the vibrant heart of the United Arab Emirates (UAE), Dubai boasts a captivating blend of modernity, luxury, and a thriving real estate market.  

Dubai’s real estate market offers many opportunities, but the path to property ownership involves some guidelines and requirements. Can anyone get a mortgage in Dubai? Let’s explore. 

Understanding Mortgages In Dubai 

Dubai’s market is growing at a fast pace and has become an epicenter of property investors, both local and foreign. While Dubai real estate is undeniably attractive, there are some mortgage complexities. Understanding these details is important to make informed decisions on your homeownership journey. 

A mortgage is a financial arrangement that allows you to borrow money to buy the property from a lender, bank, or any financial institution. The property serves as collateral for the loan, providing a sense of security for the lender. 

The process of Mortgage working in Dubai is like that used worldwide. However, some specific laws and regulations shape mortgages in Dubai. For instance, a mortgage with fixed or variable interest rates is up to 25 years. Moreover, the loan amount is subject to a down payment, often a percentage of the property’s purchase price. 

Eligibility Criteria For A Mortgage In Dubai 

To secure a mortgage in Dubai, you must go through eligibility criteria. The criteria can be different among lenders, but there are some common considerations, which are as follows.  

Residency Status 

To get a mortgage, you must be a resident of UAE to qualify in Dubai. Some lenders may offer mortgages to non-residents, but they often have stricter terms. 

Income Requirements 

Lenders assess your income to determine your repayment capacity. You’ll typically need a stable source of income, and your debt-to-income ratio (DTI) should be within acceptable limits. 

Employment Stability 

Lenders often require a minimum period of employment or self-employment in the UAE. You can get a mortgage in Dubai if you have a monthly income of AED 15,000 as a salaried employee and AED 25,000 as a self-employed individual. 

Credit History 

A good credit history is crucial. Lenders will check your credit report to assess your creditworthiness. A positive credit history with no defaults or outstanding debts is favorable. 


The minimum and maximum age requirements can vary, but most lenders prefer borrowers in their earning years. It is typically between 21 and 65. 

Documents And Paperwork Required For Mortgage 

Before applying for a mortgage in Dubai, you must provide some documents. Your documents will help the lender verify your financial standing and eligibility. The most commonly required documents include.  

Valid Passport 

You must provide a copy of your passport with a valid UAE residence visa. 

Emirates ID 

A copy of your Emirates ID card, a mandatory identification card for residents in the UAE. 

Proof of Income 

The documents for proof of income include salary certificates, employment contracts, or business licenses for self-employed individuals. Bank statements may also be required. 

Credit Report 

You need to provide a copy of your credit report to demonstrate your credit history. 

Property Documents 

If you’ve identified a property to purchase, you’ll need property-related documents, including the sale and purchase agreement. 

Bank Statements 

Typically, you’ll need several months of bank statements to verify your financial transactions and stability. 

Liabilities and Debts 

You will have to disclose any existing debts or liabilities, including credit card balances, loans, or other financial obligations. 

How To Get A Mortgage In Dubai  

A mortgage can help you get ownership of your dream property. Here’s how to secure a mortgage in Dubai. 

Find A Reputable Lender 

Securing a mortgage starts with finding a reputable lender in Dubai. Some prominent banks in Dubai that offer mortgages include Emirates NBD, Mashreq Bank, and Dubai Islamic Bank. You should consider interest rates, customer services, loan terms, and the lender’s reputation.  

Choose The Right Mortgage for Your Needs 

There are various mortgages available in Dubai, suitable for different needs. Decide whether you prefer a fixed interest rate for stability or a variable rate that may change with market conditions. After that, choose a loan term that aligns with your financial goals and capacity.  

Lastly, determine the down payment percentage, which often varies based on the property’s value and your eligibility. 

Get Pre-Approved For A Mortgage 

Before starting your property search, getting pre-approved for a mortgage is beneficial. This process involves providing your financial information to the lender for a preliminary assessment. Pre-approval helps you understand your budget and demonstrates your seriousness as a buyer to sellers. 

Find Your Home 

Explore different properties in Dubai in different areas. Determine pros and cons, and finalize a property close to your dream home. Sign a sale agreement outlining the property transaction’s terms and conditions.  

Provide the required documents to your lender for the mortgage application, including property-related paperwork. He will evaluate your application and, upon approval, provide you with a mortgage offer. 

Finalize Your Property Purchase 

This final step includes paying applicable fees, including the down payment, mortgage processing, and property transfer fees. After receiving the fee, the lender registers the Mortgage with the Dubai Land Department. Once the registration is complete, you’ll own the property. 

Who Can Get A Mortgage In Dubai  

Getting a mortgage in Dubai is open to different groups of people, including UAE nationals, expatriate residents, and foreign investors who are not residents of the UAE. The requirements are generally straightforward. 

Here’s a breakdown of who can get a mortgage in Dubai: 

UAE Nationals 

Citizens of the United Arab Emirates can easily secure home loans in Dubai. They need to provide proof of income and an ID card. 

Expat Residents 

Expatriate residents living and working in Dubai can also apply for mortgages. They’ll need to provide a valid ID and proof of their income, which can be from their job or other sources. 

Non-Resident Foreign Investors 

Even if you’re not a resident, you can still get a mortgage to invest in property in Dubai. To apply for a non-resident mortgage, you must be either a salaried individual or self-employed. Some banks may also have age restrictions, requiring applicants to be at least 21. 


Getting a mortgage in Dubai is possible for many people, including UAE nationals, expats, and non-residents. However, certain eligibility criteria must be met, such as having a good credit history and a down payment of at least 15 to 20% of the property value. 

Buying a property in Dubai is a big decision, but getting a mortgage can make it more affordable. If you want a mortgage in Dubai, it is important to research and compare offers from different lenders.