How much is my borrowing limit?
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Your borrowing limit is generally up to 7 times your annual salary, depending on the bank. Existing loans, credit cards, and liabilities may reduce the amount you can borrow.
What are the mortgage rates in the UAE?
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Mortgage rates vary from bank to bank and are based on whether you are salaried or self-employed. Your personal profile will determine the exact rate.
Can non-residents get financing in the UAE?
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Yes, non-residents can apply for property finance. Up to 60% LTV is available, with interest rates starting at 3.89% for a 3-year fixed plan, subject to profiling.
What is the minimum deposit required?
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- Expat (1st-time): 20%
- UAE national (1st-time): 15%
- Expat (2nd-time): 40%
- UAE national (2nd-time): 35%
*Some banks offer lower deposits if the existing mortgage is under 60% LTV.
What documents are required for the application?
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Salaried:
- ID documents
- Salary certificate
- Last 6 months’ payslips and bank statements
- Details of liabilities
Self-employed:
- ID documents
- Company docs (Trade license, MOA, etc.)
- Business bank statements (12 months), personal (6 months)
- Audited financials, company profile, liabilities
How long does pre-approval take?
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Initial feedback comes within 2 working days. Once documents are submitted, pre-approval typically takes 5–7 working days.
