Mortgage
Your Pathway to Owning Property in Dubai
Mortgage Solutions with Executive Realty
Dubai’s real estate market offers endless opportunities, and securing a mortgage can be a key step in making your property dreams a reality. At Executive Realty, we’re dedicated to helping you navigate the financing process smoothly, whether you’re a resident or non-resident looking to purchase a home, vacation property, or investment.
Understanding Mortgages in Dubai
A mortgage in Dubai offers a straightforward way to own property in one of the world’s most attractive cities. Our guide will provide the essential information you need to get started
Who Can Buy Property in Dubai?
Dubai welcomes both residents and non-residents to invest in its flourishing real estate market. If you’re an expatriate, Emirati citizen, or international investor, obtaining a home loan can make the process easier and more affordable.
For UAE residents, the criteria are generally straightforward: you need to be between 21 and 65 years old, with a minimum monthly salary requirement ranging from AED 10,000 to 15,000 for employees, and AED 25,000 for self-employed individuals. Each lender may have slightly different eligibility requirements, so it’s important to review these before applying.
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Required Documents for UAE Residents
Valid Passport
Emirates ID and Residency Visa
Salary certificate (for the last six months)
Bank statements (six months)
Proof of residence (DEWA bill or Ejari contract)
Required Documents for UAE Nationals
Valid Emirates ID
Salary certificate (six months)
Bank statements (six months)
Proof of residence (DEWA bill or Ejari contract)
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Loan Amounts and Down Payments
For first-time expatriate buyers in Dubai, mortgage options are available for up to 80% of the property value, provided the property is valued under AED 5 million. For UAE nationals, this percentage increases to 85%. However, if the property exceeds AED 5 million, expats can borrow up to 65%, while UAE nationals can access up to 70%.
Down payments vary based on the property value and residency status. For properties under AED 5 million, UAE residents are typically required to put down 20%, while UAE nationals need 15%. If the property value is over AED 5 million, down payments increase to 35% for residents and 30% for nationals.
The Mortgage Process in Dubai
1. Consult with a Lender or Broker
Start by either visiting a bank directly or consulting a mortgage broker to find a loan package that suits your needs. You’ll need to submit the required documentation for review.
2. Mortgage Pre-Approval
Once your documents are submitted, your lender will issue a pre-approval letter, confirming your loan eligibility and maximum borrowing amount. This typically takes 3-5 business days and is valid for 60-90 days.
3. Choose a Property and Finalize the Loan
After selecting your property, you’ll need to pay the down payment and agree on a repayment plan with your lender.
4. Property Transfer and Loan Disbursement
On the day of the property transfer, the bank releases the loan funds to the seller. The Dubai Land Department (DLD) updates the property records, and the title deed is issued in your name, making you the official owner.
At Executive Realty, we understand that financing your property is a crucial step in your journey to homeownership. Whether you’re a first-time buyer or a seasoned investor, our team is here to assist you in navigating the mortgage landscape, ensuring a seamless and informed process from start to finish.
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