Mortgage in Dubai (UAE) for Foreigners

Mortgage in Dubai (UAE) for Foreigners is a great way to become a property owner, even if you don’t have the full amount for the purchase. However, mortgage terms differ for residents and non-residents, making it important to understand the nuances for successful approval.

Mortgage Features for Foreigners:
Residents can get a loan up to 80% of the property’s value.
Non-residents can secure a loan for 50% of the property’s value.
The repayment term is up to 25 years.

Bank Requirements for Borrowers:
Age: 21 to 65 years.
High income level – credit obligations should not exceed 50% of monthly income.
Positive credit history – developed within 6 months from the date of obtaining a resident visa.
Proof of legal income.

Mortgage Rates:
Starting rate: from 2.35%.
Maximum loan: 50%-80% of the property value.
Loan term: up to 25 years.

Documents Required:
Copy of the passport.
Copy of resident visa (if available).
Emirates ID.
Documents proving income and financial solvency.
Sales contract.

Mortgage Process:
Choosing a bank and applying. This takes about 2 weeks.
Finding a property and gathering documents. From 2 weeks to 1.5 months.
Signing the sales contract and registering the deal.
Negotiating mortgage terms and signing the bank agreement.
Paying the down payment and insuring the property.

Additional Information:
Foreigners can buy property with a mortgage only in freehold zones.
Purchasing property worth AED 2 million can qualify for a 5-year residency visa.

Obtaining a mortgage in the UAE is a more complex and intricate process than it may initially appear, especially for foreign nationals.

However, we are pleased to inform you that our team includes specialists who can assist you in securing a mortgage on the most favorable terms.

📞 Contact us today for a free consultation with one of our experts!