Get The Right Mortgage & Home Loan in Dubai

Buying in Dubai with a mortgage? How much you can borrow depends mostly on the bank's rules and on what you earn each month and each year. Some banks in Dubai set a limit of 7 times your annual income (equal to 84 months), and all your loan repayments together may not go above 50% of your monthly salary.

Your age, nationality, type of job and credit record also affect how much you can borrow. A mortgage broker in Dubai is the best person to ask, since they can advise on your own situation.

In the UAE, banks generally want a security check before they lend. It protects the bank if the borrower misses an installment. All UAE banks hold a security check as cover for any kind of credit, mortgages included.

UAE banks normally ask for a security check before approving a loan. It is the guarantee a bank takes when it agrees to lend. If the borrower does not pay an installment on the agreed terms, the lender can take the property by legal process.

In a UAE mortgage application, the bank can take your housing allowance into account. If your employment contract or salary certificate states a housing allowance once you leave company-provided housing, for example, it can improve your affordability and in some cases raise the amount you can borrow.

Bonus income can be taken into account when you apply for a mortgage on Dubai property. Banks are more likely to accept guaranteed bonuses written into your employment contract or salary certificate, though discretionary bonuses can count too. In the end the bank and the kind of bonus you receive decide it.

A No Objection Certificate (NOC) for UAE real estate confirms there are no unpaid financial obligations on the property. When a home or commercial unit changes hands, the seller has to obtain an NOC from the developer of the property.

It confirms that every service charge has been paid. In Dubai, an eNOC is simple to get using Dubai REST, the Real Estate Regulatory Agency (RERA) official app.

Yes, every mortgage in the UAE must come with insurance. The lender will usually ask you to take its own in-house life policy as security for the loan. This mortgage payment protection cover pays your mortgage costs if you lose your job, fall ill or have an accident.

Yes. Foreign investors can borrow up to 50% of the property value, and residents can borrow up to 80% of the land and construction value. The borrower still has to hand in the required documents, have the down payment in place and pass the bank's eligibility checks before applying.

Yes, you can finance off-plan homes in Dubai, though the loan-to-value ratio on off-plan mortgages is capped at 50%.

Yes. Many lenders ask for property insurance to cover the home and their own stake in it. Life insurance may also be advised to cover what is left on the mortgage.

Approval times depend on the lender's procedures, your paperwork and the type of property. On average, approval comes within several weeks to two months.