Step-by-Step Guide to Getting a Mortgage in the UAE

Your roadmap to homeownership in one of the world’s most dynamic property markets by BNW Mortgages 

Buying property in the UAE—whether in Dubai, Abu Dhabi, or Sharjah—is a dream for many residents and investors. However, navigating the mortgage process can feel overwhelming, especially for first-time buyers. At BNW Mortgages, we simplify the journey. This guide breaks down every step, from eligibility to closing, so you can approach your home loan journey with clarity and confidence.

Step 1: Assess Your Eligibility

Before diving into listings, check if you qualify for a mortgage in the UAE:

Residency Status:

• UAE nationals: up to 85% financing
• Expatriates: typically up to 80% financing

Minimum Income:

• AED 10,000/month for residents
• AED 25,000/month for non-residents

Employment History:

• At least 6 months with current employer (or 2 years if self-employed)

Age Range:

• Usually between 21 and 65–70 years

Credit Score:

• A strong credit history is essential for approval

Step 2: Gather Required Documents

Having your paperwork ready speeds up the process. Here's what you'll need:

For UAE Residents:

• Emirates ID, visa copy, and passport copy
• Salary certificate and recent pay slips
• Bank statements (last 6 months)

For Non-Residents:

• Passport and national ID
• Overseas bank statements
• Proof of income (salary slips, tax returns, or trade license)
• Credit report from home country

Step 3: Get Pre-Approved

A pre-approval letter strengthens your position with sellers and gives you a clear budget. It’s typically valid for 60–90 days and includes:

• Your borrowing limit
• Estimated interest rate
• Required down payment
• Validity period

Note: Buyers must now pay transfer fees—such as property registration, brokerage, and government registration and transfer fees—from their own funds. These costs are no longer financed by banks.

Step 4: Choose the Right Mortgage Type

There are several options depending on your financial goals:

Step 5: Finalize the Property & Loan

Once you’ve found your dream home:

• Sign the Sale and Purchase Agreement (SPA)
• Get a property valuation (arranged by the lender)
• Submit all documents to the bank
• Wait for final approval and loan disbursement

Step 6: Registration & Handover

After loan approval:

• Pay applicable fees (registration, trustee, insurance)
• Sign the mortgage agreement
• Register the property with the relevant land department
• Receive the keys and move in!

Final Tips for a Smooth Mortgage Journey

• Work with a qualified mortgage consultant to compare rates and terms
• Use an eligibility calculator to estimate your borrowing power
• Keep your debt-to-income ratio below 50%
• Review all terms and conditions carefully before signing

Ready to Start Your Homeownership Journey?

Whether you're a UAE resident or an international investor, securing a mortgage doesn’t have to be daunting. With BNW Mortgages by your side, you’ll have expert guidance on every step—from paperwork to property handover.

Let’s turn your dream home into a reality. Reach out today for a personalized consultation.