Best Home Loans for Residents in the UAE

The required deposit for a mortgage in Dubai is usually capped at 15% of the value of the property for UAE nationals. On the other hand, expats may have a higher minimum deposit requirement of 20%. For properties which are valued at AED 5 million or more, the deposit requirement can increase to 25% for UAE nationals and 30% for expats. To purchase a second unit with a home loan this deposit requirement increases to 35% for UAE nationals and 40% for expats.

In Dubai, the current mortgage rates generally start from 3.89%. These rates can change depending on the mortgage product (fixed or variable), the lender, and the borrower’s financial profile.

Although the minimum salary to get a mortgage in Dubai is AED 10,000 for UAE nationals and expats, most banks require a minimum salary of AED 15,000. Final approval depends on factors like credit score, debt-to-income ratio, and bank policies.

Yes, non-residents can avail financing options in the UAE. Eligibility depends on credit history, income proof, and age limits. While terms may be stricter, banks in Dubai and Abu Dhabi offer competitive financing options.

Residents must provide passport, visa, Emirates ID, address proof, salary certificate, payslips, and bank statements. Non-residents must provide income proof, identity documents, and verified credit history from their home country.

Pre-approval usually takes up to five business days for UAE residents and up to 15 business days for non-residents or self-employed applicants.

Yes, handover payments can often be financed through a mortgage, subject to eligibility criteria and property approval by the lender.