FAQ
Both UAE nationals and expatriates can apply for a mortgage in the UAE. Eligibility typically depends on factors such as age, income, employment status, and credit history. Most banks require applicants to be at least 21 years old and have a minimum monthly income (varies by bank and whether you're salaried or self-employed).
The amount you can borrow depends on your income, existing financial commitments, and the value of the property. Generally, expatriates can borrow up to 80% of the property value for their first home, while UAE nationals may qualify for up to 85%. A mortgage consultant can help assess your affordability and guide you to the right lender.
Typical documents include a copy of your passport, visa, Emirates ID, salary certificate (or trade license for self-employed), bank statements (usually 6 months), proof of address, and property-related documents. Requirements may vary slightly depending on the bank and applicant profile.
On average, initial mortgage pre-approval can take 3 to 5 working days, while full mortgage approval (including property valuation and final paperwork) can take between 2 to 4 weeks. Working with a mortgage consultant can significantly speed up the process and help avoid common delays.
