Yes, you can get a pre-approved mortgage in Dubai, whether you are a resident or non-resident. A pre-approval helps you understand the loan amount you are eligible for and gives you a clear picture of your budget before committing to a property purchase.

Pre-Approval for Residents:

Dubai residents can get pre-approved for mortgages with interest rates ranging from 2.49% to 3.25% for loans up to 25 years, depending on the lender and the loan structure. Banks like Emirates NBD and Mashreq offer competitive rates for residents.

Pre-Approval for Non-Residents:

Non-residents can also obtain a mortgage, but the rates are typically higher, often starting at 3% to 5%, and require a larger down payment. Non-residents generally need to provide more financial documentation and are limited to purchasing properties in designated freehold areas. Popular banks like Mashreq and First Abu Dhabi Bank offer non-resident mortgage services, with a loan tenure of up to 25 years for properties.

Mortgage Terms in 2024:

For residents, mortgage terms typically last between 15 to 25 years, while non-residents might be limited to shorter terms, with higher down payments. For both categories, banks like HSBC and Dubai Islamic Bank provide various options, with rates starting at 2.39% for fixed-rate mortgages​

Pre-approvals give a better chance of negotiating and ensuring a smooth property purchase process. Make sure to gather the necessary documents, including proof of income and identification, and consult with multiple banks to find the best rates.