Can foreigners get a mortgage in Dubai?

Yes, foreigners can obtain mortgages from UAE banks to finance property purchases.

Loan-to-Value (LTV) Ratios

For properties under AED 5 million:

• UAE Nationals: Up to 80% LTV
• Expat Residents: Up to 75% LTV
• Non-Residents: Up to 60% LTV

For properties over AED 5 million:

• UAE Nationals: Up to 70% LTV
• Expats: Up to 65% LTV
• Non-Residents: Up to 50% LTV

Eligibility Requirements

• Minimum age: 21 years
• Maximum age at loan maturity: 65-70 years
• Minimum monthly income: AED 15,000-25,000
• Employment: Stable job with reputable company
• Good credit history

Required Documents

• Valid passport and UAE visa
• Emirates ID (for residents)
• Salary certificates and bank statements (6 months)
• Employment contract
• Property documents

Interest Rates

• Fixed rates: 3.5% - 5.5% per annum
• Variable rates: 3% - 5% per annum
• Rates vary by bank and borrower profile

Loan Tenure

• Standard: 15-25 years
• Maximum: Up to 25 years

Additional Costs

• Mortgage registration fee: 0.25% of loan amount
• Processing fees: 1% of loan amount
• Valuation fees: AED 2,500 - 3,500
• Life insurance: Required by most banks

Top Banks Offering Mortgages

• Emirates NBD
• Dubai Islamic Bank
• Mashreq Bank
• Abu Dhabi Commercial Bank (ADCB)
• HSBC UAE