Is it Possible to Mortgage a Property in Dubai?
Yes, it is possible to mortgage a property in Dubai. Both residents and non-residents can obtain a mortgage to purchase property in the city. The process typically involves securing a loan from a bank or financial institution, with the property serving as collateral. Lenders in Dubai offer various mortgage products, including fixed-rate and variable-rate loans, with terms generally ranging from 15 to 25 years. The maximum loan-to-value (LTV) ratio is usually 80% for residents, meaning you would need to provide at least a 20% down payment. For non-residents, the required down payment is often higher, around 25-30%.