The Ultimate Guide to Getting a Mortgage for Your Dubai Property

Buying a Dubai property is a big step, whether it’s your first home or an investment. For many buyers, a mortgage is the most practical way to finance the purchase. But here’s the catch: the mortgage process in Dubai comes with its own set of rules, requirements, and timelines. If you don’t know the steps, you risk delays or worse, losing the property you want. 

This guide with GLLIT breaks everything down in simple steps so you can move forward with confidence. From eligibility checks to final approval, here’s how to secure a Dubai mortgage and make the most out of it without the stress.

1. Understand who can apply for a mortgage in Dubai

Not everyone can automatically get a Dubai mortgage, so it’s important to know if you qualify before starting.

• Who’s eligible? UAE residents, non-residents, and expatriates can all apply for a Dubai mortgage, but conditions vary.
• Age limit: Most lenders require you to be between 21 and 65 at the time of the last repayment. The repayment terms for a Dubai mortgage can reach up to 25 years.
• Income requirements: Salaried individuals typically need a minimum monthly income of AED 15,000, while self-employed applicants may need to show business stability.
• Moreover, your monthly income determines how much you can borrow. According to the UAE Central Bank, your debt-burden ratio (DBR) ratio must not exceed 50%, which means banks in Dubai won’t allow your combined loan repayments—mortgage, credit cards, car loans, and others—to exceed half of your monthly income.

Knowing this upfront helps you avoid wasting time with lenders who may not approve your application.

2. Know the down payment rules in 2025

Before applying for a mortgage, understand how much you’ll need to pay up front.

• For expats, the minimum down payment is 20% of the Dubai property price for homes under AED 5 million.
• For UAE nationals, it’s 15% for the same price bracket.
• For properties above AED 5 million, the required down payment can go up to 30% or more.

These percentages don’t include additional costs like the Dubai Land Department (DLD) fee, valuation charges, and bank processing fees, so budget for those too.

3. Check your credit score before anything else

Your credit score can make or break your mortgage approval in Dubai. A high score means better interest rates and faster processing, while a low score can lead to rejection or higher costs.

• What’s a good score? Typically, anything above 700 is considered strong.
• Where to check? You can check your credit score through Al Etihad Credit Bureau (AECB) in the UAE.
• Why it matters: Banks use this score to decide your eligibility and set your interest rate.

If your score is low, consider paying off outstanding debts and avoiding new credit applications before applying.

4. Choose between fixed and variable rates

When financing your Dubai property, you’ll need to pick between two main types of mortgage interest rates:

• Fixed-rate mortgages: Your interest rate stays the same for a set period (usually 1–5 years), making budgeting easier.
• Variable-rate mortgages: The interest rate changes based on the Emirates Interbank Offered Rate (EIBOR), which can go up or down over time.

Many first-time buyers choose fixed rates for predictability, while seasoned investors sometimes go for variable rates to capitalize on market dips.

5. Get a pre-approval before you start house hunting

One of the smartest steps you can take is securing a mortgage pre-approval before you start searching for a Dubai property. 

• What is it? A pre-approval is a letter from your bank stating how much they’re willing to lend you. 
• Why it helps: It sets a clear budget and shows sellers that you’re serious and financially ready. 
• How long does it take? Usually 3–5 working days, and it’s valid for up to 60 days. 

This step saves time and prevents disappointment later in the buying process. 

6. Compare lenders, don’t just pick the first bank 

Mortgage rates and terms can vary significantly across banks in Dubai. Always compare before committing. 

• Key factors to check: Interest rate, processing fee, early settlement penalty, and life insurance requirement. 
• Tip: Use online mortgage calculators to get an estimate, but confirm with the bank directly for the most accurate details.

GLLIT can help connect you with trusted lenders, ensuring you get the most competitive deal without spending hours comparing.

7. Gather your documents early

Missing paperwork is the number one reason mortgage approvals get delayed. Prepare these documents in advance: 

• Passport copy and visa page
• Emirates ID (for residents)
• Salary certificate and last 6 months’ bank statements
• Proof of existing liabilities (like credit cards or loans)
• Property documents for the unit you plan to buy

Having these ready speeds up the process and signals to lenders that you’re an organized, low-risk borrower.

8. Understand all the fees involved

A mortgage isn’t just about the down payment and monthly instalments. Here are some common fees to expect:

• Valuation fee: Around AED 2,500–3,500
• Processing fee: Typically, 0.5%–1% of the loan amount
• Mortgage registration fee: 0.25% of the loan amount (payable to DLD)
• If you decide to repay your mortgage early, you also have to be prepared to cover an early settlement charge that may amount to up to 1% of the outstanding balance.
• Don’t forget insurance: You may be required to take life insurance as part of your mortgage package, which can be part of the loan or arranged separately.

These can add up, so factor them into your total cost when budgeting for your Dubai property.

9. Stay updated on LTV rules

The UAE Central Bank sets loan-to-value (LTV) limits that dictate how much you can borrow compared to the property value: 

• For expats: Maximum 80% LTV for properties under AED 5 million 
• For UAE nationals: Maximum 85% LTV 
• Investment properties often have stricter LTV ratios 

Knowing these rules helps you plan your down payment and financing strategy effectively. 

10. Think long-term with refinancing or remortgage options

You don’t have to get stuck with the same mortgage terms forever. You need to understand how refinancing or remortgaging works and how it can give you more flexibility. The benefits of refinancing or remortgaging include:

• Interest rates may rise and fall, so refinancing/remortgaging helps you take advantage of falling rates to lower your monthly installments
• Adjust your loan tenure: You can shorten or extend the tenure depending on your financial goals.
• You can generate funds for investment, upgrade the property, buy other property, or other purposes 

11. Why work with GLLIT