Many buyers in Dubai use a bank mortgage. Here are the basics so you know what to expect. Every bank has its own rules, so always confirm with your lender.
How much can you borrow?
UAE banks follow Central Bank limits on how much they lend against a home's value (the loan-to-value, or LTV). As a guide:
Banks also look at your income, existing debts and age when deciding how much to lend.
Costs to budget for
On top of the down payment:
Plan with our free [mortgage calculator](/tools/mortgage) and [upfront payment calculator](/tools/upfront-payment-calculator).
Step by step
1. Pre-approval — the bank checks your income and gives an in-principle approval, so you know your budget
2. Find the property — browse [properties for sale](/buy)
3. Sign the MOU (Form F) with the seller and pay the agreed deposit
4. Valuation — the bank values the property; the loan is based on the lower of price and valuation
5. Final offer — the bank issues the final loan offer
6. Transfer — at a Registration Trustee office, the bank pays the seller (and clears any seller mortgage) and your title deed is issued with the mortgage registered
Documents banks usually ask for
Fixed or variable rate?
A fixed rate stays the same for a set period; a variable rate moves with the market. Ask your bank about early repayment fees and what happens when a fixed period ends.
Read [buying property in Dubai as a foreigner](/blog/buying-property-dubai-guide-foreigners) for the full buying process, or contact us on +971 4 835 8084.