For many people around the world, Dubai has become a place to call home. With its vibrant lifestyle, world-class infrastructure, and tax-free income, the UAE continues to attract professionals, investors, and families looking to build a future in one of the world’s most dynamic cities.
But before you collect the keys to your dream apartment overlooking the Marina or a villa in the leafy suburbs of Dubai Hills, there’s one essential step to get right: your mortgage.
At ASICO, we specialise in helping clients from every corner of the globe navigate the UAE mortgage process smoothly, from the first inquiry to the final approval.
Understanding How Mortgages Work in the UAE
A UAE mortgage works much like those in other parts of the world, but the rules and requirements vary depending on your residency status, income, and nationality.
Most banks will finance between 70% and 80% of a property’s value for expatriates, while UAE nationals may access up to 85%. Mortgages are typically available with either fixed or variable interest rates. Fixed-rate options lock in your rate for a set period (usually one to five years), while variable rates move with the EIBOR, the Emirates Interbank Offered Rate.
The right choice depends on your long-term plans, financial comfort, and whether you’re buying for personal use or investment.
Step One: Know Your Eligibility
Lenders will assess your ability to repay based on your income, employment history, and existing debts. Here’s what you’ll generally need:
- A valid UAE residence visa and Emirates ID (or, for non-residents, a valid passport)
- Proof of stable income: typically, a minimum monthly salary of AED 15,000–25,000, depending on the bank
- Six months of recent bank statements
- A clean credit history
If you’re employed abroad but plan to purchase in Dubai, some banks may consider your overseas income, though local earnings usually strengthen your application.
Step Two: Prepare Your Deposit and Fees
Expatriate buyers are usually required to contribute a 20–25% deposit towards the property price. In addition, expect the following costs:
- Dubai Land Department fee: 4% of the property value
- Mortgage registration: 0.25% of the loan amount
- Valuation and processing fees: AED 2,500–5,000
- Agency fees (normally 2%)
Having these funds ready ensures your mortgage approval and property transfer proceed without any delay.
Step Three: Compare Lenders and Rate
The UAE banking landscape is highly competitive. Different lenders cater to different buyer profiles; some offer flexible solutions for first-time buyers, while others focus on seasoned investors.
Whether you’re self-employed, salaried, or purchasing through a company, we can help point you in the right direction.
Step Four: Secure Pre-Approval
A mortgage pre-approval gives you clarity and confidence before you start viewing properties. It’s a letter from the bank confirming how much they’re prepared to lend, valid for around 60–90 days.
Having pre-approval in hand means sellers and developers take you seriously, and you can focus on properties within your approved budget.
Step Five: Finalise and Move In
Once you’ve chosen your property and signed the sales agreement, your lender will arrange a valuation, issue final approval, and disburse the loan upon transfer. The entire process can take anywhere from two to six weeks, depending on the bank and the nature of the property.
And then comes the best part, stepping through the door of your new home in Dubai, a city that perfectly blends opportunity, innovation, and lifestyle.
Why Choose ASICO?
At ASICO, we do more than just secure mortgages: we create pathways to home ownership. Our multilingual, globally minded team understands the unique challenges faced by international buyers, from currency conversions and overseas income verification to legal requirements in Dubai.
We act as your trusted intermediary, ensuring that every stage, from pre-approval to property transfer, is handled efficiently and transparently. With our network of partner banks and in-depth local expertise, we help clients secure the best possible rates and a stress-free experience.
Ready to Begin Your UAE Homeownership Journey?
Whether you’re relocating for work, investing in property, or planning your dream retirement in the sun, Dubai offers unmatched possibilities, and ASICO is here to make your mortgage journey effortless.
Get in touch with us today at info@asico.ae or call +971 600 527 426 to speak with one of our mortgage specialists. Let’s help you turn your Dubai dream into a lasting address.
About ASICO
ASICO is a full-service real estate developer and design consultancy based in Dubai. The firm specializes in architectural design, project development, and master planning, delivering innovative and sustainable solutions across the UAE’s evolving real estate landscape.
For media enquiries, please contact:
Sarah Alexandra Morris
PR Manager
communication@asico.ae
