Expat Mortgage in Dubai: Requirements & Process

Can Expats Get a Mortgage in Dubai?

The first question most people ask about expat mortgages in Dubai is whether foreigners are even allowed to apply for property financing. The short answer is yes. However, the process and eligibility criteria for an expat mortgage in Dubai can differ from those available to UAE nationals.

An expat mortgage refers to a home loan available to foreign residents living in the UAE who want to purchase property in Dubai. These mortgages are distinct from non-resident mortgages (which apply to buyers living outside the UAE) and mortgage products designed specifically for UAE nationals.

Expat mortgage options may be slightly more limited compared to those available for UAE nationals. However, several banks in Dubai offer mortgage solutions for expat residents, including:

• First Abu Dhabi Bank (FAB)

• Emirates NBD

• Mashreq Bank

• HSBC

• Commercial Bank Of Dubai (CBD)

• RAK Bank

Typically, expats must make a mortgage down payment of at least 20% of the property price, depending on the purchase value and the bank’s policies. Additional paperwork is also required to verify financial stability and eligibility.

Mortgage Options for Expats in Dubai

There are generally two primary types of expat mortgages in Dubai, fixed rate and variable rate. Understanding them will help you make an informed decision about the right financing option for your needs.

Fixed-Rate Mortgage

A fixed-rate mortgage locks in an interest rate for a set period, ensuring predictable monthly payments. This option is ideal for buyers who prefer financial stability and want to avoid fluctuations in market interest rates. Fixed-rate mortgages are also a popular choice for expats purchasing off-plan properties in Dubai.

Variable-Rate Mortgage

A variable-rate mortgage, on the other hand, has an interest rate that fluctuates based on market conditions, particularly the Emirates Interbank Offered Rate (EIBOR). While this option can offer savings when rates decrease, it also comes with the risk of higher payments if interest rates rise. This is best suited for financially flexible buyers who can manage potential fluctuations in their mortgage payments.

Offset Mortgage

An offset mortgage links your savings account to your mortgage, reducing the interest charged by offsetting the loan balance with the funds in your linked account. However, this option is only available through a limited number of banks in the UAE and may come with additional eligibility requirements.

Remortgaging

Remortgaging refers to switching your existing mortgage to a new lender, typically to secure a better interest rate or improved terms. While not a mortgage type in itself, it is a valuable strategy for expats looking to optimise their home loan over time.

Benefits of Getting a Mortgage as an Expat in Dubai

Opting for an expat mortgage in Dubai comes with several benefits, including:

• Competitive interest rates: Banks in the UAE offer relatively competitive mortgage rates, making property ownership more accessible to expat residents.

• Flexibility: Expats can choose between different mortgage types, allowing them to select a financing plan that aligns with their financial goals.

• Extended repayment terms: Mortgage loan tenures typically range from 5 to 25 years, providing borrowers with manageable repayment plans.

• Access to premium real estate: Dubai is home to world-class communities and developments. An expat mortgage provides a structured pathway to property ownership.

• Rental income potential: Many expats purchase property as an investment, leveraging Dubai’s strong rental market to generate passive income.

Eligibility Criteria for Expat Mortgages in Dubai

To qualify for an expat mortgage in Dubai, applicants must meet specific criteria, including:

• A clean credit history to demonstrate financial responsibility

• Stable employment with a reputable company – typically for at least three months, unless transferring internationally within the same organisation

• Self-employed applicants must provide proof of company ownership and demonstrate a healthy business turnover

• Responsible use of credit cards and timely bill payments to maintain a strong credit profile

Required documents for an expat mortgage application typically include:

• Emirates ID

• Valid passport

• Employment contract

• Proof of address

• Salary certificate (for employees)

• Bank statements for the past 3-6 months

Conclusion: Start Your Expat Mortgage Journey with Confidence

Understanding how to secure an expat mortgage in Dubai is essential for residents looking to invest in the city’s thriving real estate market. Whether you’re an expat resident purchasing your first home or planning a long-term investment, the right mortgage solution is key to making the most of your property journey.

At Engel & Völkers Dubai, we specialise in helping UAE residents navigate the mortgage process with confidence. Our independent mortgage advisors provide tailored guidance, access to competitive expat mortgage rates, and full support from application to approval.

Let us help you find the right expat mortgage and take the next step toward property ownership in Dubai.