What is the Minimum Salary For Home Loan In UAE? Check Mortgage Eligibility

Understanding Home Loan Eligibility in the UAE

Before discussing the minimum salary for home loans in the UAE, let's first understand the eligibility system and criteria.

In the UAE, there can be varying criteria depending on whether you are a UAE National, resident, or non-resident. However, the most common requirements to be eligible are:

• Aged between 21 and 65

• Can provide proof of employment using salary certificates or proof of healthy turnover if self-employed

• Meet the minimum salary requirement (discussed later).

• Can provide bank statements, ID and proof of address

In general, UAE Nationals have the most options for home loans in Dubai, with the lowest criteria, whilst the options are most limited, and strictest, for non-resident mortgages.

What is the Minimum Salary Required for a Home Loan in UAE?

In the UAE, the minimum salary required to qualify for a home loan typically starts at AED 10,000 per month.

However, many banks set their minimum salary requirement at a higher level, particularly for expats, often AED 15,000 per month.

Minimum salary for home loan in Dubai vs. other Emirates

Generally, banks across the UAE, whether in Dubai or other emirates, follow similar eligibility criteria and minimum salary requirements for home loans.

Many large banks apply uniform minimum salary thresholds across the country.

Currently, one of the largest banks may offer home loans with a minimum salary requirement of AED 8,000 in specific circumstances.

However, a more realistic benchmark for most banks is a minimum monthly income of AED 10,000 to AED 15,000, depending on your employment type and financial profile.

Minimum Salary Requirements For Banks in the UAE

Let us delve briefly into the minimum salary for home loans according to four major banks in the UAE.

Emirates NBD

Emirates NBD require UAE Nationals to have an income of at last AED 10,000 per month. UAE Residents (expats) must be earning at least AED 15,000 per month and have been employed in the UAE for at least 3 years, with at least 1 year in their current job.

CBD (Commercial Bank of Dubai)

CBD has the following minimum salary requirements for mortgages in Dubai:

• Minimum monthly income of AED 12,000 if salaried - for both UAE Nationals and Expats - with a minimum length of service of 6 months.

• Minimum monthly income of AED 20,000 if self-employed, with a minimum of 3 years in business.

Mashreq Bank

Salaried or self-employed, residents or expats, all must earn a minimum of AED 15,000 per month. 

First Abu Dhabi Bank

Salaried UAE nationals must earn AED 7,000 monthly while expats must earn AED 15,000 monthly.

RAKBank

RAKBank has a minimum salary requirement of AED 15,000 for mortgages in Dubai.

How to Improve Your Mortgage Eligibility in the UAE

Having understood the minimum salary for home loans in the UAE, let’s explore key tips to improve your chances of securing the right home loan in Dubai.

Documents to Apply for a Mortgage Loan in the UAE

While the exact documentation requirements will differ depending on the kind of loan you’ve chosen and the bank you’ve selected, here is a list of common documents required for mortgage loans in the UAE:

• Passport and visa copies

• Emirates ID copy

• Salary certificate as proof of employment

• Payslips and bank statements (last 6 months)

• Credit card statements

• Proof of current address (such as a DEWA bill or tenancy agreement)

• Sales and Purchase Agreement or Title Deed (if applicable)

• For self-employed applicants: Trade license, company bank statements, and audited financials (if required by the bank)

Tips for First-Time Home Buyers in the UAE

Having understood the various aspects of minimum salary for home loans in the UAE, here are some tips for first-time home buyers in the country: 

• Research: Do your due diligence and research the property market to understand key growth areas, current trends and more. Home loan applicants can research the mortgage landscape in the UAE to make informed decisions before buying a home. 

• Location: Many Emirates in the UAE are just beginning to achieve their potential and will soon be highly sought after for commercial, residential and recreational enterprises. Finding the right location may bolster your investment if you lease it for rent or sell it off at a strategic time. 

• Property Check: Never buy a property without seeing it in person. This way, if there are any renovations to be done by the previous owner, you can inform them before signing the contract. 

• Real Estate Agent: While the real estate landscape in the UAE is relatively simple in terms of regulation, it may be confusing to navigate for first-time home buyers. Engaging the services of RERA-accredited real estate agents will make the process a simple and quick one for you. 

• Mortgage Pre-Approval: Get your mortgage pre-approval done before setting out to buy a house in the UAE. This will ensure that you do not have to spend time applying for the pre-approval and risking the chances of someone else securing the house you selected.  

Key Takeaways

Securing a home loan in the UAE is a major step toward homeownership or property investment. While the minimum salary for home loans in the UAE varies by bank and applicant type, most lenders require at least AED 10,000–15,000 per month to qualify.

If you're considering a home loan in Dubai, it’s important to meet the bank's salary and eligibility criteria, maintain a strong credit score, and have a stable income. Understanding factors such as loan tenure, debt-to-income ratio, and down payment requirements can further improve your chances of approval.

To navigate the mortgage process smoothly, ensure you have all the necessary documentation, conduct thorough research, and work with an independent mortgage broker. Additionally, obtaining mortgage pre-approval can strengthen your position when negotiating a property purchase.

Whether you're a first-time homebuyer or an investor, understanding the minimum salary for home loans in Dubai and across the UAE will help you make informed financial decisions and secure the best mortgage terms for your needs.