Financing a home purchase as a non-resident or expat in Dubai is more straightforward than many buyers expect, provided you understand the key requirements upfront.
Down Payment Requirements
UAE Central Bank regulations require expat buyers to put down a minimum of 20-25% for their first property under AED 5 million, and higher for subsequent purchases or higher-value homes. Non-residents typically face slightly higher down payment requirements than UAE residents.
Eligibility
Most banks require proof of income (salary certificate or 6-12 months of bank statements for the self-employed), a minimum salary threshold, and a good credit history. Non-resident applicants can often qualify based on overseas income, subject to bank-specific policies.
Interest Rates and Tenure
Mortgage tenures typically run up to 25 years, with the loan required to be repaid by a maximum borrower age (usually 65-70). Rates are commonly offered as fixed for an initial 1-5 year period before reverting to a variable rate linked to EIBOR.
Additional Costs to Budget For
Beyond the down payment, budget for the 4% Dubai Land Department transfer fee, mortgage registration fee, bank arrangement fee, and property valuation costs — typically an additional 6-7% of the purchase price in total.
Our team works with a panel of banks and mortgage brokers and can help you get pre-approved before you start viewing properties, so you know your budget with certainty.