Step-by-Step Guide to Getting a Mortgage in Dubai as an Expat (2025)
Buying property in Dubai is an exciting milestone — especially for expats planning to turn the city into a long-term home or investment base. But if you’re unfamiliar with the local banking system or real estate laws, the mortgage process might feel intimidating at first.
At Iris House Properties, we believe in simplifying your homeownership journey. This step-by-step guide breaks down everything you need to know about getting a mortgage in Dubai as an expat — so you can move forward with confidence.
Step 1: Know if You’re Eligible as an Expat Buyer
Yes — expats can buy property in Dubai, and they’re eligible for mortgages from both local and international banks.
To qualify, you usually need:
- A valid UAE residence visa (some banks allow mortgages for non-residents too)
- A minimum monthly income (usually AED 15,000 for salaried individuals)
- A stable job (employed for 6+ months or self-employed for 2+ years)
- A clean credit history and valid Emirates ID
Step 2: Understand the Loan-to-Value (LTV) Ratio
The Loan-to-Value (LTV) ratio determines how much of the property value a bank will finance:
- Up to 80% for first-time expat buyers (properties under AED 5 million)
- 70% or less for second properties or higher-value homes
- This means you’ll need a minimum 20% down payment from your own funds
Step 3: Get Pre-Approval from a Bank
Before house hunting, it’s smart to get mortgage pre-approval. This shows how much the bank is willing to lend and locks in your interest rate for 60–90 days.
To apply for pre-approval, submit:
- Passport & visa copy
- Emirates ID
- Salary certificate or trade license
- Last 6 months’ bank statements
- Proof of address & credit report (if available)
Step 4: Find Your Property & Sign the Sale Agreement
Once you have pre-approval, your agent (like us!) will help you:
- Shortlist properties that fit your budget
- Negotiate terms with the seller or developer
- Sign a Memorandum of Understanding (MOU) or Sales Purchase Agreement (SPA)
Step 5: Final Bank Approval & Property Valuation
The bank will now:
- Conduct a valuation of the property
- Re-confirm your documents
- Issue the final mortgage offer
Step 6: Register with the Dubai Land Department (DLD)
Once the final offer is signed, your property needs to be registered with the Dubai Land Department.
Costs to expect:
- 4% of the property price as DLD transfer fee
- AED 540–580 for registration
- Broker fees (typically 2%)
- Bank arrangement fees (around 1% of loan amount)
Step 7: Transfer & Handover
Finally, the bank will release funds to the seller, the title deed will be issued in your name, and you’ll get the keys to your new home!
Conclusion
Securing a mortgage as an expat in Dubai might seem complex at first — but with the right guidance, it’s a clear and achievable path to homeownership. Understanding the process, preparing the right documents, and working with trusted professionals can make all the difference.
At Iris House Properties, we don’t just help you find the perfect home — we support you through every step of the mortgage and buying journey. From pre-approval to property handover, our experienced team ensures a smooth, transparent, and stress-free experience.
