How to get a mortgage in Dubai if you're an expat

Getting a home loan in Dubai when you are not form there can feel a bit scary at first. A lot of people think only UAE nationals can buy houses with bank loan. That's not true, expats can also get mortgages, but the process is a little bit different.

First thing you need is a valid residence visa. Most banks will not even look at your application if you don't have one. You would also need a stable job or business. Banks want to see that you can pay the monthly amount with no problems. Most banks ask for at least AED 10,000 to AED 15,0000 per month.

Some banks are stricter, some are flexible. That's why it helps to talk to a mortgage broker as they already know which banks are easier for expats.

As an expat you would need to pay a bigger down payment than residents. usually it is 20% or more of the property price.

This whole process usually takes a few weeks if everything is ready. First you would get the pre-approval, then you chose the property, then the bank checks the property, and finally they give the full approval.

A lot of people try to go to banks one by one and it takes forever which also ends up missing up on a better offer. A broker talks to many banks for you and finds the one that gives better rates and easier conditions.

If you're and expat in Dubai and thinking about buying a property then just reach out to us. Sequoia Financing Broker has helped a lot of expats in Dubai get a better deal on their mortgage saving them money and time.