On this page
Mortgage Loans
5 Mins read

Comprehensive Manual on Mortgage Loans for Non-Resident Investors in Dubai

Holo Blog

Dubai's diverse real estate market has attracted the attention of both local and international investors, thanks to its affordable prices and lower interest rates. The "mortgage in Dubai for non-residents" option has made it convenient for individuals living abroad to purchase property in the city without straining their financial resources.

For a comprehensive understanding of who qualifies for non-resident home loans in Dubai and the mechanics of such mortgages, our mortgage frequently asked questions below, provide all the necessary information.

Can non-residents obtain a mortgage in Dubai?

Certainly, overseas investors aiming to expand their real estate portfolio or acquire a vacation home in Dubai can secure a mortgage. Opting for a mortgage in Dubai as a non-resident offers various advantages, including generous loan amounts and enhanced flexibility. Using a mortgage calculator in Dubai will help you understand how much you might be able to borrow.

It's crucial to note that non-resident foreign investors have a more limited array of property loan options compared to UAE citizens and expatriates. Familiarising yourself with the various mortgage types in Dubai is essential before proceeding.

Eligibility criteria for non-resident home loans in Dubai

To qualify for a Dubai mortgage as a non-resident, meeting specific eligibility criteria is a prerequisite. Before initiating an application for a non-resident mortgage in Dubai. It's imperative to ensure eligibility according to the following general guidelines. Please note that these criteria may vary between different banks in the UAE.

You may need to be a citizen of a country listed by the bank before applying for a non-resident home loan in Dubai. Salaried or self-employed individuals are eligible to apply for a non-resident mortgage. Certain banks might impose age restrictions on applicants seeking a non-resident mortgage in Dubai. Meeting the bank's minimum monthly income requirement is essential. This minimum income requirement must be met after tax deductions.

Required documents for non-UAE resident mortgage loans

For non-resident mortgage loan applications, certain documents are mandatory. It's worth noting that additional documentation might be necessary based on the property being purchased and transaction terms. In general, non-resident applicants are expected to provide the following documents for home loans in Dubai:

  • Valid passport (as identity proof)
  • Bank statements (covering the last 3 to 6 months, serving as proof of funds)
  • Salary certificates or payslips (for employed individuals)
  • Trade license and audited financial statements (for self-employed individuals)
  • Details of existing loans

Characteristics of non-resident home loans in Dubai

Banks may finance up to 60% of the property value for non-resident applicants. Different interest rate options are available from UAE banks. Both variable and fixed rate terms are available, as well as conventional and Islamic mortgage products. Expect a slightly higher interest rate compared to residents in Dubai. Speak with a mortgage advisor to understand your options. Holo's mortgage specialists will work with you to understand your borrowing requirements and eligibility to ensure you apply for the product best for you.

Can foreigners acquire a mortgage in Dubai?

Yes, both residents and non-resident investors are eligible to obtain mortgages for financing property purchases in Dubai. However, loan-to-value ratios differ for foreign investors compared to UAE nationals.

Is securing a mortgage in Dubai straightforward?

Securing a mortgage in Dubai can be relatively straightforward if you meet the bank's eligibility criteria. It's advisable to obtain a mortgage pre-approval before embarking on your property search to establish your budget beforehand. Work with a mortgage broker, like Holo, in Dubai to get your pre-approval in place. Unlike other brokers, we're 100% free.

At Holo, our mortgage experts work on your behalf throughout the process and will keep you fully updated on your mortgage application. Our digital mortgage services offer access to 500 mortgage products from the UAE's banks. The best bit? We do not charge any fees at all.

Ready to take the next steps? Let's get you started.

Need help with your property search?
Share this post