How much can I borrow, and how do I get pre-approved for a mortgage in Dubai?

While resident expatriates can generally borrow between 70% and 80%, non-residents can generally borrow 60% to 70%. It all depends on the lender, and the project they are lending on.

To get a pre-approved mortgage in Dubai, you need to apply through a local bank or mortgage broker. Pre-approval is a preliminary assessment that confirms how much you are eligible to borrow based on your financial profile. It is typically valid for 60 to 90 days and helps you understand your budget before property hunting.

Steps to Get Pre-Approved for a Mortgage in Dubai:

1. Choose a Lender or Mortgage Broker
   Start by comparing banks or working with a licensed mortgage broker who can help you find the most suitable option based on your profile.

2. Submit Required Documents
   Common documents include:

   • Passport copy

   • Emirates ID (if applicable)

   • Residency visa (for residents)

   • Salary certificate or proof of income

   • Bank statements (usually 6 months)

   • Credit report (optional but helpful)

3. Meet Eligibility Criteria
   Most lenders require:

   • A stable income

   • A minimum monthly salary (typically AED 15,000 for residents)

   • A good credit history

   • Age between 21 and 65

4. Receive Pre-Approval Letter
   Once approved, the lender will issue a pre-approval letter stating the maximum loan amount you are eligible for. This helps you make informed property decisions and signals credibility to sellers.

Note: Pre-approval is not a guarantee of final approval. Once you select a property, the bank will perform a property valuation and finalize the mortgage based on that asset.