What are the key considerations when looking to buy property in Dubai? Well, one thing is for sure: it is no longer a far-fetched dream that previously seemed impossible. Generally, there are two ways to buy a property with cash or on mortgage, but which of the two options is better?
A cash investment gives freedom, while a mortgage allows flexibility. It’s no wonder a Dubai real estate broker might propose the mortgage route for its flexibility and advantages.
If you have also been searching for options and information on “mortgage in Dubai” or “home loan in Dubai,” do not leave this page. To help you avoid stress and be prepared before finalizing a property, we have shortlisted a few top mortgage providers in Dubai. Let’s explore this topic here:
Choose the right mortgage type
It all started with choosing the right mortgage type for you – seeing your:
- Financial obligations
- The cash deposit you can manage initially
- The loan amount you need
Various mortgages are available to buy property in Dubai, including fixed-rate and variable-rate mortgages. Several banks, financial institutions, and mortgage lenders offer online calculators to help you determine your monthly payments.
List of top mortgage providers in Dubai
A real estate broker in Dubai already has sufficient knowledge to help you secure the best mortgage options. However, you must also do your own research. Let’s have a look at a few of the best mortgage providers in Dubai:
| Bank | Interest Rate | Maximum Loan Tenure |
| FAB Home Loan | Fixed Rate: 3.99%
Variable Rate: Interest rates start at 0.55% + 3 months EIBOR in – first year and 1.5% + 3 months EIBOR from the second year onwards |
25 years |
| Standard Chartered Saadiq Home Finance | Fixed Rate: 1.66%
Variable Rate: 2.99% |
25 years |
| Emirates NBD Bank Home Loan | Fixed Rate: 3.04% Variable Rate: 5.75% |
25 years |
| Mashreq Bank Home Loan | Fixed Rate: 2.99% | 25 years |
| ADCB Standard Mortgage Loan | Fixed Rate: 2.75%
Reducing Rate: 3.99% |
25 years |
1. First Abu Dhabi Bank home loan – FAB
FAB offers several types of home financing options to help you buy a property in Dubai, according to your preferences:
Home Loan for residents
- First-year interest rate reduction from 0.49% – variable EIBOR
- 1% fee for an early settlement, for a maximum of AED 10,000
- 1% fee for procession
- Minimum Salary: AED 15,000 for employees and AED 25,000 for business owners
- Maximum Loan Amount is AED 20,000,000 (15% down payment)
- Tenure: Up to 25 years
2. Standard Chartered Bank mortgage loan
Saadiq Home Finance of Standard Chartered Bank in the UAE is considered one of the best mortgage options.
Saadiq Home Finance
- Flat Rate is 1.66%, and Reducing Rate is 2.99%
- 05% fee for early settlement on the loan amount (maximum AED 10,050)
- 2625% processing charges with blanket property evaluation
- Minimum Salary: AED 15,000
- Maximum Loan Amount: AED 18,000,000 (20% down payment)
- Maximum Tenure: 25 years
3. Emirates NBD Bank home loan
Emirates NBD Bank offers two types of home loan options for the UAE nationals and the UAE expatriates. Let’s have a look at mortgage options for expatriates:
Home loan for UAE expatriates
- Fixed Rate: 3.04%, Reducing Rate: 5.75%
- 1% early settlement fee
- 1% processing fee
- Minimum Salary: AED 20,000
- Maximum Loan Amount: AED 3,000,000 with 25% down payment
- Maximum Tenure: 25 years
4. Mashreq Bank Home Loan
Mashreq Bank offers various attractive home loan options to help you embark on the journey of home ownership in the UAE.
Home loan for expatriates
- Fixed Rate: 2.99%
- An LTV of 50%
- 1% early settlement fee
- 1% processing fee
- Minimum Salary: AED 15,000
- Maximum Loan Amount: AED 1,000,000
- Maximum Tenure: 25 years
5. ADCB Standard Mortgage Loan
If you’re considering a mortgage loan to buy a property in Dubai, check out one of the top mortgage loan providers.
ADCB Standard mortgage loan for residents
- Fixed Rate: 2.75%
- Early settlement is available against a meager fee
- 1% processing fee
- Minimum Salary: AED 15,000
- Maximum Loan Amount: AED 1,000,000
- Maximum Tenure: 25 years
Documents required to obtain a home loan in Dubai
A mortgage application in Dubai requires the following documents, though the requirements vary from bank to bank.
- A copy of your visa and passport
- A copy of your Emirates ID
- A salary certificate or proof of employment
- Proof of residence (copy of tenancy contract or DEWA bill)
- Bank statements for the past six months’ salary transfer
- The latest statements of your credit cards
Once you fulfill all these requirements, obtaining the final mortgage letter takes around two weeks.
