A guide to the documents needed to apply for a mortgage loan in the UAE as a UAE national, resident, and non-resident.

Introduction

Applying for a mortgage loan anywhere in the world can be a daunting task, even more so when it comes to collecting and submitting required documentation to banks or lenders. These financial institutions can often have very different demands regarding documentation and how it’s handled making the process even more complicated. All this can prolong the application and approval process and cost you time, money, and a potential investment opportunity. UAE banks and mortgage loans are regulated by the Emirati government and most aspects of the process are well organized, but it is still better to know what to expect and prepare required documentation in advance in order to shorten the process as much as possible and get your financing sooner. In the following sections, you will find lists of eligibility conditions and documentation requirements focusing on UAE nationals, expats and non-residents individually. These should help you better understand and prepare for the process even before you start filling out applications.

Requirements for UAE nationals

There are some general eligibility conditions regarding mortgages in the UAE that nationals need to fulfill when considering applying for a loan. Below is a list of the most common requirements from major banks in the UAE.

Eligibility conditions - nationals

Employment
  • Salaried employees - at least 6 months in their current job
  • Self-employed - running their business for at least 2 years
Credit history
  • Good credit history is necessary
Income
  • Minimum monthly income considered by many banks starts from AED 15,000 (AED 25,000 salary or AED 3,000,000 annual turnover for self-employed)
  • Maximum 50% of income dedicated to repayment
Employment sector
  • Some banks only offer loans to employees from well-established institutions or government departments
Down payment
  • Starting from 20% (15% with national Islamic funding options)
Loan term
  • Up to 25 years
Age range
  • Between 21 and 70 years old

In addition to eligibility criteria there are documents that each bank requires in order to process a loan. Banks need these documents in order to verify a borrower’s identity, residency, employment status, and financial situation. This helps them determine whether the client is trustworthy and capable of repaying a loan. There are different requirements for pre-approval and final approval. Below are the lists of required documents for the 2 stages in the mortgage process.

Pre-approval documentation - nationals

Personal ID:
  • Passport 
  • Emirates ID
Financial documents: 
Salaried employees Self-employed
Latest salary certificate (30 days old or less) Valid Trade License copy
Last 3-6 months payslips MOA (Memorandum of Association) including all amendments
Proof of previous employment if in current for less than 3 years Audited financials from the last 2 years
Latest credit card statements Company bank statements from the last 6 months
Labor ID (if applicable) Personal bank statements from the last 6 months

Final approval documentation - nationals

In addition to the previous documentation (supplied by the borrower for pre-approval) below is a list of documents required by the banks in order to process a mortgage loan for final approval.
Property documents: 
  • A completed mortgage application
  • A copy of the Title Deed with a floor plan
  • A signed purchase contract (Form F + MOU*)
  • An NOC (non-objection certificate)
  • Copy of valid facility approval**
* Memorandum of Understanding (property purchase conditions)
** For government-funded options, such as: Sheikh Zayed Housing Program (SZHP), Mohammad Bin Rashid Housing Establishment (MBRHE) and Sharjah Housing Program (SHP)

Requirements for UAE expats

UAE expats are still considered residents of the UAE and therefore have eligibility conditions very similar to UAE nationals, with some minor exceptions.

Eligibility conditions - expats

Employment
  • Salaried employees - at least 6 months in their current job
  • Self-employed - running their business for at least 2 years
Credit history
  • Good credit history is necessary
Income
  • Minimum monthly income considered by many banks starts from AED 15,000 (or AED 25,000 salary for self-employed)
  • Maximum 50% of income dedicated to repayment
Employment sector
  • Some banks only offer loans to employees from well-established institutions or government departments
Down payment
  • Starting from 20% (15% with national Islamic funding options)
Loan term
  • Up to 25 years
Age range
  • Between 21 and 65 years old (70 for self-employed)

The documentation required for pre-approval also has some differences compared to the requirements for UAE nationals.

Pre-approval documentation - expats

Personal ID:
  • Passport 
  • Emirates ID
Proof of current address:
  • Residential address proof (DEWA utility bill)
Financial documents: 
Salaried employees Self-employed
Latest salary certificate (30 days old or less) Valid Trade License copy
Last 3-6 months payslips MOA (Memorandum of Association) including all amendments
Proof of previous employment if in current for less than 3 years Audited financials from the last 2 years
Latest credit card statements Company bank statements from the last 6 months
Labor ID (if applicable) Personal bank statements from the last 6 months

Final approval documentation - expats

The final approval documentation is generally identical as it concerns the property and not the borrower.

Property documentation:
  • A completed mortgage application
  • A copy of the Title Deed with a floor plan
  • A signed purchase contract (Form F + MOU*)
  • An NOC (non-objection certificate)
  • Copy of valid facility approval**
* Memorandum of Understanding (property purchase conditions)
** For government-funded options, such as: Sheikh Zayed Housing Program (SZHP), Mohammad Bin Rashid Housing Establishment (MBRHE) and Sharjah Housing Program (SHP)
A nicely dressed man holding a stack of documents and paperwork needed to apply for a mortgage loan.

Requirements for non-residents

Eligibility conditions for non-residents in the UAE are a little different compared to those for nationals and expats.

Eligibility conditions - non-residents

Employment
  • Salaried employees - at least 6 months in their current job
  • Self-employed - running their business for at least 2 years
Credit history
  • Good credit history is necessary
Income
  • Minimum monthly income considered by many banks starts from USD 4,000 (or over USD 816,000 in annual turnover for self-employed)
  • Maximum 50% of income dedicated to repayment
Down payment
  • Starting from 20% (15% with national Islamic funding options)
Loan term
  • Up to 25 years
Age range
  • Between 21 and 65 years

The documentation for pre-approval and final approval also has some differences compared to the requirements for UAE nationals and expats.

Pre-approval documentation - non-residents

Personal ID:
  • Passport (all pages)
  • Local ID
Proof of current address:
  • Overseas residential proof of address (e.g latest utility bill)
Financial documents:
Salaried employees Self-employed
Latest salary certificate (30 days old or less) Document of company establishment
Last 3-6 months payslips MOA (Memorandum of Association) including all amendments
Proof of previous employment if in current for less than 3 years Audited financials from the last 2 years
Liability / Reference letter no more than 45 days old Company bank statements from the last 6 months
Latest tax returns for the previous 2 years or a Credit Report Personal bank statements from the last 6 months
Copy of Chamber of Commerce Registration
Copy of Labor Contract

Final approval documentation - non-residents

The final approval documentation is generally identical with one addition for overseas buyers.

Property documentation:
  • A completed mortgage application
  • A copy of the Title Deed with a floor plan
  • A signed purchase contract (Form F + MOU*)
  • An NOC (non-objection certificate)
  • Copy of valid facility approval**
  • Proof of down payment (Manager’s check)
* Memorandum of Understanding (property purchase conditions)
** For government-funded options, such as: Sheikh Zayed Housing Program (SZHP), Mohammad Bin Rashid Housing Establishment (MBRHE) and Sharjah Housing Program (SHP)

To sum up

Now that you understand the eligibility conditions and documentation requirements a little better you can prepare for the process and hit the ground running once you start. You can find more information about the entire home-buying process here. However, you would still need to visit multiple banks physically and submit the documentation in person or through a PoA (power of attorney). To save yourself time, money, and hassle, you could use a mortgage broker like Kredium to do this for you and speed up the process significantly. We have mortgage experts ready to help you find the best loan option and guide you through the entire process so feel free to contact us any time or register to start an application process.

We specialize in helping UAE nationals, expats, and non-residents alike. If you are looking for a perfect home or investment opportunity, browse our growing portfolio of over 5,000 units in Dubai and let our agents help you find the right property. You should also register or log in to get full access to all floor plans and property prices. Feel free to use our mortgage calculator and estimate your loan installments or calculate the potential rental profit of your future investment.
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