How Much You Can Borrow?
The amount you can borrow for your home loan will be based on your annual income, your existing debts, your employment status, current interest rates, your personal circumstances and on the value of the property you are buying.
The mortgage amount will ultimately depend on how much you can afford and how much the bank thinks is a reasonable amount to lend you. Before approving your mortgage application, the bank will typically want two years of audited financials from self-employed candidates. The amount of your compensation and the revenue the company makes will be taken into account. How much you can borrow. Non resident mortgage dubai, Best mortgage broker in Dubai The amount that each bank in the UAE will lend to a certain customer is determined by a unique formula. Some will use seven times your yearly salary. Some will spend seventy times your monthly salary. Some will factor in bonuses and commissions when determining your borrowing power. Some people won’t. Some will base their calculations on the current interest rate to see if you qualify, while others will load the rate by 1% to 2% to account for potential future interest rate changes. How much you can borrow Generally speaking, your monthly wage needs to be at least four times greater than your mortgage payment. But from bank to bank, there are differences in the sum you want to borrow and who is eligible. Exceptions may be made in certain cases for deserving candidates and properties. UAE Central Bank regulations stipulate a maximum loan term of 25 years or up to the age of 65 for a salaried individuals or 70 for self-employed. Mortgage loans for non-residents in Dubai, non resident mortgage dubai, how much you can borrow Let’s say you want to borrow
1,000,000 AED for the maximum
25 year-period. How much do you need in monthly salary?
Example:- You are under the age of 40 years.
- Have a steady job and fixed income.
- You have no other loans.
- You choose a fixed repayment rate during the 25 year mortgage loan period (fixed rate = the same sum every month).
- The interest rate is 4%.
- (1) Your monthly salary has to be 11,905 AED. 1,000,000 AED / 12 months / 7 = 11,905 AED.
- (2) Your monthly salary has to be 14,286 AED. 1,000,000 AED / 70 months = 14,286 AED.
- (3) Your monthly salary has to be 13,333 AED. 1,000,000 AED / 25 years / 12 months x 4 = 13,333 AED
- In lowest case your monthly salary needs to be 11,905 AED to borrow 1,000,000 AED.
- In highest case your salary has to be 14,286 AED to borrow 1,000,000 AED.
These factors will decide how much you can
borrow
- Annual income
- Nationality (local or expat)
- Employment status
- Type of employment (employed by a company or self-employed)
- Salary type (fixed or bonus-based)
- Age
- Existing loans and debts
- Personal circumstances
- The property value
- The current bank interest rates
- Personal health
It all depends on what the bank thinks you can afford to borrow and pay back. 
Mortgage Calculator
Best Mortgage broker in dubai
How to get
Approved?
Wondering how it all works? How much you can borrow. Here are few criteria we take into action.
- Down Payment – Your down payment is your first stake in your new home
- Credit Score – The better your score, the more likely you are to get a great interest rate
- Employment History – A steady work history tells us how you well you will be able to meet your mortgage
- Debt Burden Ratio – Ratio helps us determine how much mortgage you can afford
Learn More Down Payment
Employment History
Credit Score
Debt Burden Ratio
Required Documents
To Apply for a mortgage in dubai
Personal Documentation
- Emirates ID, Passport & Visa
Salaried employee:
- Latest salary certificate
- Latest pay slips
- Any additional bank statements from the last 6 months
Self-employed:
- Valid Trade License copy
- MOA (Memorandum of Association) including all amendments
- Bank statements from the last 6 months
- Audited financials from the last 2 years
Identical documentation for co-borrowers (if applicable) Mortgage Rates In The UAE
NON RESIDENT
FIXED FOR 3 YEARS
0
%
Variable 0.95% + 3M EIBOR
0
%
Learn More VARIABLE RATES
Salaried 0.70% + 3M EIBOR
0
%
Self employed 0.70% +3M EIBOR
0
%
Learn More 3 YEARS FIXED
salaried with stl
0
%
Self employed
0
%
Learn More 5 YEARS FIXED
salaried
0
%
Self employed
0
%
Learn More Our Mortgage Services
We will be glad to provide you with the most optimal solution either for your mortgage or money loans matters.
New Purchase
Whether It’s your first or second mortgage we are here to help you to get the best possible rates and conditions and guide you through the whole process of getting the new property. How much you can borrow
Equity Release
Releasing equity from your property can be a good idea to renovate your property or fund another purchase. You can avail up to 70%-80% loan to value of your existing property.
Re-Mortgage
Refinancing your home is simply getting a better mortgage deal to replace the original mortgage. Refinancing is done to allow a borrower get a better rate to save on interest.
Non-Resident Mortgage
Non resident can get up to 65% loan to value for purchasing a property in the UAE. Mortgage loans for non residents in dubai, non resident mortgage dubai
Loans Against Rental Income
The rental income can be used along with other income, such as your salary to increase your borrowing power or else mortgage out of the rental income purely are also available.
Under Construction & Off Plan
Arrange up to 50% loan to value (LTV) for the off plan or under construction property. The LTV can be increased after the handover.
Commercial & Building Finance
We also assist our clients in planning and arranging finance for residential as well as commercial developments.
Construction & Land Financing
When you own a piece of land, you can build a space that is uniquely yours, We help to acquire the land for you so that you can start turning your dream into reality.
We are the best mortgage broker in Dubai-UAE
Need to speak with a member of our team?
Book An Appointment Now 