Are you looking to buy a home in Dubai?
Getting a mortgage or a home loan can help you finance your dream home. Here’s what you need to know about getting a mortgage in Dubai.
Steps to Get a Mortgage in Dubai
To get a mortgage in Dubai, you’ll generally need to follow these steps:
- Decide if you want to use a broker to explore your options for a mortgage.
- Choose a mortgage that suits your needs, and find a qualified local lawyer to help with the transaction.
- Hand over the paperwork requested to get a finance pre-approval, which is sometimes called a mortgage offer in principle. Your bank will give you a letter confirming what they will lend you.
- In Dubai, home mortgages are sourced through banks and must be registered with the Dubai Land Department (DLD) to be legally valid. You can directly approach your bank for their available mortgage deals or hire a broker to work on your behalf to get the best mortgage loan in Dubai.
Mandatory Documents for Getting a Mortgage in Dubai:
The mandatory documents required for getting a mortgage in Dubai include:
- A copy of the valid visa and passport
- A copy of the valid Emirates ID
- A salary certificate for proof of employment
- Proof of residence such as a copy of the tenancy contract or DEWA bill
- Payslips and bank statements for the past six months
Getting a mortgage or a home loan in Dubai can help you finance your dream home. By following the steps mentioned above and gathering the necessary documents, you can start the process today. Remember to consult reputable sources and consider professional advice to ensure a smooth mortgage application process.