Mortgage

1. A valid passport copy.
2. Proof of income, such as salary slips, tax returns, and bank statements (6-12 months).
3. Employer’s letter confirming your position and salary.
4. Proof of address, such as utility bills.
5. Some lenders may also require a credit report from your home country

• Fixed-Rate Mortgages: Set interest rate for 3-5 years for predictable payments.
• Variable-Rate Mortgages: Interest rates linked to market conditions, offering flexibility.
• Interest-Only Mortgages: Initially pay only interest, ideal for reducing short-term costs

Non-residents can typically borrow between 50% and 75% of the property value. Down payments range from 25% to 35%

• Pre-Approval: Establish your borrowing limit to streamline the property search.
• Property Selection: Focus on freehold properties designated for non-residents.
• Application: Submit required documents to the bank for approval.
• Valuation: The bank assesses the property’s value to ensure it aligns with the loan.
• Ownership Transfer: Complete the transaction through the Dubai Land Department

• Down Payment: 20%-35%, depending on the property type and borrower status.
• Dubai Land Department Fees: 4% of the property value.
• Mortgage Processing Fees: Around 1% of the loan amount.
• Annual Service Fees: Maintenance charges for properties

• High LTV Ratios: Competitive borrowing amounts tailored for non-residents.
• Flexible Terms: Customizable repayment schedules and interest rates.
• Residency Benefits: Investment-linked residency options for properties valued above AED 750,000

Prominent banks like Emirates NBD, HSBC, Mashreq Bank, and Standard Chartered provide specialized mortgage solutions for expats. Consulting a mortgage broker can also help navigate the diverse offerings and find the best deal

• Research property developers and projects.
• Understand currency risks, as fluctuations can affect payments.
• Work with experienced real estate agents and brokers for a smooth transaction.

For more detailed insights, consult guides from ehensive-guide-to-obtaining-mortgages-in-dubai-for-non-residents/), , or other trusted property advisors.

For official and authoritative information regarding buying property and mortgage loans in Dubai, including resources from government entities, you can refer to the following sources:

1. Dubai Land Department (DLD): The DLD is the official government authority responsible for all real estate transactions in Dubai. Their website provides information on buying property, legal requirements, property registration, and fees. It also outlines the process for foreigners and non-residents investing in Dubai real estate.

   • Website: Dubai Land Department

2. Real Estate Regulatory Agency (RERA): A part of the Dubai Land Department, RERA governs the real estate market in Dubai. Their site offers guidelines for both buyers and investors, including details about mortgages, property ownership, and market regulations.

   • Website: RERA

3. Dubai Economic Department (DED): The DED provides detailed information about investment opportunities, business licensing, and other official resources for non-residents seeking to invest in real estate in Dubai.

   • Website: Dubai Economic Department

These sites offer reliable and up-to-date information on real estate policies, mortgage options, and requirements for foreign investors.

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