How to get mortgage loans in Dubai

  • Post author:

Financial institutions, mostly banks, lend money to a person as a loan to use to buy property. It is one of the most common types of loans used by borrowers. Depending on the type of mortgage loan you take, you are obliged to pay the interest and processing fees along with the principal amount at a fixed time limit.

Talking about the commercial city, Dubai, there are hundreds of private and government financial institutions that offer mortgage loans at low-interest rates.

To take a mortgage loan in Dubai one has to meet the basic criteria. Banks or financial institutions examine individual repayment capacity through various documents. In fact, the process for obtaining a mortgage loan for a property in Dubai is flexible as the structure has been greatly simplified by banks, financial institutions and regulating authorities.

Step1:- Get pre approved loan on the portal of taskmaster
Step2:- Choose the kind of mortgage loan suits you (Don’t worry our financial expert will help you)
Step3:- Choose the Banker or lender
Step4:- Fill in the application form of the chosen lender
Step5:- Bank verifies the document and checks your repayment capacity (We convince them)
Step6:- Pay the lender processing fee
Step7:- Submit original document of property to bank
Step8:- Loan disbursed

Basic criteria to get a Mortgage Loan in Dubai

  • The borrower must have spent a minimum of 6 months in Dubai
  • For a salaried person, he must have worked in an organization for at least 6 months in Dubai (organization must be listed in the database of lenders)
  • For a business person, one must be in business for a minimum of 3 years in Dubai
  • Good Credit History
  • Basic Documents needs to be submitted

  • Proof of Personal Identification ( Passport etc)
  • Proof of legal residence in Dubai (Visa etc)
  • Proof of income, credit, return etc ( Bank statement, Salary slip, return, etc)
  • Other documents as per the lenders norms (Property documents etc)
  • Faq

    What is the interest rate on a mortgage loan in Dubai?
    Anywhere between 2.99 -4%*

    What is the minimum salary requirement?
    10000 AED-50000 AED*

    What is the maximum Loan amount one can get?
    AED 50,000,000*

    Note: These are tentative values, for exact value talk to our financial expert.