Mortgage Calculator

Your loan amount generally depends on the bank. However, you can take an estimate of 7 times your annual salary. This can change in case of already existing loans, credit cards and/or other liabilities.

Depending on if you’re salaried or self-employed, and also basis your credit history, the rate applicable for your mortgage can differ from person to person.

Non-Residents can get up to 60% mortgage on their preferred property. However, this may vary from person to person.

For expat residents (first-time buyer): 20%
For UAE nationals (first-time buyer): 15%
For expat residents (second-time buyer): 40%
For UAE nationals (second-time buyer): 35%
There are exceptions to the rules though, some of the banks allow 2nd-time buyers, 20% and 15% deposits for expats and locals, respectively, if their existing mortgage is under 60% LTV.

The required documents for Salaried and Self Employed professionals are different, as listed below:
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For salaried applicants:

• ID documents
  
• Salary certificate
• 6 months' payslips
• 6 months' bank statements
• Details of existing liabilities

For self-employed applicants:

• ID documents
  
• Company documents (trade licence, incorporation documents, memorandum of association, shareholders certificate, company profile, etc)
• Audited accounts and/or 12 months business bank statements,
• 6 months' personal bank statements and
• Details of existing liabilities

This varies from bank to bank but normally banks will reply with initial observations and requests within 2 working days. Once additional documents have been provided, or additional questions have been addressed, the turnaround time to receive a pre-approval is usually between 5-7 working days.