Question 1

What is LTV?

Accepted Answer

LTV (Loan-to-Value) is the percentage of a property’s value that a bank finances through a home loan. It helps determine how much you need to pay as a down payment versus how much you can borrow.

Question 2

What is DBR?

Accepted Answer

DBR (Debt Burden Ratio) is the percentage of a person’s monthly income that goes towards repaying all existing loans and credit obligations, including the new proposed mortgage. It helps banks assess whether a borrower can comfortably manage additional debt. In the UAE, the typical DBR limit is 50% of monthly income, meaning total loan repayments should not exceed half of your salary.

Question 3

What do I need to get pre-approval for a mortgage loan?

Accepted Answer

Salaried individuals need KYC documents (passport, visa, Emirates ID), six months of bank statements, and a salary certificate. Self-employed applicants need KYC documents, six months of personal and business bank statements, and a copy of their trade licence.

Question 4

For how long is a pre-approval valid?

Accepted Answer

A pre-approval offer is typically valid for 45–60 days, depending on the lending policy of the bank.

Question 5

How much down-payment is required?

Accepted Answer

Down payment requirements are regulated by the Central Bank. For completed properties, it ranges between 20% and 40% of the property value. For under-construction properties, a 50% down payment is generally required.

Question 6

Why do I need a mortgage broker?

Accepted Answer

A mortgage broker analyses products across lenders, saves you time, and guides you through documentation and transfer until completion. At Money Matters, we work by your side throughout the journey.

Question 7

I am a non-resident. Am I eligible to get a mortgage?

Accepted Answer

Yes. Certain banks in the UAE offer mortgages to non-residents. Terms may include a higher down payment and different rates compared with UAE residents.

Question 8

How soon can I get my mortgage loan approved?

Accepted Answer

With complete documentation in order, approval can often be obtained within two business days for salaried applicants and within five business days for self-employed applicants.

Question 9

What is the maximum tenure of a mortgage loan?

Accepted Answer

The maximum tenure is 25 years, though this may be shorter depending on your age at maturity.

Question 10

How much can I borrow?

Accepted Answer

Borrowing capacity depends mainly on income and liabilities. For purchases under AED 5 million, maximum LTV is typically 80% for expatriates and 85% for UAE nationals. Our team outlines options so you can decide with confidence.

Question 11

I am self-employed. Can I get a mortgage?

Accepted Answer

Yes. Banks have different criteria for self-employed applicants. We work with lenders that look favourably at self-employed profiles and structure applications accordingly.

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