Typically, your borrowing limit is calculated as 7 times your annual salary, though this varies by bank. Existing loans, credit cards, and other liabilities can also impact the maximum amount you can borrow.

Rates vary between banks and depend on your financial profile and employment type (salaried or self-employed).

• Expat residents (first-time buyers): 20%

• UAE nationals (first-time buyers): 15%

• Expat residents (second-time buyers): 40%

• UAE nationals (second-time buyers): 35%

Exceptions exist, as some banks offer reduced deposit rates of 20% for expats and 15% for nationals if their existing mortgage is below 60% LTV.

• Salaried applicants: ID, salary certificate, 6 months’ payslips, 6 months’ bank statements, and details of existing liabilities.

• Self-employed applicants: ID, company documents (trade license, incorporation documents, shareholder certificate, etc.), 12 months’ business bank statements, 6 months’ personal bank statements, and details of existing liabilities.

Most banks provide initial observations within 2 working days. After submitting all required documents, pre-approval typically takes 5-7 working days.