Frequently Asked Questions

Our streamlined process takes 24-48 hours for pre-approval and 7-14 days for final approval once you've selected a property. Pre-approval gives you a clear budget to work with, while final approval depends on property valuation and completing all required documentation.

You'll need: Emirates ID and passport (copy), salary certificate (last 3 months), bank statements (6 months), NOC (No Objection Certificate) from your employer, property documents (if you've selected a property), and any additional documents requested by the bank. We'll provide you with a complete checklist tailored to your situation once you start your application.

For expats: 20% for properties valued under AED 5 million, and 30% for properties above AED 5 million. For UAE nationals: Minimum 15%.

Most banks require a minimum monthly salary of AED 15,000 for expats. However, some lenders may accept slightly lower salaries depending on your overall financial profile and the loan amount.

Rates vary by product: Fixed-rate mortgages: Typically 3%–5% per year for the fixed period (1–5 years). Variable-rate mortgages: Based on EIBOR + bank margin (fluctuates with the market).

Not at all especially with the right support. At MyLoanex, we start with a free, instant eligibility check that doesn't affect your credit score. Your dedicated case manager then handles the entire process while you track everything in real time.

A mortgage is a loan specifically used to purchase property. The property itself acts as collateral. You repay the bank in monthly instalments (principal + interest). If payments are not made, the bank has the right to take ownership of the property.

Banks typically allow borrowing up to 7× your annual salary, provided your total monthly debt repayments (including the new mortgage) do not exceed 50% of your monthly income (Debt Burden Ratio). Use our free Mortgage Affordability Calculator on myloanex.com for an instant estimate.

It ranges from 550–700 depending on the bank. A higher score gives you better rates and smoother approval.

They consider the loan amount, interest rate (fixed or variable), loan tenure (usually 15–25 years), your income, and existing financial commitments.

A fully personalized home-buying service. Your dedicated concierge finds verified off-market and on-market listings, arranges viewings at your convenience, negotiates the best price, and manages all paperwork until the keys are in your hand.

A regular agent works for the seller. Our MyLoanex concierge works exclusively for you the buyer to secure the best deal and terms.

A Sharia-compliant alternative to conventional mortgages that avoids interest (riba). It uses partnership, leasing, or cost-plus models instead.

Conventional mortgages charge interest. Islamic finance structures the transaction through co-ownership, leasing, or deferred sale so there is no interest involved.

Anyone (Muslim or non-Muslim) who meets the bank's eligibility criteria.

Almost everything: ready apartments and villas (new or resale), off-plan properties, plots of land, and construction financing.

No, the down payment must come from your own funds. However, some banks can finance part of the DLD fees and broker fees if you qualify.

Bank valuation fee: AED 500–5,000. Processing fee: Up to 1.5% of the loan amount. DLD mortgage registration fee: 0.25% of the loan amount + AED 290.

Not mandatory, but highly recommended. Having a pre-approval letter shows sellers and agents you're a serious buyer and speeds up the final approval once you find your property.

We work with every major bank in the UAE, so we can compare dozens of offers and find you the best rate and term ,something you can't do by visiting one bank at a time.

Absolutely. Data privacy and security are our top priorities. Full details are available in our Terms & Conditions.

Market-leading commission rates. Access to exclusive bank offers. Real-time case tracking via our dedicated Agent Portal. Personal Partner Success Manager to push files faster.