Residential Mortgage Services

Home is a basic need that everyone should have. Buying a home is one of the most important financial decisions you will ever make. A residential mortgage helps you purchase or refinance a home without paying the full amount on the spot. Your amount will be divided into manageable monthly payments. At City Mortgage, we make home financing easy by helping you find the right mortgage with clear terms and full support throughout the process.

Whether you are buying your first home, already own property, or are investing, our mortgage specialists guide you step by step and help you choose a solution that fits your budget as well as goals.

What Is a Residential Mortgage?

A residential mortgage is simply a loan that helps you buy, build, or refinance a home. It can also be an apartment, villa, or townhouse. The home itself is used as security, and you pay back the loan in monthly installments over a set time, usually between 5 and 25 years.

One of the ways through which buyers can acquire homeownership is through residential mortgages. This type of loan enables them to get the property without having to pay the full value of the property upfront, resulting in making real estate ownership more accessible and financially more manageable.

Mortgage Eligibility in Dubai

1. Who Can Apply

UAE Nationals: All major banks offer mortgages
UAE Residents (Expatriates): Most common applicants, need valid residency visa
Non-Residents (Foreign Investors): Possible but with stricter conditions and fewer lenders

2. Age Requirements

Minimum age: 21 years at application
Maximum age: Typically 65-70 years at loan maturity (varies by bank)
Some banks extend to age 75 for UAE nationals

3. Income Requirements

Minimum monthly salary: Typically AED 15,000-25,000 for expats
UAE nationals: Some banks accept from AED 10,000
Self-employed: Usually need 2+ years of business history and higher income threshold

4. Debt Burden Ratio (DBR)

Maximum: 50% of monthly income
Calculation: All existing loans + new mortgage installment ≤ 50% of gross monthly income
Credit card balances are typically calculated at 3-5% of total limit

5. Documentation Needed

For Salaried Employees:

Passport and visa copies
Emirates ID
Salary certificate
3-6 months bank statements
Existing loan statements (if any)

For Self-Employed:

2+ years audited financials
Trade license
Business bank statements
Personal bank statements

Interest Rate Options

Fixed-Rate Mortgages

A fixed-rate mortgage means your payment remains the same. Basically, your interest rate stays the same for a set period. This makes it easier to plan your budget and know exactly what you will be paying for each month.

Variable-Rate Mortgages

Variable rates fluctuate based on market conditions. These mortgages may offer lower initial rates and potential savings when market interest rates decline.

Shariah-Compliant Home Financing

If you are looking for a home financing option that aligns with Shariah principles, Islamic home financing is available. Instead of charging interest, these solutions work through partnership or lease-to-own models.

Why Choose Our Residential Mortgage Services?

Access to multiple banks and financial institutions
Competitive interest rate negotiation
Customized mortgage structuring
Support from application to final loan payout.
Clear communication and transparent guidance

Our objective is not only to secure approval but to ensure the mortgage aligns with your long-term financial well-being.

Start Your Homeownership Journey

Our residential mortgage specialists have decades of experience to help you, whether you are getting a mortgage for your first home or refinancing your existing property. We handle all the paperwork and complex lending processes, so you can focus on your dream of homeownership.