How to Get Mortgage Pre-Approval for an Off-Plan Property in Dubai

Sunday, 26 October 2025

Dubai’s real estate market continues to attract investors and homebuyers from around the world. For many, buying an off-plan property is an exciting opportunity due to lower prices, flexible payment plans, and high investment potential.

However, one crucial step before making an offer is obtaining a mortgage pre-approval. This process gives you clarity about your budget, strengthens your position as a serious buyer, and helps you move quickly when you find your ideal property.

Here’s everything you need to know about getting mortgage pre-approval for an off-plan property in Dubai.

Table of Contents

• What is Mortgage Pre-Approval?
• Benefits of Mortgage Pre-Approval
• Documents Required for Mortgage Pre-Approval
• Costs of Mortgage Pre-Approval
• When to Get Pre-Approved
• Steps to Apply for Mortgage Pre-Approval
• Frequently asked questions

What is Mortgage Pre-Approval?

Mortgage pre-approval is an initial evaluation by a bank that confirms you meet their criteria for a home loan. It estimates the loan amount you are likely to receive based on your financial profile.

While pre-approval is not a legally binding commitment, it shows sellers that your finances are in order, giving you a competitive advantage in Dubai’s fast-paced property market.

Benefits of Mortgage Pre-Approval

1. Know Your Budget: Pre-approval lets you understand how much you can borrow, helping you narrow down property options.
2. Plan Your Finances: With clear repayment expectations, you can plan your deposit, fees, and future installments effectively.
3. Strengthen Negotiation Power: Sellers view pre-approved buyers as serious, making your offers more attractive.
4. Act Quickly: You can place offers immediately, reducing the risk of losing your dream property to another buyer.

Documents Required for Mortgage Pre-Approval

For Salaried Individuals:

• Valid visa and passport
• Emirates ID
• Recent salary slips
• Bank statements for the past 3–6 months
• Disclosure of all liabilities (loans, credit cards, etc.)

For Self-Employed Individuals:

• Valid visa and passport
• Emirates ID
• Trade license copy
• Audited financial statements for the past two years
• Memorandum of Association (MoA) and incorporation documents
• Disclosure of all liabilities

Tip: Additional documents may be required depending on the bank, so confirm requirements beforehand.

Costs of Mortgage Pre-Approval

In most cases, mortgage pre-approval is free of charge in Dubai. Rarely, banks may charge a small non-refundable application fee. Other fees, such as property valuation, registration, or insurance, may apply later during the mortgage process.

When to Get Pre-Approved

It is recommended to get pre-approval before you start house hunting. This ensures you know your budget, can focus on properties within your range, and avoids the stress of handling pre-approval while searching for a home.

Typically, a pre-approval letter is valid for 30 to 90 days, giving you sufficient time to explore options and make an informed decision.

Steps to Apply for Mortgage Pre-Approval

1. Research Mortgage Options: Compare different banks and home loan offerings.
2. Check Eligibility: Ensure you meet age, income, and residency requirements.
3. Prepare Documentation: Gather all required paperwork for submission.
4. Submit Application: Provide your documents to the bank or a mortgage advisor for assessment.
5. Receive Pre-Approval: Once approved, you’ll get a pre-approval letter specifying your loan amount.

Processing Time: If your documents are complete, most banks issue a mortgage pre-approval within 5–7 business days.

Obtaining mortgage pre-approval for an off-plan property in Dubai is a smart first step toward securing your dream home. It provides financial clarity, strengthens your position as a buyer, and allows you to act quickly when you find the right property.

Start your mortgage pre-approval today and move confidently toward owning your ideal off-plan property in Dubai.