Off-Plan Mortgage in Dubai: How to Apply

If you're eyeing an off-plan property in Dubai, understanding how off-plan mortgages in Dubai work, can save you time, money, and a lot of confusion. Whether you're a first-time buyer or an investor looking for flexibility, this guide walks you through every step clearly and practically. Let's simplify the process.

What Is an Off-Plan Mortgage in Dubai?

An off-plan mortgage in Dubai allows buyers to finance a property that's still under construction. Unlike traditional mortgages, where the home is ready to move in, this option lets you secure a property early in its development phase. This means you lock in a lower price and enjoy flexible payment terms while the building takes shape.

Developers usually require a portion of the property to be paid upfront before the bank steps in with financing. This blend of staged payments and mortgage helps buyers spread their costs comfortably.

Who Can Apply for an Off-Plan Mortgage in Dubai?

Not everyone is eligible. Here's what lenders generally look for:

A valid UAE residence visa
Minimum monthly income (AED 15,000 or more is typical)
Stable employment or business ownership
Strong credit history and existing bank relationship
Minimum down payment of 20-25%, depending on the lender

Banks will evaluate your debt-to-income ratio, credit score, and employer classification before approval.

How to Apply for Off Plan Mortgage in Dubai – Step-by-Step

Applying for an off-plan mortgage in Dubai is simple if you know the process:

Choose Your Property
Look for RERA-approved developers
Example: Evora Residences in Al Furjan offers a secure option with a 30/70 payment plan
Secure a Mortgage Pre-Approval
Approach banks for a pre-approval letter valid for 60-90 days
This gives you clarity on your budget
Pay Initial Down Payment to Developer
Usually between 20-30% of the property value
Submit Documents to the Bank
Passport, Emirates ID, salary certificate, bank statements, sales agreement
Bank Evaluation
The bank reviews the project and your documents
Mortgage Issuance
Once approved, your mortgage is disbursed as per project milestones

Documents Required for Off-Plan Mortgage in Dubai

Valid Passport and Visa Copy
Emirates ID
Salary Certificate or Trade License (for business owners)
Last 6 months' bank statements
Credit card statements (if applicable)
A reservation form or SPA from the developer

Key Benefits of Off-Plan Mortgage in Dubai

Lower upfront cost compared to ready properties
Flexible payment terms from developers
Price appreciation as construction progresses
Long repayment tenure (up to 25 years)
Attractive interest rates starting from 3.5%*

Off Plan vs Ready Property Mortgages

Feature	Off Plan Mortgage	Ready Property Mortgage
Down Payment	20-30% upfront	15-25% upfront
Bank Disbursement	In stages	Full amount post-handover
Possession Timeline	2-4 years	Immediate
Price Per Sq Ft	Lower	Higher
ROI Potential	Higher (post-completion)	Steady

Real Estate Developers That Make It Easy for Buyers

Leading real estate developers in Dubai, like Anax Developments, simplify property buying by offering post-handover payment plans. For instance, Evora Residences in Al Furjan & V-suits in Business Bay allow buyers to pay 30% during construction and 70% after handover, making it easier to manage finances while building equity. 30/70 plan is really the go-to exploration option for you!

Explore Evora Residences - A secure, RERA compliant investment with premium amenities and strong future potential.

Off-Plan Mortgage Risks & How to Manage Them

Every opportunity comes with a few risks. Here's how to manage yours:

Construction Delays: Choose a reputed developer with a track record
Market Fluctuations: Invest in stable areas like Al Furjan
Financing Challenges: Secure pre-approval and maintain a good credit profile

Is Off Plan Mortgage in Dubai Worth It?

Absolutely. If you're looking to invest early, get better pricing, and don't need immediate possession. Off-plan properties often deliver higher capital appreciation and let you tap into premium areas before prices peak.

Final Thoughts

Off-plan mortgage in Dubai is a powerful tool for building long-term value. As Dubai's property market continues to grow, this financing route helps investors and end-users alike make smarter purchases.

Looking to explore secure, affordable, and promising off-plan apartments? Start with Evora Residences in Al Furjan, one of Dubai's best-located communities with great ROI and smart payment options.

FAQs

What is off plan mortgage in Dubai?
It's a home loan that finances the purchase of a property under construction. The bank pays in stages as the building progresses.

Can I get a mortgage on off-plan property in Dubai?
Yes, if you're a UAE resident with stable income and meet the bank's requirements, you can apply for off plan mortgage.

How to sell off plan property in Dubai?
You can sell it before handover, depending on your contract. Some developers may charge a transfer fee or require partial payment completion.

Is off-plan investment profitable in Dubai?
Yes. You lock in at today's prices, enjoy flexible payment, and benefit from value appreciation by the time of handover.

How long is an off plan mortgage term?
Typically up to 25 years, similar to ready property loans, but tied to construction stages.

Which bank is best for off-plan mortgages in Dubai?
It depends on your profile. Emirates NBD, ADCB, Mashreq, and FAB are top choices offering competitive rates.

Do I need a big down payment for off plan mortgage?
Generally, yes. Expect 20–30% upfront, with the rest covered through financing.

June 2025

Off Plan Mortgage in Dubai: How to Apply - Full Guide