Mortgages in the UAE aren’t what they used to be.

Years ago, financing a home here felt reserved for the few, usually those with significant savings or high-income jobs. But times have changed. Today, more residents, including expats who’ve lived here for several years, are getting approved for mortgages. And while that’s good news, it also means there’s more to figure out.

Whether you're eyeing a studio in Dubai Marina or a villa in Khalifa City, understanding how the mortgage system works is the first step. Because the last thing you want is to sign a 25-year commitment you don’t fully understand.

The Basics, Quickly

Here’s the deal: for first-time buyers, UAE nationals can borrow up to 80% of the home’s value. Expats? Usually 75%. That’s per the Central Bank's current LTV rules.

Your interest rate will likely be fixed for a short term, say two or three years, then move to a floating rate based on EIBOR. Sounds simple? It’s not. That shift in rates can mean thousands of dirhams extra each year.

In a Property Monitor update from late 2023, mortgage-backed purchases accounted for just over half of all residential transactions in Dubai. That tells us people are borrowing, but also, the system is growing more competitive.

Fixed or Floating? It’s Not Just Math

Let’s say you’re offered a 3.89% fixed for two years, then it floats. Should you take it? Depends.

In early 2024, someone in Mirdif locked in a fixed rate just before EIBOR spiked. By midyear, their monthly payments were lower than their neighbour’s, even though they bought similar homes. Timing matters. But so does risk tolerance.

If you can’t sleep knowing your rate might go up? Fixed is safer. If you’re okay riding the market (and possibly saving), floating might work better.

The Brokers Behind the Scenes

You don’t have to go through this alone. Many buyers turn to brokers. Not because they can’t go to banks directly, but because brokers do this full-time. They know which lenders are flexible, which ones are slow, and which ones will quietly tack on extra insurance fees.

Some well-known names include:

Mortgage Finder
Home Matters
Holo
Just Mortgages
Galaxy Prime Mortgage

Each of these firms works across various banks. They don’t make the decision for you, but they help present it clearly. Galaxy Prime Mortgage, for instance, has been noted in forums for their responsiveness, especially for expats applying without local credit history.

Finding the Best Mortgage Broker UAE Buyers Can Trust

Here’s where it gets important. You want someone who’s licensed, answers questions honestly, and doesn’t push one lender over another.

If you’re not sure where to begin, you can check out one of the best mortgage broker UAE clients recommend by browsing independent reviews, not just Google ratings. Look for experience, multiple lender partnerships, and transparency about fees.

Final Thoughts (Not the Sales Pitch Kind)

Mortgages aren’t just about money; they’re about commitment. Long-term. Which is why it’s okay to slow down. Ask questions. Compare. Change your mind halfway.

And while names like Galaxy Prime Mortgage, Holo, or Just Mortgages are in the mix, the “best” broker depends on what you need: fast approvals, low rates, or just someone who picks up the phone when you call.

No two buyers are the same, and the right loan isn’t always the lowest rate. Sometimes, it’s the one you understand best.

Navigating the Mortgage Market: What UAE Homebuyers Should Know