Residents in the UAE who earn a monthly salary of AED 15,000 or more now have access to a new digital service that makes it easier than ever to buy their first home. Mashreq Bank, one of Dubai’s leading financial institutions, has launched a fully online mortgage pre-approval platform that allows individuals to check their loan eligibility and receive an official pre-approval letter—all within the same day.

This innovative solution is designed to help expat residents in Dubai and Abu Dhabi understand how much they can borrow before committing to a property purchase, giving them confidence and clarity in the early stages of their home-buying journey.

What Is Digital Mortgage Pre-Approval?

Digital pre-approval is an initial confirmation from the bank that you are eligible for a mortgage, based on your income, current financial obligations, and overall credit profile. It gives you a clear estimate of how much you can borrow and the monthly payments involved, allowing you to start searching for properties that fit your budget.

Once a property is selected, the bank proceeds with further checks, including property valuation and final verification, before issuing full approval.

While pre-approval offers a strong indication of loan eligibility, it is still subject to final review. If an applicant’s financial situation changes or certain conditions are not met, the bank may withhold final approval.

Not Just About Salary: What the Bank Considers

Although a minimum salary of AED 15,000 is required, mortgage eligibility depends on more than income alone. Banks also evaluate other financial commitments listed in your credit report, such as:

• Car loans

• Credit card balances

• Personal loans

• Other recurring obligations

These factors influence the monthly amount you can realistically repay.

According to UAE Central Bank regulations, your total debt burden—including your mortgage—must not exceed 50% of your monthly income. For example, if you earn AED 15,000 per month, all of your loan payments combined (including the mortgage) should not go beyond AED 7,500.

Typically, salaried expatriates buying their first home in the UAE can finance up to 80% of the property’s value, making homeownership more attainable.

What You Need to Apply

The new digital pre-approval service is designed to be fast, paperless, and fully online. Instead of submitting multiple physical documents, you only need to provide:

• Emirates ID

• Passport copy

• IBAN (International Bank Account Number)

Once these documents are uploaded and verified, the bank issues a digitally signed pre-approval letter the same day. This letter can be used to begin your property search or proceed with signing a Memorandum of Understanding (MOU) with the seller—a formal document confirming your intent to purchase.

After the MOU is signed, the bank carries out an independent evaluation of the property before granting the final mortgage approval.

Why This Matters for First-Time Buyers

This simplified process offers several advantages:

• Faster decisions: No waiting weeks for basic approval

• Budget clarity: Know exactly what price range to shop within

• Peace of mind: Buy confidently knowing your loan is pre-approved

• Convenience: Everything is done online, with minimal paperwork

Digital mortgage pre-approval empowers first-time buyers to take control of their journey, reduce uncertainty, and move forward with confidence.

For UAE residents dreaming of owning a home, this new service is a game-changer. With a minimum salary of AED 15,000 and just a few basic documents, you can now secure your mortgage pre-approval online—no stress, no delays, and no guesswork.

Whether you’re eyeing a home in Dubai or Abu Dhabi, the path to ownership just became much more accessible.