Key Points in 15 Seconds
- Pre-approval takes 2-3 working days with complete documents
- Confirms your exact budget before property hunting
- Valid for 60-90 days - enough time to find your property
- Strengthens your negotiating position with sellers
What is Mortgage Pre-Approval?
Pre-approval is a conditional statement from a bank confirming how much they're willing to lend you based on your financial profile. It gives you a clear budget before you start viewing properties.
Unlike a casual estimate, pre-approval involves document review and credit checks. While not a final guarantee, it's a strong indicator that you'll be approved for the stated amount if the property meets bank criteria.
Why Get Pre-Approved?
Know Your Budget
Shop with confidence knowing exactly how much you can borrow
Stronger Position
Sellers prefer buyers with pre-approval - shows serious intent
Faster Closing
Speed up final approval when you find your property
Identify Issues Early
Discover and resolve any credit issues before they delay your purchase
The Pre-Approval Process
Submit Application
Complete the application form and upload basic documents
Document Review
Bank reviews your income, employment, and credit history
Credit Check
Bank checks your AECB credit report
Pre-Approval Issued
Receive your pre-approval letter stating loan amount and terms
Documents for Pre-Approval
Salaried Employees
- Emirates ID / Passport
- Valid UAE Visa
- Salary Certificate
- 3-6 Months Bank Statements
Self-Employed
- Emirates ID / Passport
- Trade License
- Audited Financials (2 years)
- Company Bank Statements
Pre-Approval vs Final Approval
| Aspect | Pre-Approval | Final Approval |
|---|---|---|
| Property Required? | No | Yes |
| Timeline | 2-3 days | 5-7 days |
| Valuation | Not required | Required |
| Commitment | Conditional | Binding |
| Validity | 60-90 days | Until completion |
Ready for Pre-Approval?
Get your pre-approval letter in 2-3 days and know exactly how much you can borrow. Compare offers from 18+ UAE banks.
Ready to Get Pre-Approved?
Submit one application and receive pre-approval from multiple banks. Know your exact budget and start property hunting with confidence.
Get Pre-Approved NowRelated Resources
Frequently Asked Questions
What is mortgage pre-approval?
How long does pre-approval take?
How long is pre-approval valid?
Does pre-approval guarantee final approval?
What documents do I need for pre-approval?
This content is not financial advice. Please consult a licensed financial advisor before making borrowing decisions.
LeoCompare may receive referral commissions from partnered financial institutions. This does not influence the information presented.
Reviewed by the LeoCompare Editorial Team – specialists in UAE home financing content.
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