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Having Co- Applicant for your Uae home loan

Having Co- Applicant for your Uae home loan | Dhanguard

In the UAE, there are a variety of home loan products to accommodate different buyers and their specific needs. As a prospective buyer, you'll almost definitely want to search around for the best offers that suit your long-term goals, but there are a few other things to think about while getting a home loan in UAE.

Buying a home is one of the most significant investments most people can make in their lifetime. It's important that you know everything there is to know about the property you're buying and any financing you're using to make it happen. One field where we've noticed a lack of understanding among our married clients is the advantages of having both husband and wife on Loan Application.

Who is a Co-Applicant?

A co-applicant is someone who joins the main applicant or borrower in applying for a home loan. There is no legal requirement for a co-applicant, and lenders do not need it unless certain requirements are met. However, obtaining a co-applicant increases the likelihood of a loan application being accepted because the income of both borrowers is combined, making it easier to meet the eligibility requirements. Since their incomes are pooled, co-applicants will be able to obtain a larger loan if they so wish. However, it's worth noting that, in certain cases, the income of the co-applicant might not be taken into account when calculating the loan's income eligibility requirements.

Who is eligible to apply as a co-applicant for taking Home Loan in UAE?

Who may be a co-applicant is governed by a set of laws. A minor cannot be a co-applicant because he or she is unable to legally enter into a contract. Co-applicants are usually required to be spouses and blood relatives. The following are examples of appropriate co-applicants:

Father and Son

Both the father and the son will apply for the loan if the son is an only child. Both applicants' salaries will be taken into account, the property will be in their names, and either of them will be the primary owner. The father cannot be the sole owner of the property if there are several sons and the father and son want to apply for a loan together.

Father and Unmarried Daughter

If a father and an unmarried daughter are co-applicants, the property must be in the daughter's name only. This is done to prevent any potential legal issues following the daughter's marriage. The father's earnings are not taken into account.

Mother and Unmarried Daughter

The property is in the name of the daughter, and the mother's income is not taken into account, just as it is in the case of a father and daughter combination.


If two brothers are currently living together and plan to do so in the new home, they will apply for a loan together. A few lenders may require both parties to be co-owners. A brother, on the other hand, cannot apply for a loan with his sister.

What are the benefits of applying for Home Loan with Co-Applicant in UAE?

The benefits of applying for Home Loan with Co-Applicants in UAE are as follows-

Home Loan with Co-Applicant in UAE

How to apply for home loan with Co-applicant in UAE?

Contrary to common opinion, a co-applicant in the UAE is not required to have proof of income. They don't even have to be employed, as long as the key applicant has shown that they can handle the loan payments on their single income in the long run.

Our loan calculator is a helpful tool for figuring out what your monthly loan payments could be.

Read More- Crucial Factors that Affect your Mortgage Loan Interest Rates in Dubai

What are the requirements for obtaining a home loan in the United Arab Emirates with a co-applicant?

Banks in the United Arab Emirates usually use four key criteria to determine that whether a person is eligible for a home loan with his or her co-applicant:

1. Time spent in the UAE (typically 6 months to a year)

2. The average work tenure in the United Arab Emirates is five years (typically a minimum of 6 months)

3. A trip to the United Arab Emirates on business (typically 2 to 3 years)

4. A credit history


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