On this page
- The 50 % ceiling, applied to Canadians
- Three profiles, calculated
- The HELOC question
- Canadian rental property
- Renewal and rate risk at home
- What to sort out before applying
- Frequently asked questions
The 50 % ceiling, applied to Canadians
Official rule In the UAE, all debt payments together may take at most 50 % of gross salary and regular income.[1] Bank practice The bank applies that to all your commitments wherever they are. A Canadian mortgage is not invisible because it is in another country; it shows up on your bank statements, on the application form and on any Canadian credit report the lender asks you to provide.
Bank practice Many lenders use an internal limit below 50 % for non-residents and calculate the Dubai payment at a stressed rate. The calculation below therefore shows the outer edge, not a target.
Three profiles, calculated
Worked example Gross income CAD 150,000 a year, about AED 32,168 a month at the Bank of Canada rate of 9 October 2026.[3][4] Dubai loan AED 975,000 at 5.5 % over 25 years[5]: AED 5,987 a month.
| Profile | Canadian payments, CAD/month | All payments incl. Dubai, AED/month | Share of gross income |
|---|---|---|---|
| A: Canadian mortgage only | 2,500 | 12,421 | 38.6 % |
| B: mortgage and car | 3,200 | 14,222 | 44.2 % |
| C: mortgage, car and a drawn HELOC | 4,300 | 17,053 | 53.0 % |
Profile A has room. Profile B is close to the ceiling and may already be above a bank's internal limit. Profile C crosses 50 % and would need a smaller loan, a larger down payment or a debt repaid first.
The HELOC question
Official rule Under OSFI Guideline B-20, federally regulated lenders in Canada are expected to cap the revolving HELOC portion at 65 % of the home's value, and a HELOC combined with an uninsured mortgage at 80 %; provincially regulated lenders such as credit unions follow their own rules.[2] Many Canadians therefore have a sizeable limit available, drawn or not.
Bank practice For the UAE bank two things matter: what you owe on the HELOC today, and whether it counts the unused limit. Lenders differ on the second point, so ask. If you plan to draw on the HELOC for the Dubai down payment, the HELOC payment becomes part of your debt from that day, and the UAE bank will want to see where the down payment comes from.
Canadian rental property
Bank practice If you own a rental property in Canada, its mortgage counts. Some lenders offset part of the rent if you can show a lease and the rent arriving in your account; others ignore the rent entirely. Prepare the lease, twelve months of rent deposits and the property's mortgage statement, and assume the worst case in your own planning.
Renewal and rate risk at home
Your Canadian mortgage carries its own rate risk. If your term renews in the next year or two, the payment the UAE bank sees today may not be the payment you will make. A Dubai purchase that only works at today's Canadian payment is a purchase with two rate risks, one in each currency. Run your budget with a higher Canadian payment and the Dubai stress case from the guide for Canadians.
What to sort out before applying
- List every monthly payment in Canada: mortgage, HELOC, car loan or lease, student loan, personal loan, co-signed loans.
- Collect the statements behind each line; the bank will compare them with your bank statements.
- Ask the UAE lender how it treats an undrawn HELOC limit and credit card limits.
- Whether to repay or close any Canadian credit before applying is a question for your Canadian lender, since it can affect your Canadian credit file.
- Decide with a Canadian professional whether home equity should fund the down payment at all.
- Check your Canadian renewal date and model the payment after renewal.
For employees the income side is on T4 salary, NOA and CAD income, for owners on Incorporated owners and the self-employed.
Frequently asked questions
Does an undrawn HELOC count?
Can rent from my Canadian rental property offset its mortgage?
Should I use my HELOC for the Dubai down payment?
My Canadian mortgage renews next year. Does that matter?
Do credit cards I pay off every month count?
Sources
- Central Bank of the UAE, Regulations Regarding Mortgage Loans: maximum loan-to-value for expatriates 80 % on a first home under AED 5 million, 70 % above it, 60 % on a second or investment property and 50 % on off-plan property; debt burden ratio up to 50 % of gross income; maximum tenor 25 years; valuation required before the loan. Non-residents are not defined as a separate category. rulebook.centralbank.ae
- Office of the Superintendent of Financial Institutions, advisory on Guideline B-20: federally regulated lenders are expected to cap HELOCs at 65 % loan-to-value, and a combined plan with an uninsured mortgage cannot exceed 80 %. osfi-bsif.gc.ca
- Bank of Canada, daily exchange rates (USD/CAD daily average, read automatically through the Bank's Valet interface): the CAD figures on this page are recalculated from the latest published rate; the figures in the page source use 1 USD = 1.4271 CAD (9 October 2026). bankofcanada.ca
- Central Bank of the UAE, monthly exchange rate table: US dollar at AED 3.6725 (the dirham is pegged to the US dollar). Together with the Bank of Canada rate this gives the value of one Canadian dollar in dirhams used on this page. centralbank.ae
- Nexus Bridge Capital, Dubai mortgage rates and EIBOR: for non-residents our examples assume a fixed rate of 5 to 6 %. nexusbridgecapital.de
Initial financing assessment
If you live in Canada, or are a Canadian living elsewhere, and are looking at a property in Dubai, fill in this short form. We will tell you which questions need answering before a lender is approached. This is not a credit approval or an offer of finance, and it commits you to nothing. You will hear from us within one business day at the latest.