Home Finance in Oman: How Mortgages Work for Citizens, Residents and Expats

Many buyers in Oman combine savings with bank finance. Home finance is offered by conventional banks and by Islamic banks and windows, under the supervision of the Central Bank of Oman. Eligibility, limits and pricing differ by lender and by the borrower’s profile, so the most useful first step is to understand how banks assess an application.

Conventional versus Islamic home finance

• Conventional mortgage – the bank lends money secured on the property, and you repay principal plus interest over an agreed term.
• Islamic home finance – structured according to Sharia principles, commonly through arrangements such as Ijarah (lease-to-own) or diminishing Musharakah (gradual buy-out of the bank’s share). The bank earns a profit rate rather than interest.

Both require careful comparison of the total cost over the full term, not only the headline rate.

What banks typically assess

• Income and employment – stability, employer, length of service and salary transfer.
• Debt burden – existing loans and credit cards relative to income.
• Residency status – expatriate eligibility and terms vary between banks and may be linked to residence and employment.
• Property eligibility – the property must be acceptable as security, with clear title and valuation.
• Down payment – banks finance only part of the value; you fund the rest plus costs.

Documents to prepare

1. ID or resident card and passport
2. Salary certificate and recent bank statements
3. Employment contract or employer letter
4. Details of existing financial commitments
5. Property documents: title deed, krooki or off-plan contract
6. Valuation report arranged through the bank’s approved valuers

Costs beyond the rate

• Arrangement or processing fees
• Valuation fees
• Property and life insurance required by the lender
• Registration costs for the mortgage and transfer
• Early settlement charges if you repay ahead of schedule

Off-plan and finance

Banks may treat off-plan purchases differently from ready property, and not every project is accepted by every lender. If you will rely on finance, confirm the bank’s position on the specific project before paying a reservation fee. Read Off-Plan Payment Plans in Oman for the schedule questions to ask.

Questions to ask your bank

1. Am I eligible as a resident or expatriate, and on what terms?
2. What proportion of the property value can be financed?
3. Is the rate fixed, variable or fixed for an initial period?
4. What are all the fees and required insurances?
5. Is the property or project on your approved list?
6. What happens if I change jobs or leave Oman?

For the full purchase process, see Buying Property in Oman in 2026 and Property Documents in Oman Explained. The Central Bank of Oman publishes banking regulations and consumer information.

Frequently asked questions

Can expats get a mortgage in Oman?

Some banks offer home finance to eligible expatriate residents. Criteria and terms vary, so compare lenders.

Is Islamic home finance more expensive?

Not necessarily. Compare the total cost, fees and flexibility of each offer over the full term.

Should I get pre-approval before searching?

Yes. Pre-approval clarifies your budget and makes negotiations more credible.

Want to align your search with your financing? Talk to Muscat Gates.

General information only; not financial advice. Terms are set by each lender and regulations may change.

Cover photo: Wael Mohammed Al-Masri (CC BY-SA 4.0), Wikimedia Commons