Is there a mortgage for foreigners in Turkey?

Turkey remains one of the most attractive markets for real estate investment among foreign buyers. Many consider the purchase of housing not only for vacation, but also as an investment or permanent residence. However, not everyone is ready to immediately pay the full cost of the object, so the question arises: is it possible to buy an apartment in Turkey with a mortgage?

Is a mortgage available for foreigners in Turkey?

The short answer is yes, foreigners can take out a mortgage in Turkey. Unlike many countries where lending for non-residents is limited, Turkish banks actively offer programs for foreign investors.

Conditions for obtaining a mortgage

• Interest rates: from 5% to 9% per annum.
• Down payment: from 30% to 50% of the value of the object.
• Loan term: from 1 to 20 years.
• Loan amount: minimum $50,000, maximum - up to 70% of the cost of housing.

Requirements for borrowers

To get a mortgage, a foreigner will need:

• Passport.
• Certificate of income.
• Credit history (can be requested from the country of residence).
• Opening an account in a Turkish bank.
• A tax number (Vergi Numarası), which can be issued in 10-15 minutes.
• In some cases, a residence permit (but not always mandatory).

How to apply for a mortgage?

• Choose an apartment or villa.
• Apply to the bank.
• Pass the real estate appraisal.
• Get approval of the loan.
• Sign the contract.
• Register the mortgage at the Cadastral Office.

Which banks give mortgages to foreigners?

Some of the largest banks offering mortgages for foreigners:

• Garanti BBVA - loans up to 70% of the housing value.
• Ziraat Bankası - state-owned bank with favorable rates.
• İşBankası - flexible terms.
• Yapı Kredi - loans for up to 15 years.
• DenizBank - popular among foreign investors.

Alternative ways to buy

If the bank refuses a mortgage, you can consider other options:

• Installment payment from the developer - interest-free payments for 12-60 months.
• Home country loan - you can borrow from your home bank.
• Private lenders - investment funds are sometimes possible.

Pros and cons of mortgages in Turkey

✅ Affordability of mortgages for foreign nationals.

✅ Flexible terms.

✅ Possibility to rent out your home and cover the payments.

❌ High down payment (30-50%).

❌ Risk of currency fluctuations.

❌ Not all foreigners can prove income.

In 2025, mortgages in Turkey remain an affordable option for investors. If you want to buy an apartment in Istanbul, Antalya or any other city, Pemlak specialists will help you find the right option and finalize the deal. Contact us at the link and we will help you find the best conditions for your purchase!