Can Foreigners Get Mortgages in Turkey? What You Need to Know
Turkey’s real estate market has been attracting international buyers for years — thanks to its growing economy, diverse property options, and beautiful locations. But one of the most common questions we get from foreign clients is:
“Can I get a mortgage in Turkey as a foreigner?”
The answer is yes, but there are important rules, requirements, and limitations to understand first.
In this blog, we’ll break down everything you need to know about getting a mortgage in Turkey as a non-citizen.
Can Foreigners Apply for Mortgages in Turkey?
Yes — many Turkish banks offer mortgage loans to foreign nationals. However, the process is slightly different than for Turkish citizens and depends on factors like:
Your nationality
Your income and financial history
The bank you apply with
The location and type of property
Some nationalities may face more restrictions than others, so it’s important to work with a real estate agent or mortgage consultant familiar with the rules.
What Are the General Mortgage Terms for Foreigners?
Mortgage terms for non-Turkish citizens tend to be somewhat more conservative than local loans. Typical terms include:
Loan-to-Value (LTV) Ratio: Up to 50-70% of the property’s appraised value
Term Length: Usually 5–15 years
Interest Rates: Vary depending on the bank, currency, and applicant’s profile
Currency: Most loans are issued in Turkish Lira (TRY), but some banks offer foreign currency options
Keep in mind that the property must be officially registered and suitable for mortgage financing (some rural or unfinished properties may not qualify).
What Documents Do You Need?
To apply for a mortgage in Turkey, foreigners typically need:
A valid passport
Turkish tax ID number (easy to get)
Proof of income or employment (translated into Turkish)
Bank statements and credit reports
Property title deed (or preliminary contract)
Proof of residency status (if applicable)
Banks will also run a background and financial risk assessment before approval.
Pro Tip: Pre-Approval Is Smart
If you’re seriously considering buying in Turkey, getting pre-approved for a mortgage can strengthen your offer when negotiating with sellers. It also gives you a clear idea of your budget before you start viewing properties.
What Should You Watch Out For?
Fluctuating interest rates — Turkish mortgage rates can change rapidly.
Appraisal values — Banks base loans on the official appraised value, not the sale price.
Loan currency risk — If your income is in a different currency, make sure to understand the exchange rate impact.
Not all banks lend to all nationalities — Some may have internal restrictions, so shop around or consult a mortgage expert.
Can I Use a Mortgage to Buy Citizenship-Eligible Property?
Yes — but you must pay at least $400,000 in cash (not financed) to qualify for the Turkish Citizenship by Investment program. If you plan to apply for citizenship, the property must be purchased without a mortgage.
Final Thoughts
Foreigners can absolutely get mortgages in Turkey — but doing it successfully means understanding the system, preparing the right documents, and working with experienced professionals. Whether you’re buying an apartment in Istanbul or a villa along the coast, we’re here to help guide you every step of the way.
Looking to finance your home in Turkey? Contact us today to explore the best mortgage options for your situation.
