How to Get a Mortgage in Turkey: Conditions for Foreigners

To get a mortgage in Turkey, you will need:

• a passport, with a certified translation;
• a copy of the seller's TAPU (title deed);
• a tax identification number;
• a copy of the building's technical certificate confirming that the building exists and is fit for habitation. This document is obtained from the developer. In Turkish, it is called iskan, the occupancy permit;
• a certificate of income from your employer (in free form), certified by a notary and translated into Turkish;
• an income tax certificate from your home country;
• confirmation of your bank account;
• a document confirming that you have no loan arrears;
• a valuation report on the apartment from a licensed valuation company: the bank uses it to calculate the loan amount;
• a compulsory earthquake insurance policy (DASK).

You can also provide documents confirming that you own property in your home country, or documents for cars. This will be a significant plus and will show that the buyer is financially secure. Foreign documents are certified with an apostille and translated into Turkish by a sworn translator.

Loans to foreigners are granted for up to 10 years, usually at 2.87–3.24% a month: Turkish banks quote a monthly rate, which works out to about 34–39% a year (data for October 2, 2026, for a TRY 1 million loan over 120 months). Under the rules of the banking regulator BDDK in force since January 2026, for homes worth less than TRY 5 million, a bank can lend 70–90% of the valuation depending on the home's energy efficiency class, but each bank sets its own terms for foreigners. Early repayment is possible, in which case the bank may charge no more than 2% of the amount repaid early on a fixed-rate loan. In practice, mortgages are issued in lira: individuals resident in Turkey are not allowed to take out foreign currency loans.

If all the documents are ready, the bank will review the application as quickly as possible. Most banks can do so within one working week. A valuer is sent to the property, the documents are processed and then a decision is issued. Costs include the bank's fees, property insurance, life insurance for the borrower and sometimes the valuation. If a bank loan does not suit you, a developer installment plan is an alternative: Yekta Homes offers one for 24 and 36 months on all projects.

In previous years, Turkish banks were very interested in lending to foreign nationals, so the rejection rate was minimal. The mortgage procedure was kept as simple as possible. Local bank employees used to say that it was much easier for a foreigner to get a mortgage than for a Turkish citizen. Now, with the Central Bank policy rate at 37%, banks check borrowers more strictly, especially those without income in Turkey. We explain how a mortgage fits into the overall purchase procedure in a separate article.

If you wish, you can give a power of attorney to a real estate agent or another person who will arrange the loan on your behalf. Turkish banks have special forms for this. This is very convenient for people who do not live in Turkey permanently or do not speak Turkish. A power of attorney issued abroad is certified with an apostille.

Contents:

• How to get a mortgage: step by step
• What costs are added to the price of the apartment
• Who a mortgage in Turkey is not right for
• Frequently asked questions

How to get a mortgage: step by step

1. Tax number and account. A tax number is issued at the tax office on presentation of your passport in a single visit. You then open an account at the bank where you plan to borrow.

2. Pre-approval. The bank checks your income and credit history and tells you how much you can expect to borrow. It is worth doing this before paying a deposit on an apartment.

3. Choosing the property. Banks lend on completed homes with an occupancy permit (iskan). Loans for homes under construction are granted less often and for a smaller share of the price.

4. Valuation. A licensed valuation company prepares a report. The bank calculates the loan-to-value ratio from the amount in the report, not from the contract price.

5. Insurance. DASK is always mandatory. The bank also requires home insurance and often life insurance for the borrower.

6. The transaction at the land registry. The transfer of ownership and the mortgage in favor of the bank are registered on the same day. If the buyer does not speak Turkish, a sworn translator is required.

7. Payment to the seller. The bank transfers the loan amount to the seller, and the buyer pays their own contribution.

What costs are added to the price of the apartment

Euro amounts are converted at the Central Bank of Turkey exchange rate on October 6, 2026: €1 = TRY 55.19.

"The most common mistake is paying a deposit before the bank has named the loan amount. We advise getting pre-approval first and only then reserving an apartment. That way, you will not have to look for missing funds at the last minute," says a sales manager at Yekta Homes.

Who a mortgage in Turkey is not right for

• A buyer of an apartment under construction. Loans for such properties are granted less often and for a smaller share, so a developer installment plan is more convenient.
• Someone who already owns a home in Turkey. Under BDDK rules, the permitted loan-to-value ratio is reduced by 75% if the borrower, their spouse or minor children already own a home: for an apartment worth less than TRY 5 million, the bank can lend no more than 17.5–22.5% of the valuation instead of 70–90%.
• Someone not ready to pay in lira. Loans are issued only in lira, and if your income is in another currency, the payment depends on the exchange rate.

Each of these situations can be foreseen. In such cases, buyers usually choose a developer installment plan or a smaller apartment without a loan.

Frequently asked questions

What documents does a foreigner need for a mortgage in Turkey?

A passport with a translation, a tax number, an income certificate, bank statements, the seller's TAPU, the building's occupancy permit (iskan), a valuation report and a DASK policy.

What is the mortgage rate in Turkey?

As of October 2, 2026, 2.87–3.24% a month, or about 34–39% a year. Loans are issued in lira.

What share of the price will the bank lend?

Under BDDK rules, for homes worth less than TRY 5 million, up to 70–90% of the valuation, depending on energy efficiency. A bank may require a larger down payment from a foreigner.

Can I repay a mortgage early?

Yes. On a fixed-rate loan, the bank may charge no more than 2% of the amount repaid early.

If you live and earn outside Turkey, read our separate guide on whether a Turkish mortgage is realistic for buyers living abroad: what to consider when opening an account, transferring money and proving your income.