How to Get a Mortgage in Turkey For a Foreigner?

How to Get a Mortgage in Turkey For a Foreigner? | Basic Apartment

Securing a mortgage for your Turkish property is a straightforward process once you've made the decision to purchase. Our expert team provides free consultation to guide you through this process. Here's how we assist you: Your initial step towards acquiring your dream property in Turkey is to apply for a mortgage. 

Which Documents are Required for Mortgage in Turkey? 

The documents required when obtaining a mortgage loan in Turkey form an important part of the application process. Typically, documents such as proof of identity or passport, proof of income or payslip, tax number, bank statements, title deed and title deed are required. Apart from these, you should also prepare the following documents:


  • Credit bureau record from your home country
  • Copy of a utility bill from your home country. (Should belong to last 3 months)
  • Proof of income. (You can get a salary statement from your company. If you have your own business, you need to have the last 3 months bank statement.)
  • Water or electric bill from the home country that proofs your home address
  • The title deed of property that you want to buy
  • If you are an employer you need to bring the official documents of the company such as company registration, proof of income and bank statement of last six months.


The complete and accurate submission of all these documents ensures that the mortgage loan application is processed quickly and smoothly. For this reason, it is very important that you prepare all of the documents listed above.

How to Get a Mortgage in Turkey as a Foreigner?

There are 7 steps you need to follow to get a mortgage as a foreigner in Turkey. As a foreigner residing in Turkey, if you want to buy property and own your own home, you first need to prepare a mortgage plan. These 7 steps will facilitate the process of foreigners acquiring property in Turkey and guide you on your way to becoming a property owner.

Get All The Required Documents Ready.

You will need to submit the documents listed above, which help the bank to know your income and debts. These documents are important for the evaluation of your loan application and must be completed correctly. Proper documentation of your income and debts helps the loan process to go smoothly and quickly. Therefore, it is important that you gather the necessary documentation prior to applying.

Open Bank Account

Opening a bank account in Turkey is quite easy. A utility bill, tax number and passport are enough to open a bank account. These documents are the basic requirements needed to open your account and will help you complete the process quickly and smoothly. The process of opening a bank account in Turkey usually consists of a few simple steps and allows you to proceed with these documents.

Make Your Application to The Bank

Once you have submitted your documents to the bank, the bank will check whether you are eligible for a mortgage. Usually this process takes 3 days. Please note that interest rates may vary and it is therefore important to find out the current interest rates. It is important that you follow the information provided by the bank during the evaluation and approval of your application.

Choose Your Property

It's time to find your dream property in Turkey. With Turkey offering a wide range of options to find a residential or investment property that matches your specifications, take your time to choose the one that suits you best. Whether you are looking for a modern apartment in the city center or a peaceful holiday home in the seaside towns, you can find the ideal property for you in various regions of Turkey. Working with professional real estate consultants can help you find the property that best suits your specifications.

The Bank Will Check the Properties Value

The bank will send an appraiser to obtain a property valuation. This step is an important part of the mortgage process because the bank requires an expert valuation to determine the true value of the property to be considered for a mortgage. The appraiser will assess the current market value and future potential of the property and report back to the bank. This appraisal process is done to ensure the safety of both the bank and the applicant.

Mortgage Completion and Sign The Contract

Meet at the bank and sign the mortgage documents. Before taking out a mortgage in Turkey, you need to take out insurance for the property. In the final step of the mortgage process, you can complete the mortgage process by reviewing and signing the documents presented by the bank. However, to ensure the safety and protection of the property, it is important that you take out an appropriate insurance policy for the property before taking out a mortgage. This insurance protects against possible risks and secures your property.

Get Your Title Deed

It is time to meet at the land registry office. At this meeting, the bank's lawyer, the seller and an interpreter will be present. Title deed procedures ensure the formal transfer of ownership of the property. This important step takes place when all parties come together to sign the necessary documents and complete the transactions. During the title deed process, the presence of the bank's lawyer and an interpreter helps to ensure that the transactions are carried out correctly and smoothly.

If you don't want to get a mortgage, some construction companies offer installment payments. The payment plan may go up to 36 months. According to the agreement, down payment can start from 20 % of property value. Basic Apartment real estate is working with reliable companies that are offering installment payments. For more information please contact us.

Questions About the Mortgage in Turkey

Can I Get a Mortgage in Turkey?

Yes, If you can buy property in Turkey you can also get a mortgage in Turkey. Except for a few countries Syria, North Korea and Cuba. Click here to see the list which nationalities can buy property in Turkey.

How Long Does it Take to Get a Mortgage in Turkey?

It takes about one week to complete the mortgage in Turkey.

How Much Can I Borrow for a Mortgage in Turkey?

You can get 50% of the valuation report. Usually, the valuation report is 20% less than market price so that means you can get 40% of the property price.

How Long is The Mortgage Period?

The mortgage cannot be less than 1 year and a maximum of 10 years.

Is Buying a House in Turkey a Good investment?

Yes, buying a house in Turkey is a good investment. Because Turkey is a thriving country, affordable property prices, and a cheap cost of living.

Can I Get a Mortgage From an Islamic Bank in Turkey?

Yes, There are Islamic banks in Turkey where you can get a mortgage.

Still have questions?
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