Turkey offers bank mortgages and developer installments for both residents and foreign buyers. Terms, documentation, and maximum loan amounts vary by bank, buyer profile, and property valuation. Below is a practical summary to help you prepare.

Who can apply

• Turkish citizens and residents: broad bank options and terms.
• Foreign buyers: mortgages are available at selected banks, subject to valuation and local policy.

Typical loan terms

• Currency: mostly TRY-denominated mortgages; FX loans are limited.
• Tenor: commonly 5–10 years depending on bank and profile.
• Loan-to-Value (LTV): determined by the bank’s appraisal; foreigners often qualify for lower LTVs than residents.
• Interest: variable by bank and market; request an up-to-date quote.

Required documents (common)

• Passport/ID and biometric photo
• Turkish tax number (Vergi Numarası)
• Proof of income (salary slips, tax returns, bank statements)
• Address proof (utility bill or residency document)
• Property appraisal report (SPK valuation) arranged via bank

Process at a glance

1. Pre-qualification: discuss budget, LTV, and estimated rates with the bank.
2. Open a Turkish bank account and obtain a tax number if you don’t have one.
3. Submit documents; bank orders independent valuation of the property.
4. Final approval: the loan amount is set based on the valuation report.
5. Signing and disbursement: earthquake insurance (DASK) is typically required before deed transfer.

Fees and mandatory items

• Appraisal (valuation) fee
• Loan allocation/processing fee (varies by bank)
• DASK earthquake insurance (mandatory) and property insurance
• Title deed taxes and notary fees (paid at transfer)

Money transfers

International buyers typically fund down payments and closing via SWIFT transfers in foreign currency. Banks may request source-of-funds documentation. Currency conversion and payment documentation for the title office are handled in coordination with your bank and notary.

Alternatives to bank mortgages

• Developer installment plans: staged payments during constrinsuction or short-term post-handover schedules.
• Personal loans or home equity from your home country (if applicable).