Authored by the expert who managed and guided the team behind the Greece Property Pack
Everything you need to know before buying real estate is included in our Greece Property Pack
Yes, foreigners can get a mortgage in Greece, but the process requires more paperwork and patience than locals face.
Greek banks have become more open to international buyers in recent years, especially those with stable income and strong documentation.
We keep this article updated regularly so you always have fresh, accurate information about mortgage conditions in Greece.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Greece.
Can foreigners get a mortgage in Greece right now?
Can a foreigner get a residential mortgage in Greece right now?
Yes, some major Greek banks actively offer mortgages to foreigners and non-residents as of January 2026, though approval depends heavily on how well you can document your income and financial situation.
Foreigners with stable salaried employment, EU citizenship, or strong ties to Greece (such as existing bank accounts or property) typically have the easiest path to mortgage approval in the Greek market.
The most common condition Greek banks impose on foreign applicants is providing extensive documentation of income, including official tax returns and certified bank statements, because banks need to verify that your earnings are real, stable, and sufficient to cover loan payments.
By the way, we have a whole document dedicated to mortgages for foreigners in our property pack about Greece.
Can I get a mortgage in Greece without residency?
Yes, you can get a mortgage in Greece without being a resident, as several major banks like Eurobank have dedicated products specifically designed for non-residents living abroad.
Greek banks generally accept applications from permanent residents, temporary residents, work visa holders, and even complete non-residents, though each category faces different levels of scrutiny during the approval process.
When you apply without permanent residency in Greece, banks typically require extra documentation such as proof of foreign income, a Greek tax number (AFM), and sometimes a larger down payment to offset the perceived higher risk.
By the way, we've written a blog article detailing residency and citizenship options that exist when you buy property in Greece.
Do banks require a local work contract in Greece right now?
No, Greek banks do not always require a local work contract, especially if you are applying through a non-resident mortgage product designed for international buyers.
If you lack a Greek employment contract, banks in Greece will typically accept foreign employment contracts, official tax returns from your home country, and certified bank statements showing regular income deposits.
When a local work contract is present, Greek banks usually prefer to see at least 6 to 12 months of employment history with the same employer to confirm income stability.
Can self-employed foreigners qualify for a mortgage in Greece?
Yes, self-employed foreigners can qualify for a mortgage in Greece, but the approval process is slower and requires more documentation than for salaried employees.
Greek banks typically want to see 2 to 3 years of consistent tax returns and business accounts from self-employed applicants, which helps them verify that your income is stable and sustainable over time.
Is foreign income accepted for mortgages in Greece right now?
Yes, Greek banks do accept foreign income for mortgage applications, particularly through dedicated products for non-residents and international customers offered by major lenders like Eurobank and Alpha Bank.
When your income comes from abroad, Greek banks will typically require official tax documents from your country, certified bank statements, and sometimes currency risk assessments if your earnings are not in euros.
Can I buy a primary home (and an investment property?) with a mortgage in Greece as a foreigner?
Yes, foreigners can obtain a mortgage in Greece for a primary home, and the Bank of Greece even offers more favorable terms for first-time buyers, including higher loan-to-value limits of up to 90%.
Foreigners can also finance investment properties or second homes in Greece, though the regulatory caps are stricter with a maximum loan-to-value of 80% and a lower debt-to-income threshold of 40%.
If you're buying for investment, you might want to check our blog article about buying and renting out in Greece.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Greece versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the eligibility rules banks actually use in Greece?
What minimum monthly income do I need in Greece as of 2026?
As of early 2026, there is no fixed minimum income requirement in Greece, but your monthly debt payments cannot exceed 40% to 50% of your disposable income depending on whether you are a first-time or repeat buyer.
In practice, most approved foreign borrowers in Greece have monthly incomes of at least 2,000 to 3,000 euros (roughly 2,100 to 3,200 USD) to comfortably qualify for typical loan amounts.
The minimum income you need rises directly with the loan amount and property price, because Greek banks calculate affordability based on your monthly payment relative to your income rather than a flat threshold.
Greek banks do allow combining household incomes from multiple applicants, such as spouses or partners, which can help you meet the debt-to-income requirements for larger mortgages.
What debt-to-income limit do banks use in Greece right now?
Greek banks must follow binding debt-service-to-income (DSTI) limits set by the Bank of Greece: a maximum of 50% for first-time buyers and 40% for those purchasing a second or subsequent property.
When calculating your debt-to-income ratio, Greek banks include all existing monthly obligations such as credit card minimum payments, car loans, personal loans, and any other mortgage payments you already have.
Do I need a local credit score in Greece right now?
Greek banks use the national credit bureau called Tiresias to check your credit history, so if you have never borrowed or lived in Greece, you will likely have a thin or empty local credit file.
Banks in Greece may accept foreign credit reports as supporting evidence of your financial reliability, but these do not replace what lenders can verify through the Greek Tiresias system, so building a small local banking history can help your application.
Do banks require a local guarantor in Greece right now?
No, Greek banks do not typically require a local guarantor for foreign mortgage applicants with strong income documentation and sufficient down payments.
Banks in Greece are most likely to request a guarantor when your income is borderline, your documentation is incomplete, or your credit history is difficult to verify through standard channels.
If a guarantor is required, Greek banks typically expect that person to have stable income, a clean credit record in Greece, and sufficient assets to cover the loan if you default.
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How much cash do I need upfront in Greece as of 2026?
What's the minimum down payment in Greece right now?
The minimum down payment for foreign buyers in Greece is 10% for first-time buyers and 20% for those purchasing a second or subsequent property, based on the Bank of Greece's binding loan-to-value caps.
In reality, down payment requirements across Greek banks range from 10% to 40% depending on your residency status, income stability, and how conservative the individual bank's risk appetite is for international borrowers.
You may be able to secure a lower down payment if you have strong, verifiable income in euros, a clean credit history, and are purchasing through a bank with a dedicated non-resident mortgage program like Eurobank.
What loan terms can I realistically get in Greece as of 2026?
What mortgage interest rates are typical in Greece as of 2026?
As of early 2026, mortgage interest rates in Greece for foreigners typically range from about 3.5% to 4.8%, depending on whether you choose a fixed introductory period or a fully variable rate linked to Euribor.
The main factors that influence your interest rate in Greece include your down payment size, income stability, whether your income is in euros, and the length of any fixed-rate period you select.
Foreigners in Greece do not necessarily pay higher rates than locals, but non-residents with harder-to-verify income or currency risk may see rates at the higher end of the range or face stricter terms.
The interest rate is one of the factors we look at when assessing whether now is a good time to buy a property in Greece.
Are fixed-rate mortgages available in Greece right now?
Yes, fixed-rate mortgages are available to foreigners in Greece, with major banks like Piraeus Bank and Eurobank offering products that lock in your rate for an initial period before switching to a variable rate.
Typical fixed-rate period options in Greece include 3, 5, 7, and sometimes 10 years, after which the loan usually reverts to a floating rate based on Euribor plus a spread set by the bank.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Greece. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
How do I maximize approval chances in Greece right now?
What financial profile gets "yes" fastest in Greece right now?
The ideal financial profile for fast mortgage approval in Greece is a salaried employee with stable income in euros, minimal existing debt, a strong cash reserve, and clean credit behavior in any country where you have borrowed.
Greek banks consider a monthly income of at least 2,500 to 3,000 euros (about 2,700 to 3,200 USD) and a debt-to-income ratio well below the 40% cap as ideal for quick approval on typical loan amounts.
Banks in Greece favor applicants with at least 2 years of continuous employment with the same employer, or for self-employed applicants, 2 to 3 years of consistent business income shown in tax returns.
A down payment of 30% or more typically signals a strong applicant profile in Greece, as it reduces the bank's risk and shows you have significant financial resources beyond just the minimum required.
We give more detailed tips in our pack covering the property buying process in Greece.
What mistakes make foreigners get rejected in Greece right now?
The most common mistake that leads to mortgage rejection for foreigners in Greece is applying without a Greek tax number (AFM) and without having all income documents officially translated and certified, which creates delays and raises red flags for underwriters.
The financial red flag that most often disqualifies foreign applicants in Greece is having income in a volatile non-euro currency without any buffer or hedge, because banks see this as a repayment risk they cannot easily assess or control.
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Which banks say yes to foreigners in Greece right now?
Which banks are most foreigner-friendly in Greece as of 2026?
As of early 2026, the most foreigner-friendly banks for mortgages in Greece are Eurobank, Alpha Bank, and Piraeus Bank, all of which publicly advertise mortgage products designed for non-residents and international buyers.
What makes these Greek banks more accessible is that they have dedicated international customer desks, allow remote or proxy applications, and explicitly list the documentation requirements for foreign income on their websites.
Which banks accept non-resident borrowers in Greece right now?
Banks that explicitly accept non-resident borrowers in Greece include Eurobank (with a dedicated "mortgage loan for non-residents" product), Alpha Bank (which markets to buyers living in EU and non-EU countries), and Piraeus Bank (which works with international buyers through local counsel).
These banks typically require non-resident applicants in Greece to provide additional documents such as certified foreign income proof, a Greek tax number, and sometimes a larger down payment or extra cash reserves to offset the higher perceived risk.
Do international banks lend more easily in Greece right now?
No, international banks do not typically lend more easily than Greek banks for residential property purchases in Greece, because the collateral, registration, and enforcement processes are all Greek-specific and handled better by local institutions.
Very few international banks have a significant mortgage lending presence in Greece, so most foreign buyers work with Greek systemic banks like Eurobank, Alpha Bank, or Piraeus Bank that have dedicated foreigner programs.
The main alternative for buyers with complex profiles is to secure financing from a bank in their home country against existing assets there, then purchase the Greek property as a cash buyer, which can sometimes be simpler than navigating Greek underwriting requirements.
We made this infographic to show you how property prices in Greece compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Greece, we always rely on the strongest methodology we can and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Bank of Greece (Macroprudential Measures) | Greece's central bank sets binding mortgage lending rules. | We used it to state the official DSTI and LTV caps that all Greek lenders must follow. We also referenced it for the definition of first-time buyer status. |
| Eurobank (Non-Resident Mortgage) | Major Greek bank publishing its own foreigner product terms. | We used it as direct evidence that non-residents can get mortgages in Greece. We also cited it for typical loan structures and remote application options. |
| Alpha Bank (Foreigner Mortgage) | Major Greek bank with a dedicated product for foreign buyers. | We used it to confirm that EU and non-EU foreigners are eligible for Greek mortgages. We also referenced it for documentation requirements. |
| Piraeus Bank (Fixed-Rate Mortgage) | Major Greek bank with a clear fixed-rate mortgage product page. | We used it to show that fixed-rate options exist in Greece. We also cited it for typical loan terms and rate structures. |
| European Banking Authority (Loan Guidelines) | Sets EU-wide standards for how banks assess borrowers. | We used it to explain why banks require documented income and affordability tests. We also referenced it for underwriting practices on self-employed and foreign income. |
| Gov.gr (AFM Tax Number) | Greece's official government portal for administrative services. | We used it to confirm that a Greek tax number is required for property purchases. We also referenced it for the standard paperwork process. |
| AADE (Transfer Tax) | Greece's tax authority and source for property transfer taxes. | We used it to state the 3% transfer tax rate on property purchases. We also referenced it for budgeting total upfront cash needs. |
| Tiresias (Credit Bureau) | The national credit bureau used by all Greek banks. | We used it to explain what local credit history means in Greece. We also referenced it to advise on building a Greek banking footprint. |
| Bank of Greece (Economic Note) | Official BoG publication with recent mortgage rate data. | We used it to anchor current interest rate levels in Greece. We also cited it to validate the rate ranges mentioned in the article. |
| ECB Data Portal (Mortgage Rates) | European Central Bank runs harmonized rate statistics for all euro countries. | We used it to explain how mortgage rate data is collected and defined. We also cross-checked Greek rate levels against eurozone benchmarks. |
| IMF (Greece Macroprudential Paper) | Top international institution with transparent methodology. | We used it to explain why DSTI and LTV caps exist and how they protect borrowers. We also cited it to contextualize Greek banking conservatism. |
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