Authored by the expert who managed and guided the team behind the Turkey Property Pack
Everything you need to know before buying real estate is included in our Turkey Property Pack
Yes, foreigners can get mortgages in Turkey in 2026, but there are strict rules, high interest rates, and large down payment requirements you need to know about.
Turkish banks do lend to foreign buyers, though the process is more demanding than it is for locals.
We constantly update this blog post to reflect the latest regulations, interest rates, and bank policies in Turkey.
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 Turkey.
Can foreigners get a mortgage in Turkey right now?
Can a foreigner get a residential mortgage in Turkey right now?
Yes, foreigners can get residential mortgages in Turkey in early 2026, but approval is not automatic and depends on meeting specific conditions set by both regulators and individual banks.
Foreigners who hold a Turkish residence permit (ikamet) or work permit typically have the easiest access to mortgages in Turkey because banks can verify their local address and income more easily.
The most common restriction banks impose on foreign applicants in Turkey is a lower loan-to-value ratio, meaning you will need a larger down payment than a Turkish citizen would.
By the way, we have a whole document dedicated to mortgages for foreigners in our property pack about Turkey.
Can I get a mortgage in Turkey without residency?
Getting a mortgage in Turkey without residency is possible, but it is significantly harder because banks apply stricter checks and offer less favorable terms to non-residents.
Residence permit holders, work permit holders, and even non-residents can technically qualify for a mortgage in Turkey, though each category faces different requirements and approval rates.
Banks most commonly impose lower maximum loan amounts and require larger down payments (often 50% or more) from applicants without permanent residency in Turkey.
By the way, we've written a blog article detailing residency and citizenship options that exist when you buy property in Turkey.
Do banks require a local work contract in Turkey right now?
Banks in Turkey do not strictly require a local work contract, but having one makes approval much faster and easier because it provides verifiable income they can confirm directly.
If you do not have a local work contract, Turkish banks typically accept foreign employment contracts, payslips, tax returns, and bank statements as alternative proof of income, though these often need to be notarized or apostilled.
When a local work contract is present, banks in Turkey usually prefer to see at least 6 to 12 months of employment history with the same employer before approving a mortgage.
Can self-employed foreigners qualify for a mortgage in Turkey?
Yes, self-employed foreigners can qualify for a mortgage in Turkey, but they face a higher documentation bar and often need to provide larger down payments to compensate for income variability.
Banks in Turkey typically require self-employed applicants to show at least 1 to 2 years of tax returns and business bank statements to prove stable income.
Is foreign income accepted for mortgages in Turkey right now?
Yes, Turkish banks often accept foreign income for mortgage applications, but approval depends heavily on the currency stability, documentation quality, and your ability to reliably service payments in Turkish lira.
When you earn income abroad, banks in Turkey typically require official payslips, employment contracts, tax returns, and several months of bank statements, often with notarized or apostilled translations.
Can I buy a primary home (and an investment property?) with a mortgage in Turkey as a foreigner?
Foreigners can obtain a mortgage for a primary home in Turkey relatively easily compared to investment properties, as banks view a home you plan to live in as a lower-risk purchase.
Getting a mortgage for an investment property or second home in Turkey is materially harder because regulators require banks to apply a 75% reduction to the allowed loan-to-value ratio if you already own property.
If you're buying for investment, you might want to check our blog article about buying and renting out in Turkey.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Turkey 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 Turkey?
What minimum monthly income do I need in Turkey as of 2026?
As of early 2026, there is no single minimum monthly income number because Turkish banks calculate your required income based on the loan amount and their affordability cap, typically around 40% of your net income going to mortgage payments.
Most approved foreign borrowers in Turkey realistically earn at least 380,000 TRY per month (roughly 10,500 USD or 9,800 EUR) if they are borrowing a meaningful amount, though smaller loans require proportionally less income.
The minimum income requirement in Turkey scales directly with your loan amount, so if you borrow less or put down a larger deposit, you can qualify with lower monthly earnings.
Yes, banks in Turkey do allow combining household incomes from multiple applicants (such as spouses) to meet the minimum threshold, which can make a significant difference for couples buying together.
What debt-to-income limit do banks use in Turkey right now?
Most mainstream banks in Turkey cap your total debt payments (including the new mortgage) at around 40% of your net monthly income, though some apply stricter limits for non-residents or higher-risk profiles.
When calculating your debt-to-income ratio, Turkish banks include all existing debts such as credit card minimum payments, car loans, personal loans, and any other outstanding mortgage payments.
Do I need a local credit score in Turkey right now?
You do not always need a long Turkish credit history to get a mortgage, but having one significantly helps because banks can pull local credit signals to assess your reliability.
Turkish banks can accept foreign credit reports as supporting evidence, but they typically do not replace local checks, so building even a short banking relationship in Turkey (deposits, utility payments) can improve your chances.
Do banks require a local guarantor in Turkey right now?
Turkish banks usually do not require a local guarantor for standard salaried borrowers, preferring instead to adjust loan terms (lower LTV, more cash required) rather than add complexity.
Banks in Turkey are most likely to request a guarantor when your income is from abroad and difficult to verify, when you are a non-resident, or when the bank wants extra security on a borderline application.
If a guarantor is required in Turkey, they typically need to be a Turkish resident with stable income and a clean credit history, able to cover the loan payments if you default.
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How much cash do I need upfront in Turkey as of 2026?
What's the minimum down payment in Turkey right now?
The minimum down payment for foreign buyers in Turkey is determined by BDDK regulations, which set maximum loan-to-value ratios based on property value and energy class, but in practice foreigners typically need 35% to 50% down or more.
Across different banks and buyer profiles in Turkey, realistic down payment requirements range from 35% for resident foreigners with strong documentation to 50% or higher for non-residents.
You might secure a lower down payment requirement in Turkey if you are a resident with Turkish banking history, have stable local employment, and are buying a newer property with an A or B energy certificate valued under 5 million TRY.
What loan terms can I realistically get in Turkey as of 2026?
What mortgage interest rates are typical in Turkey as of 2026?
As of early 2026, typical mortgage interest rates for foreigners in Turkey range from approximately 40% to 55% annually, reflecting the high policy rate environment with the CBRT repo rate at 38%.
The factors that most significantly influence your interest rate in Turkey include your residency status, income verification strength, down payment size, and the specific bank's current campaigns and risk appetite.
Yes, foreigners typically receive higher interest rates than Turkish citizens in Turkey, often 3 to 10 percentage points higher depending on residency status and documentation quality.
The interest rate is one of the factors we look at when assessing whether now is a good time to buy a property in Turkey.
Are fixed-rate mortgages available in Turkey right now?
Yes, fixed-rate mortgages are available to foreigners in Turkey, with major banks like Garanti BBVA explicitly offering fixed, variable, and mixed-rate structures in their product menus.
Turkish banks typically offer fixed-rate periods that lock your rate for the full loan term, though "fixed" in Turkey means your payment is protected but bank campaigns and new offers can change quickly.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Turkey. 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 Turkey right now?
What financial profile gets "yes" fastest in Turkey right now?
The ideal financial profile that gets mortgage approval fastest in Turkey in early 2026 is someone with a Turkish bank account history, stable salaried employment, a down payment above 40%, and a property with clean title in an established district.
Banks in Turkey consider an income of at least 380,000 TRY per month (around 10,500 USD or 9,800 EUR) with a debt-to-income ratio under 35% as ideal for fast approval.
Employment as a salaried worker with at least 12 months of continuous history with the same employer is most favored by banks in Turkey, as it shows stability and makes income verification simple.
A down payment of 40% to 50% or more typically signals a strong applicant profile in Turkey, as it puts you well below regulatory LTV limits and reduces the bank's risk.
We give more detailed tips in our pack covering the property buying process in Turkey.
What mistakes make foreigners get rejected in Turkey right now?
The most common mistake that leads to mortgage rejection for foreigners in Turkey is trying to borrow at the maximum allowed loan-to-value ratio, especially on higher-value properties where regulatory caps step down sharply or even to zero.
The financial red flag that most often disqualifies foreign applicants in Turkey is having a currency mismatch where you earn in foreign currency but cannot clearly demonstrate how you will reliably service Turkish lira payments over time.
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Which banks say yes to foreigners in Turkey right now?
Which banks are most foreigner-friendly in Turkey as of 2026?
As of early 2026, the banks considered most foreigner-friendly for mortgages in Turkey include Yapı Kredi, Türkiye İş Bankası, and Garanti BBVA, all of which have dedicated pages and products for foreign buyers.
What makes these banks more accessible to foreign applicants in Turkey is their English-language servicing, published criteria for different nationality groups, and explicit mortgage offerings designed for non-Turkish citizens.
Which banks accept non-resident borrowers in Turkey right now?
Banks that accept non-resident borrowers for mortgages in Turkey include Yapı Kredi, Garanti BBVA, and İş Bank, though this is the most selective lending category with significant additional requirements.
These banks impose additional requirements on non-resident applicants in Turkey including lower maximum loan-to-value ratios (often requiring 50% or more down), enhanced documentation with notarized translations, and extended compliance checks for source of funds.
Do international banks lend more easily in Turkey right now?
International banks do not necessarily lend more easily to foreigners than local banks in Turkey, as the main constraints (high policy rates, strict LTV regulations, income verification) apply equally regardless of the bank's nationality.
Garanti BBVA (part of the BBVA group) is the main international bank with a strong presence offering mortgages to foreigners in Turkey, combining international banking standards with local market knowledge.
The main advantage of using an international bank like Garanti BBVA for a mortgage in Turkey is often better English-language support and potentially smoother processes for applicants with existing relationships in the bank's home country.
We made this infographic to show you how property prices in Turkey 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 Turkey, 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 |
|---|---|---|
| Central Bank of Turkey (CBRT) - Interest Rates | Turkey's official central bank record of policy rate history. | We used this to anchor current mortgage rate estimates. We translated the 38% policy rate into typical mortgage pricing ranges. |
| BDDK - LTV Caps Decision 10525 | The banking regulator's binding rule on mortgage loan-to-value limits. | We used this to explain minimum down payment requirements by law. We calculated how property value and energy class affect maximum borrowing. |
| BDDK - Second Home Restriction Decision 10656 | The regulator's official decision on tighter rules for existing homeowners. | We used this to explain why investment property mortgages are harder. We showed how the 75% LTV reduction affects second-home buyers. |
| Yapı Kredi - Banking for Foreigners | A major Turkish bank publishing explicit foreigner mortgage criteria. | We used this to cite real LTV limits and debt-to-income caps banks apply. We treated it as a reliable example of actual underwriting standards. |
| Türkiye İş Bankası - House Loan | A major bank explicitly offering housing loans to foreign nationals. | We used this to confirm that foreigners can borrow in practice. We referenced their product availability for resident foreigners. |
| Garanti BBVA - Mortgage Products | A major bank showing available mortgage structures. | We used this to confirm fixed and variable rate options exist. We referenced their product menu when explaining loan term choices. |
| Invest in Türkiye - Government Portal | The official government investment portal summarizing foreign ownership laws. | We used this to confirm foreigners can legally own property under Law 2644. We connected ownership eligibility to mortgage feasibility. |
| TURKSTAT - Turkish Statistical Institute | Turkey's official statistics agency for inflation and economic data. | We used this to anchor inflation context (around 31% in late 2025). We connected inflation levels to why mortgage rates are so high. |
| Land Registry and Cadastre (TKGM) | The official authority managing title deed processes in Turkey. | We used this to explain how banks secure mortgages through title registration. We referenced it when discussing property collateral requirements. |
| Government Guide - Buying Property for Foreigners | A publicly issued government guide explaining legal limits for foreign buyers. | We used this to cite specific restrictions like area caps and restricted zones. We cross-checked its claims with the official investment portal. |
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