Our company provides a wide range of services to non-residents to help in getting a loan to be able to purchase property in Italy. The best credit terms are provided for buyers of primary market real estate in commissioned complexes, buyers of the secondary market, or the buyers of luxury real estate. The property must be registered in the registry of property under the status of a dwelling bought for mortgages with a permission for non-residents, which can be provided only by a residential real estate.

Italian mortgage lending is available in euros, U.S. dollars, Swiss francs and Japanese yen. At the moment, the floating loan rates in Italian Banks, which makes around 5 % per year, fixed – 7% at annual rate.

Now mortgages for non-residents are most popular in the following regions: Liguria Coast, Como Lake, Maggiore Lake, the region of Tuscany, Milan, Venice and in the outskirts. It is also possible to get a mortgage in other regions of Italy. Mortgage in the South of the country (Calabria, Sicily) is not possible.

General Bank requirements

It is important to know that Italian banks grant such type of loan only to non-residents of the country. The maximum loan can reach up to 60% of the of the assets, but 750,000 euros is the top sum, which can’t be exceeded. Mortgages are granted for a period from 5 to 20 years. Thus, under Italian law, there is an age limit – 75 years.

The borrower may sign a fixed or unfixed contract. When you make a loan Italian credit institutions require an income statement, a statement from the existing non-resident accounts to confirm the applicant’s income. Credit institutions pay attention to financial liabilities that the borrower has, including personal loans, bank loans, alimony obligations, etc. By law, the mortgage payment cannot exceed to more than 35% of the income of the person who took out a loan, or a total family income of the applicant.

Required documents

When applying for a mortgage to the bank the following documents must be submitted:

– The passport copy;

– Personal Identification Number

– CODICE FISCALE (is issued in Italy after signing a deposit agreement  at the consular center of Italy);

– Owner of a private company, is required to have proof of his/her company;

– Certificate of employment (if the client is employed) ;

– Payroll;

– A certificate of tax payment ;

– Bank account information ;

– The movement of funds in the bank account (account statement).

The following documents can be given as assurance:

– Proof of on time tax payment ;

– Information on the previous loan payments.

– In some cases, the bank may ask for the information (certificate) about family members, birth certificate or driver’s license ;

All documents must be translated into Italian and notarized at the Consulate of Italy.

As a rule a set of documents required by the bank is individual. There are general requirements, but you must be ready for additional terms and conditions.


The term of making decision to grant a mortgage takes about 3-4 weeks in Italian banks. 1.5 months will have to pass after the submission of the application until the finish line. It may also take about 6-7 weeks after the submission of the application to receive money.

Completion of the transaction

If a credit institution has made a positive decision, the home buying process is as follows: the seller and the buyer shall open accounts at the lending bank. The buyer has to deposit a sum of initial payment called “deposit” in Italy. At the next stage, the seller and the buyer sign a sales contract. After the signing of the contract  the bank will transfer the amount of the agreed loan to the seller. The transaction should be certified by a notary within 2-5 days. Once this procedure is completed, the seller can use the money listed in his account.

Additional expenses

In Italy, the mortgage deal is usually more expensive than usual ones due to the following expenses:

– Insurance of purchased property (deducted from the loan amount) and the optional insurance of a borrower’s life, (from 150-600 euros per year);

– Commission of the bank for loans – 0.5 % -1 % of the provided loan amount;

– Commission for application consideration costs 100-160 euros, which is deducted from the amount of the loan at its despatch ;

– Notarization of documents – 1-1.5% of the loan amount ;

– Tax for the mortgage registration – 0.25% of the loan amount if the purchased dwelling is bought by a resident as a first home, 2% is paid when buying a second home, non-resident rate is 2% of the loan amount.

The costs associated with the assessment of real estate are paid directly to the company, which will be about EUR 300.

Non-residents get their income outside of Italy, so it is necessary to supply documents proving the existence of these funds in the customer’s native country. All the documents are to be translated into Italian and notarized at the Consulate of Italy. Monthly mortgage of borrower’s income should be 3 times as big as the monthly loan payment. All documents must be translated into Italian and certified by the consulate of Italy.