Mortgage Loan for Non-Residents in Greece
Mortgage Loan for Non-Residents in Greece
What a Foreign Buyer Can Actually Borrow in 2026
Yes, you can get a mortgage in Greece without being Greek. You don't even need to live here. But the deal is not the one a Greek buyer gets.
You borrow less. You borrow for fewer years. And the headline interest rate is only part of the total cost.
We took the published terms of one major Greek bank's mortgage for non-residents and put them in plain numbers. Other banks set their own terms. Here is what a foreign buyer can actually borrow.
How much you can borrow: 65%
If you are not a Greek or Cypriot citizen, the loan can reach up to 65% of the property's value. Greek and Cypriot citizens can get up to 80%.
Two more limits sit on top of that:
- The loan can never be more than the price written in your purchase agreement.
- The value is set by an independent certified engineer who inspects the property. Not by the seller, not by the asking price.
Your income and credit history also decide the final figure. The minimum loan is €10,000.
How long: 15 years, or 20 if you live in Israel
- Greek or Cypriot citizen: up to 30 years
- Resident of Israel: up to 20 years
- Any other non-Greek, non-Cypriot citizen: up to 15 years
One rule applies to everyone: when the loan ends, the youngest borrower can't be older than 75.
The Israel line is worth a second look. It gives Israeli residents five more years than the standard 15-year term for other non-Greek, non-Cypriot buyers. That means a lower monthly payment on the same loan. They are also the only non-Greek, non-Cypriot buyers who can lock a fixed rate for 20 years.
Rates: fixed first, then floating
For non-Greek, non-Cypriot buyers, the bank's published fixed rates are:
- 3 years: 2.90%
- 5 years: 3.50%
- 7 years: 3.80%
- 10 years: 3.90%
- 15 years: 4.20%
After the fixed period ends, the loan switches to a floating rate. That is the 3-month Euribor plus a margin. The margin stays the same for the whole loan and is set at final approval.
You can also stay fixed for the whole term. In that case the term runs at least one month longer, and that last payment is at the floating rate.
No penalty if you pay the loan off early, in part or in full. Fixed or floating.
The costs beyond the headline rate
A levy on top of the rate. Greek law (Law 128/1975) adds 0.12% to your interest rate. If the property is for investment, it is 0.60%. So if you are buying to rent out, count on the higher one.
Mandatory insurance. If the loan is secured on the property, you must insure it against fire, earthquake and weather. You can pick any insurer that operates in Greece.
Due diligence. In the bank's own example, a one-off €750.
The bank's representative cost example: €100,000 at a 4.20% fixed rate for 20 years. Interest comes to €49,513.88, insurance to €2,360, due diligence to €750. The true annual cost (APRC) is 4.69%, not 4.20%.
One catch. That example is a 20-year fixed loan. It does not represent the standard terms available to most non-Greek, non-Cypriot buyers.
A real example: a €300,000 villa
Say you are a foreign buyer and the engineer values the villa at its €300,000 price.
- Property price: €300,000
- Maximum loan (65%): €195,000
- Your own money, before purchase costs: €105,000
- Monthly payment, 15 years, fixed at 3.90% for the first 10: about €1,430
The monthly figure is our own calculation. It does not include the levy or insurance. For the last 5 years the rate turns floating, so the payment will move with Euribor.
And the €105,000 is not the end of it. Taxes, notary, lawyer and agent fees come on top. That is why we give every buyer a written, line-by-line cost estimate before any commitment.
Paperwork: you will need a Greek lawyer
If you are not a Greek citizen, you need a lawyer registered with a Greek bar association to act for you with a power of attorney. Greek citizens need one only if they can't stay in Greece until the process is complete.
Pre-approval can take a few days once all documents are in. That works if your total loans, this one included, don't exceed €600,000.
The money is paid in one go for a ready home. For a home under construction or a renovation, it is paid in stages as the work moves forward.
Before you sign anything
- Plan on at least 35% of the price from your own pocket, plus purchase costs.
- Know which levy applies to you: 0.12% for a home, 0.60% for an investment.
- Get the engineer's valuation early. If it comes in under the price, your loan shrinks with it.
- Check your age against the term. The youngest borrower must be no older than 75 when the loan ends.
- Rates move. We check them with you before you commit.
Planning to buy a property in Greece with a mortgage? Contact Ktimatoemporiki to discuss your purchase budget and get guidance on the financing process.