How get a mortgage for buying property in Italy

If buying a home in Italy appeals to you, you can apply for a mortgage: most Italian banks will give mortgages to non-residents, assuming they meet the general requirements. Whether you’re an Italian citizen living abroad or a foreigner, it’s likely that you will be asked to provide additional information about your status and your ability to repay the loan.

Do you need legal assistance about real estate law? Our team of italian real estate lawyers are ready to support you thanks to its expertise. Visit our contact page and contact us to get more informations!

Getting a mortgage in Italy as an Italian living abroad


You don’t have to be an Italian resident to apply for a mortgage in Italy: Italians resident abroad can get a mortgage if they are registered in A.I.R.E. (Register of Italians Resident Abroad). Registration is mandatory for all Italian citizens who transfer their residency abroad for a period of at least 12 months. Once you verify your registration, you will need to produce the documents requested by the bank, mainly regarding your financial stability and your current state of residence (for which you can forward a request at the Italian Embassy).

It is usually advisable to apply for a mortgage at an Italian bank also operating in your country of residence. This way you should be able to simplify and shorten the procedure, avoiding additional issues related to currency conversion.


Getting a mortgage in Italy as a foreigner


Besides the standard requirements, foreigners willing to buy property in Italy must produce specific certifications based on their status: for example, non-EU citizens are compelled to provide their residency permit, excepted in extraordinary cases (e.g.: international treaties, reciprocity of rights between Italy and the country of origin) which are usually examined on a case by case basis through the Foreign Ministry.


Requirements for getting a mortgage in Italy


Having reached the age of majority is the first prerequisite for applying for a mortgage in Italy. Although there is no age limit to forward the request, the maximum duration of the loan for people over the age of 60 is usually reduced to 15 years.

Another important precondition is earning a fixed and stable income, which shall be certified by an employment contract of indefinite duration. If you hold an atypical contract, you could still be eligible for financial aids.


Financial aids for buying property in Italy


Financial aids for the purchase of a first home are granted to both foreigners and Italians resident abroad, provided that they don’t own any property in Italy (and, in the case of foregneirs, have been residing in Italy for at least 3 years).

Furher facilitations are granted to people under the age of 35 or atypical workers, which can apply for dedicated mortgages and bank loans: these financial services don’t require the presence of a guarantor, since they usually leverage insurance policies that allow to cover the costs of monthly instalments in case of job loss.


Job loss, the search for a new job and other specific circumstances allow to interrupt the payment of instalments for a maximum period of 6 months. You can benefit from this facilitations no more than one or two times during the period of the loan.


Main requirements for getting a mortgage loan in Italy


The documents produced when applying for a mortgage in Italy will have to be certified and drafted in Italian. Non-EU citizens will need to convert any financial certification in Euros; in these cases, the exchange rate might influence (positively or negatively) the amount of the instalment.  


Let us know if we can help.


If you’re  in the process of buying an Italian property and need financing, our team of experienced italian real estate lawyers and other qualified professionals can assess your specific case circumstances, verify if you’re eligible for financial aids and help get your mortgage or loan at the most favorable conditions. Contact us for a free consultation.