A mortgage in Greece for foreigners in 2026: rates, down payment, and whether a non-resident can qualify

Can a foreigner get a mortgage in Greece at all

Let's start with what people most often Google: can a foreigner who neither lives in the country nor holds a Greek residence permit get a mortgage in Greece? The answer is yes. Major Greek banks officially work with foreigners and even with non-residents, offering dedicated mortgage products for overseas buyers. The most active lenders to foreign clients are Eurobank, Alpha Bank, Piraeus Bank and the National Bank of Greece (NBG) - they have international departments and English-language support.

But there is a gap between the formula "the bank lends to a foreigner" and actual approval. Greece went through a severe banking crisis and has lent cautiously ever since. The further the borrower is from the country, the higher the requirements. For an EU citizen with a local salary the terms are one thing; for a non-resident from a third country they are markedly stricter: a larger down payment, a shorter term, and more thorough scrutiny of income and the origin of the money.

It is important to distinguish two concepts from the outset. Resident foreigner - someone who lives in Greece, holds a residence permit and has local income; the bank treats them almost like a citizen. Non-resident foreigner - someone who buys a home while remaining a tax resident of another country. It is this second category that raises most of the questions about a mortgage in Greece for non-residents, and it is the one we will discuss in the most detail.

Resident vs. non-resident: how the terms differ

The main fork in the road is your status. It determines the loan amount, the term and the very likelihood of approval. Let's gather the key parameters in a table so the difference is clear. These are indicative 2026 ranges - a specific bank may move the figures to fit the borrower's profile.

The conclusion is simple: a non-resident will be offered less, over a shorter term and under closer scrutiny. This is not discrimination but risk management - it is harder for a bank to recover a debt from someone living in another jurisdiction, so it builds in a margin of safety through a high down payment.

Down payment: how much of your own money you need

The down payment is the part of the property price you pay out of your own pocket; the bank provides the rest. Its size follows directly from the LTV ratio (loan-to-value, the ratio of the loan to the value of the property). If the bank is willing to finance 65%, that means you put in 35% yourself.

Real 2026 benchmarks for foreigners:

• Residents with local income - a down payment from 20-30%; in a favorable case the bank covers up to 70-80% of the price.
• Non-residents - the down payment usually starts at 30% and in practice more often runs to 35-50%. Conservative banks finance non-residents only 50-65% of the price.
• Calculation base - LTV is calculated not from the contract price but from the lower of two figures: the purchase price or the bank's valuation of the property. If the bank's appraiser comes in below what you are paying the seller, you make up the difference yourself as well.

And that still isn't all of the money you'll need up front. On top of the down payment, budget 10-15% for related costs: the property transfer tax (3.09%), the notary, a lawyer, registration, the valuation and property insurance. In other words, a non-resident's real need for cash in hand is the down payment plus this "cushion" of costs. We break down the cost structure of the deal itself in detail in our guide on how to buy property in Greece.

Greek mortgage rates: Euribor, spread and fixed

Now about the cost of money. Greek mortgage rates in 2026 come in two types - variable and fixed - and it is important to understand how each works.

Variable rate is tied to the Euribor index - the eurozone interbank rate, which moves in line with ECB policy. To it the bank adds its own spread (margin) and a small mandatory levy under Greek Law 128/1975. The formula looks like this: rate = Euribor (3-month) + bank spread + levy. As of February 2026, the three-month Euribor stood at around 1.98%. The spread for a non-resident is usually higher than for a local client, so the effective variable rate often lands in the 4.5-6% per annum range.

Fixed rate is locked in for an initial period - 3, 5, 10 or 15 years. Here the banks' marketing offers start at roughly 2.7-2.9% (Alpha Bank, Eurobank), but these are entry rates for the strongest profiles; the actual rate for a non-resident, after risk assessment, will be higher.

• Variable - cheaper at times of low Euribor, but you bear the interest-rate risk: if the index rises, so does your payment.
• Fixed - more expensive at the outset, but the payment is predictable for years ahead; convenient for budgeting.

Treat the figures as indicative: the bank quotes a final rate only after assessing your profile - your income, down payment, the property and your country of tax residency.

Loan term and age limits

The loan term is the second factor, after the down payment, that sharply distinguishes a non-resident from a local borrower. Formally, Greek banks lend for terms of up to 25-30 years, but that is the ceiling for residents with stable local income. Non-residents are usually cut back to 15 years - the bank does not want to hold long-dated risk on a borrower from another jurisdiction.

Age restrictions also apply, and they are fairly strict:

• Minimum age of the borrower - usually from 21-25 years.
• Maximum age at the end of the loan - the loan must be fully repaid by a certain age. Under a common approach, the younger borrower must be no older than 75 on the date of the final payment, and at some banks the repayment ceiling is even lower.

What this means in practice: the older the borrower, the shorter the available term, and a shorter term on the same amount means a higher monthly payment. For a buyer approaching retirement age, this can prove a decisive constraint. So age and term should be worked out at the very start, before choosing a property - otherwise you may fall in love with an apartment for which the bank won't offer a comfortable payment.

Documents and income requirements

A Greek bank lends to the borrower, not the property, so the central question is how you will prove your income and ability to repay. The document package for a foreigner is broader than for a local, because every foreign paper must be translated into Greek and certified (notary, apostille).

The basic set:

• AFM - the Greek tax number, mandatory for any property transaction and for a mortgage; issued free of charge by the tax office.
• A Greek bank account - payments and loan servicing run through it.
• Passport and proof of residential address abroad.
• Proof of income. For an employee - tax returns for the past 2-3 years and a letter from the employer stating the hire date and net income; for a business owner - returns for 1-2 years and company financials; for a retiree - a certificate from the tax office, a copy of the pension ID and pension statements for recent months.
• Bank account statements - usually for the past 6 months, so the bank can see the flow of funds.

A separate, strict criterion is the the debt-service ratio (debt-to-income): the sum of all your monthly obligations together with the new mortgage payment generally must not exceed 30-35% of your net monthly income. If you are already servicing loans in your home country, that will reduce the amount available in Greece. The final list is issued by each bank individually, so it is best to assemble your documents for a specific institution.

How a mortgaged deal unfolds: step by step

A mortgaged purchase in Greece is a chain of two parallel processes: loan approval and legal due diligence on the property. If they are not synchronized, you can lose both your deposit and your time. The sequence works like this:

• Step 1. Pre-approval. Before searching for a property, it is worth getting an indication from the bank of the amount and rate available for your profile. This immediately frames your budget and spares you properties the bank won't finance.
• Step 2. AFM and a bank account. You obtain a tax number and open a Greek bank account - without them you cannot move forward.
• Step 3. Choosing a property and paying a deposit. You sign a preliminary agreement and pay a deposit. Already at this point it is important to know the bank's limits on term and LTV.
• Step 4. Legal due diligence. The lawyer verifies clean title, the absence of debts and encumbrances, and the legality of the structures. In parallel, the bank commissions a valuation of the property.
• Step 5. Approval and registration of the charge. The bank approves the loan, and a mortgage (charge) is registered on the property in the bank's favor.
• Step 6. The notarial contract. At the notary, the main purchase contract is signed, payment is made, and the property is registered in the buyer's name.

For a non-resident, two bottlenecks are critical: legalizing foreign documents (translations, apostilles) and the compliance check on the source of funds. Both stages lengthen the deal, so build in a time buffer and keep your deposit protected by the terms of the preliminary contract. Legal support here is not a luxury but a way to avoid losing money in an unfamiliar market.

Mortgage terms for a foreigner in brief: the final checklist

To keep all the key parameters in one place, let's gather the terms of a mortgage in Greece for foreigners into a concise 2026 checklist. This is the minimum you should check against before your first conversation with a bank.

• Availability. Foreigners and non-residents can get a mortgage; the most active lenders are Eurobank, Alpha Bank, Piraeus Bank and NBG.
• Down payment. For a non-resident - roughly 30-50% of the price plus 10-15% for the deal's costs.
• LTV. The loan usually covers 50-70% of the lower of the two figures (price or the bank's valuation).
• Rate. Variable = Euribor + spread + levy; fixed - from ~2.7-2.9% on the best offers, effectively often 4.5-6% for a non-resident.
• Term. For a non-resident - usually up to 15 years, with an age limit on repayment (a benchmark of up to 75 years).
• Debt load. Payments on all loans - no more than 30-35% of net income.
• Mandatory. AFM, a Greek bank account, translated and certified income documents, and property insurance.

If you don't yet "qualify" on some point - say, the down payment falls short or your debt load back home is high - that is not a verdict but a problem to be solved through preparation. It is better to build a strategy in advance than to be refused after you have already paid a deposit.

Mortgage and Golden Visa: why the borrowed portion won't count

This is the most important and most underestimated nuance for anyone hoping to combine a mortgaged purchase with an investor residence permit. The logic looks tempting: buy a pricier property, put down part in cash, cover the rest with a mortgage, and get the Golden Visa. In practice it doesn't work that way.

Program The Greek Golden Visa requires the investment threshold to be met from the applicant's own funds. The money must come from an account in your own name, and borrowed funds - a mortgage, an installment plan, a pledge or a loan from abroad - do not count toward the threshold. In other words, you cannot finance the portion that meets the program's minimum threshold with borrowed money.

What this means in numbers:

• The 2026 property thresholds are 250,000 € (only the conversion of commercial into residential property or the restoration of a listed building), 400,000 € (the standard in most regions) and 800,000 € (premium zones: Attica, Thessaloniki, Mykonos, Santorini, the larger islands).
• The entire amount up to the threshold must be covered with your own money and its lawful origin confirmed.
• In theory a mortgage can be used for part of the price above the threshold - but not for the threshold itself. Be sure to check this point on a case-by-case basis; interpretations and practice change.

The practical takeaway: a mortgage and a Golden Visa are about different scenarios. If your goal is specifically an investor residence permit, count on covering the threshold from your own funds. If your goal is simply to buy a home or an income property to live in, a mortgage is appropriate. And it is best to check the ongoing costs of holding the property in advance against our review of property taxes in Greece.

A mortgage in Greece for citizens of Russia and the CIS

Now for the most sensitive question. Since 2022, Greek banks have tightened their compliance around Russian clients, and this needs to be said plainly, without illusions. Russian citizenship does not formally prohibit buying property or obtaining an investor residence permit in Greece - these are lawful options. But when it comes to a mortgage, the reality is harsher: far from every bank is willing to lend to a Russian non-resident, and those that are require the source of funds to be as transparent as possible.

• Not all banks take it on. The lending decision is at the bank's discretion, and some institutions simply don't work with this category of borrower. Sometimes you have to approach several banks.
• Enhanced scrutiny of the origin of the money. You must document where the down payment and income come from: the sale of assets, salary, business or dividends - with supporting papers and legalization.
• No circumventing sanctions. All work is carried out strictly within the law: sanctioned persons and transactions are not serviced, and circumvention schemes are ruled out.

For Russian citizens, buying with your own funds often turns out to be the best option (especially if an investor residence permit is also on the table, where borrowed money doesn't count anyway), with a mortgage treated as an additional tool wherever a bank is willing to grant one. A detailed, practical review is in our guide on buying property in Greece for Russians. And always make sure the path you choose is fully legal - that is a baseline condition of everything we do.

Related costs and hidden charges

The rate and the down payment are only part of the picture. A mortgage in Greece comes with related costs that are easy to underestimate, yet they noticeably increase your starting budget. You need to count the whole up-front sum, not just the down payment.

• Property transfer tax - 3.09% of the property price (for resale property); a one-time payment at purchase.
• Notary and registration - drawing up the contract and entering it in the registry; depends on the property price.
• Legal support - verification of title and encumbrances; critical for a non-resident who cannot check everything in person.
• The bank's valuation of the property - mandatory for a mortgage, paid by the borrower.
• Insurance - the bank requires the property to be insured (at least against fire and natural disasters) for the entire term of the loan; life insurance for the borrower is often added.
• Bank fees - for reviewing the application and arranging the loan.
• The annual ENFIA tax - already at the ownership stage, not one-time, but it too must be built into the budget.

Altogether, the "add-ons" to the deal usually come to the very 10-15% above the property price we mentioned in the down-payment section. For a non-resident this means: to buy a home for 300,000 € with a mortgage, you need not only the down-payment money in hand but also this cushion for taxes and closing costs.

Should you take a mortgage or pay in full: pros and cons

A common question is whether a mortgage is needed at all if you have the cash to pay. There is no single answer - it all depends on your goals and the cost of money for you personally. Let's lay it out.

Arguments for a mortgage:

• There is no need to tie up all your capital in a single property - part of the funds stays free for other goals or investments.
• The bank runs its own check on the property (valuation, legal standing) - an additional quality filter.
• When Euribor is low, the cost of the loan can be below the yield on your other assets.

Arguments against (or why many pay in full):

• For the Golden Visa, the borrowed portion still does not count toward the threshold - an investor residence permit requires your own money.
• The bank offers a non-resident less, over a shorter term and at a higher rate - the overpayment can be significant.
• A mortgaged deal is longer and more complex: valuation, the charge, insurance, compliance.
• Short-term rental (Airbnb) of a Golden Visa property is prohibited - this limits the "pay off the mortgage with rental income" scenario for investment buyers.

There is no universal recipe: for an investor pursuing a residence permit, own funds usually make more sense, while for someone buying a home to live in a mortgage can be a convenient tool. The decision should be made by calculating the full cost of money and your tax circumstances.

We'll help arrange the mortgage and the deal in Greece

A mortgage in Greece for a foreigner is a chain linking the bank, the notary, the lawyer and the tax office, and every link has to be fitted together without missing deadlines or losing your deposit - especially if you are a non-resident and some documents will need to be legalized. We handle property purchases and Greek residence permits end to end: we match a bank to your profile, help with the AFM and a bank account, run the legal due diligence on the property and see the deal through to registration.

We calculate in advance the down payment and term realistically available to you, help gather and legalize your income documents, build a transparent source-of-funds trail, and synchronize loan approval with the legal due diligence on the property - so that your deposit and deadlines are protected. If you also have an investor residence permit in mind, we will show you how to correctly combine a mortgaged purchase with the program's threshold.

Discuss your situation with a BRIDGES GLOBAL expert - we will assess the down payment and term that are realistic in your specific case and show you how to correctly combine a mortgaged purchase with your residence-permit plans.

How to avoid mistakes with a mortgage in Greece: an expert's view

Over years of practice we have seen that foreigners are tripped up not by exotic causes but by the same recurring, typical miscalculations. Let's go through them so you don't lose your deposit and your time.

• Searching for a property before talking to the bank. People fall in love with an apartment, pay a deposit, and only then learn that the bank offers a non-resident less and over a shorter term. You should start with pre-approval.
• Counting only the down payment. They forget about the 10-15% for taxes and closing costs - and come up short at the moment it matters.
• The illusion of a mortgaged Golden Visa. The costliest mistake: expecting to meet the investment threshold with a mortgage. The threshold must be met from your own funds only.
• Underestimating how long document legalization takes. Translations and apostilles of foreign papers take weeks, not days.
• Weak preparation on the source of funds. Especially for Russian citizens - without a transparent origin of the money, the bank will simply refuse.

The main advice is to build your strategy before the deal, not on the fly. Before any step, check the current requirements on the official government portal gov.gr and work with support that stays in touch with the bank and the notary. Then a mortgage becomes a tool rather than a source of losses.

In summary: who can get a mortgage and on what terms

Let's sum up. A mortgage in Greece for foreigners in 2026 is a real but not unconditional tool. Can a foreigner get a mortgage in Greece? Yes. Will a non-resident be offered as much as a local? No. Be ready for a down payment of 30-50%, a term usually capped at 15 years, a rate at the level of Euribor plus spread, and thorough scrutiny of your income and the origin of your money.

Who a mortgage suits best:

• For those buying a home to live in or to let long-term who don't want to tie up all their capital in a single property.
• For borrowers with transparent, documented income and a low debt load back home.
• For buyers who have their own funds for the down payment plus a cushion for costs.

But if your main goal is an investor residence permit, keep the key point in mind: the program threshold is met from your own money only, and the mortgaged portion does not count toward it. In this scenario it makes more sense to buy with your own funds and use a loan at most for the amount above the threshold. To choose the right strategy, start by reviewing the program The Greek Golden Visa and how to calculate the full cost of the purchase in our guide on how to buy property in Greece. It is always worth checking current government procedures on the portal gov.gr.