A mortgage in Turkey (konut kredisi) is a long contract attached to a specific property. English-speaking buyers often underestimate two things: the down payment and fees outside the interest rate, and the document chain (title, appraisal, insurance) that has to close before the bank releases funds. This guide maps that chain without selling a bank or a development.

Not a loan offer. Not legal advice on title. Confirm current ratios and fees with the lender and a licensed advisor.

What the product is

Konut kredisi is a home loan secured by a mortgage (ipotek) on the property. The bank cares about:

  1. You: income, existing debts, credit file in Turkey
  2. The property: title (tapu), appraisal (ekspertiz), and whether the unit can be mortgaged
  3. The numbers: loan-to-value, installment vs documented income, and fees

If either the person or the property fails the check, the file does not close, even if the other side looks strong.

Typical stages

  1. Pre-check: income, existing loans, rough budget
  2. Property identified; seller and buyer agree a price
  3. Application + documents
  4. Appraisal ordered by the bank
  5. Credit committee / system decision
  6. Insurance (building, sometimes life) and mortgage registration at the land registry
  7. Disbursement to the seller according to the bank’s payment instruction

Skipping the pre-check is how buyers fall in love with a listing they cannot finance.

Documents you should expect

  • ID (TC Kimlik / foreigner ID) and, if relevant, residence permit
  • Income: payslips, SGK, or company/tax documents
  • Bank statements if the lender asks for extra affordability evidence
  • Property: tapu photocopy, building occupancy documents as required, seller ID

Foreign buyers should confirm with the bank before paying a large deposit whether that branch’s product can be used for that title type and that district. Not every listing is mortgageable in the way a brochure implies.

Costs beyond the advertised rate

Ask for a written breakdown that includes:

  • Allocation / file fee (dosya masrafı) if charged
  • Appraisal fee
  • Mortgage registration costs at the land registry
  • Compulsory insurance premiums
  • Early repayment rules if you may sell or refinance

Compare installment amount at the same loan size and term, not only the headline rate on a campaign landing page.

Down payment and LTV

Loan-to-value caps change with regulation and with the bank’s appetite. Treat any percentage you read on a blog as illustrative. Your number is the one on the bank’s current product sheet and the appraisal, not the asking price alone. If the appraisal comes in below the agreed price, you fund the gap in cash.

Timing

A clean salary customer with a straightforward title can still spend weeks in appraisal and registry. New-build projects add developer paperwork. Do not book a moving truck against a verbal “it should be fine.”

If you are an expat

Income earned outside Turkey, or a short residence history, makes the file harder, not impossible, but harder. Banks want income they can verify in a format they already use. Translate and notarize only if the lender asks; do not invent a document pack from another country’s mortgage checklist.

Disclaimer: General information only. Not financial, legal, or tax advice. Mortgage rules, LTV limits, and fees in Turkey can change. Confirm details with your bank and a licensed professional before you commit to a purchase.

Before you apply

For a konut kredisi file, ask how the installment is calculated, which insurance is compulsory, what the appraisal (ekspertiz) costs, and what happens if you repay early or the appraisal comes in below the agreed price. If you are not a Turkish citizen, confirm the branch can board your ID and income type before you pay a large deposit.