We are highly specialized in applying for bank loans for foreigners in Italy, residing abroad and with foreign income.
Getting a mortgage for foreigners is not as difficult as you think. Like Italians, foreigners must also provide guarantees of solvency and possess certain income requirements, but the procedure is the same, except for some small differences.
Most banks positively evaluate the possession of residence in Italy, considering it an additional guarantee with respect to income and personal guarantees.
But it is not a prerequisite.
In addition, some banks may predict that the residency has already been in place for 2 or 5 years.
The documents to be attached to the application (in addition to any residency certificate) require a copy of the valid residence permit and the certification relating to the family status issued by the Municipality.
Among the income documents you need the latest payslips and 730 o Cud for employees, or the latest tax returns for freelancers or self-employed workers.
Some banks offer tailor-made mortgages for foreigners living and working in Italy.The amount of the mortgage is variable depending on the economic needs of the applicant and his repayment possibilities.
Mortgages for foreigners can be requested only if the property is located in Italian territory.
We can work together to get the best solutions for you and optimize your chances of obtaining a mortgage in Italy, to buy or renovate a property.
WHO CAN BE FINANCED?
Natural persons (mortgage for firms at our discretion);
Residency all over the world;
Incomes from self and dependent employment;
Income currency: EUR, GBP, USD, CAD, AUD, SGD, HKD, DKK, NOK, SEK, CHF, JPY;
Possibility to evaluate other currencies at our discretion.
WHAT CAN BE FINANCED?
Purchase of first or holiday home
Property which is habitable and in order with all the necessary permits;
MAX 60% of the purchase price;
MAX duration: 25 years.
Small renovation of first or holiday home
Needed: cost estimates and building permits;
MAX 50% of the final value of the property;
Mortgage disbursed in lump-sum payment at the termination of the works.
Max DTI ratio (debt to income): 30%;
Max age: 75 years at the end of the mortgage duration;
MAX duration: 25 years;
Opening of a bank account in the lender bank;
Transfer of your money, that you are using as equity for finalizing the purchase, to the Italian account before the final deliberation of the mortgage;
Sworn translation / legalization of the income documents (Italian).
TYPES OF MORTGAGE
French Amortisation Schedule (unvaried instalments including interest and principal payment);
Fixed Rate (MAX 20 years) and Variable Rate;
NO penalty in case of early payment, for both Fixed Rate and Variable Rate mortgages.