How foreigners can get a mortgage in a Georgian bank

How foreigners can get a mortgage in a Georgian bank 🇬🇪

Buying property in Georgia is popular among foreigners — for investment and relocation. Georgian banks do offer mortgages to non-residents, but rules and requirements differ from lender to lender. This guide explains the practical steps, documents, and precautions to increase your chance of approval.

1. What banks typically require

Lenders assess your ability to repay, which means they look at income stability, credit history, and links to Georgia (business, property ownership or residency). For foreign applicants, important factors include:

• clear proof of income or business activity;
• valid passport and identification documents;
• sometimes a local guarantor or temporary address in Georgia.

Not being a resident isn't necessarily disqualifying, but it can affect loan terms.

2. Documents and income verification ✅

Commonly requested documents:

• passport and any residency documentation;
• proof of income (employment letters, tax returns, bank statements);
• documents related to the property (preliminary agreement, cadastral info);
• international credit history if available.

Prepare translated and notarized copies if the bank requests them.

3. Down payment and property valuation

Banks usually require a down payment; for foreigners the bank may apply conservative valuations. That means the appraisal could be lower than the purchase price — plan a financial buffer.

Tip: commission an independent appraisal and a full legal check before signing agreements.

4. Approval steps and timelines ⏳

Typical steps: pre-approval, document submission, property appraisal, final credit decision and signing. Timelines can range from a quick pre-approval in days to full financing taking several weeks.

To speed things up, prepare documents in advance and have a clear purchase plan.

5. Currency and interest terms 💱

Mortgages in Georgia can be denominated in the local currency (lari) or sometimes in foreign currency. If your income is in another currency, consider exchange-rate risk: fluctuations can change monthly payments. Also discuss whether the rate is fixed or variable and what options exist for future restructuring.

6. Taxes, insurance and additional costs

Account for taxes on property transfer, registration fees, appraisal costs, and required insurance (property and sometimes life insurance). These can increase your initial outlay substantially.

7. How to reduce risks 🔍

• Perform a legal due diligence: check encumbrances, title history and cadastral records.
• Assess location liquidity: rental demand and resale prospects.
• Compare offers from several banks, not just headline interest rates.

BuyHome provides property checks, coordinates with banks and helps compare loan packages to find a practical solution.

8. Practical steps and recommendations from BuyHome

• Gather your documentation before you start property viewings.
• Get pre-approval where possible to strengthen your negotiating position.
• Maintain a cash buffer for appraisal differences and extra fees.
• Use professionals for legal checks and negotiations.

If you are looking for property in Batumi or elsewhere in Georgia, start with a search and a free consultation. We can help you evaluate options and contact reliable banks: https://buyhome.ge/en and https://buyhome.ge/en/search

Final note — we can help 🤝

A mortgage in Georgia is a realistic path for many foreign buyers. With careful preparation and the right partners, the process becomes transparent and manageable.

Contact us for help selecting property and arranging financing — we'll guide you through every step.