How Mortgages Work for Foreigners in Georgia

Overview 🇬🇪

Mortgages in Georgia are accessible to many non-residents and are commonly used by people buying to live in the country or invest. This guide explains how lenders assess foreign applicants, what documentation is usually required, currency considerations, and practical steps to prepare.

Who can apply? 🧾

Many Georgian banks lend to foreigners. The decisive factors are not nationality but:

• verifiable and stable income;
• availability of documentation proving income (pay slips, bank statements, tax returns);
• credit history, domestic or international;
• ability to make a down payment.

Some lenders may prefer applicants with residency or long-term stay, while others will work with any foreign buyer but may require a larger down payment.

Property requirements 🏢

Banks examine the legal status of the property: clear title, absence of heavy encumbrances, and valid technical documentation. Loans are typically easier for finished apartments or houses than for unfinished construction unless extra guarantees are provided.

Currency and exchange-rate risk 💱

Mortgage loans may be offered in lari or in foreign currencies (commonly euro or dollar). Key points for foreigners:

• currency fluctuations can affect repayments if your income is in a different currency;
• some lenders offer fixed-rate periods or hybrid products;
• currency risk insurance can be available but increases costs.

Tip: choose loan currency close to your income currency to reduce exchange risk.

Down payment and loan term 💡

Down payment requirements vary; for foreign buyers the down payment is often higher. Loan terms are flexible and depend on age, purpose of purchase, and lender policies.

How banks assess affordability 📊

Typical requirements include:

• proof of income: payslips, tax records or business accounts;
• bank statements to show savings and cash flow;
• documents for self-employed or business owners.

If your income is abroad, the bank will evaluate how reliable and accessible those funds are for servicing the loan.

Step-by-step process 🔁

1. Prepare required documents: passport, income proofs, property paperwork.
2. Submit a pre-qualification request to learn your borrowing capacity.
3. Property valuation by an appraiser appointed by the bank.
4. Sign the loan agreement and payment schedule.
5. Register the mortgage and transfer property title in the public registry.

Legal checks and certified translations may be needed at different stages.

Taxes, fees and insurance ⚖️

Budget for:

• registration fees and state charges;
• notary and bank commissions;
• mandatory or recommended insurance (property, life or loan insurance);
• tax duties if you plan to rent out the property.

Get local legal and tax advice before finalising the purchase.

Practical tips for buyers and investors ✅

• Compare multiple lenders — terms and flexibility vary significantly.
• Prepare certified translations and notarised documents in advance.
• Use a local real estate agency to help verify titles and negotiate. BuyHome can assist with property search and transaction support: https://buyhome.ge/en and https://buyhome.ge/en/search.
• Maintain a cushion of funds for unexpected costs: repairs, taxes or insurance.
• Assess the property’s rental potential and resale prospects before committing.

Final thoughts — realistic planning and support 🤝

Obtaining a mortgage as a foreigner in Georgia is feasible and often efficient, but it requires preparation. Focus on clear documentation, the right currency choice, and professional support during the legal and registration steps.

If you'd like personalised advice or help finding mortgage-ready properties in Georgia, contact BuyHome — our team will guide you through every step.