Which banks offer mortgages to foreigners in Georgia

Introduction

Thinking about buying property in Georgia and wondering which banks will lend to foreigners? This guide outlines practical steps for buyers and investors: who lends, what documents are needed, how loan terms typically look, and how to reduce risks. 🏠

Who can lend to foreigners in Georgia

• Major Georgian banks: many have specific programs for non-residents or for borrowers with local income.
• Regional and smaller banks: may offer flexible terms but review reputation and stability.
• Microfinance institutions and private lenders: can be faster but usually costlier.

Tip: Prefer lenders with transparent terms and experience working with international clients.

Common requirements for foreign borrowers

• Passport and identity verification (translated/notarized copies may be needed).
• Proof of income and legal source of funds: employment contracts, bank statements, tax documents.
• Residency status: some banks lend to non-residents; others require residence permit or local employment.
• Credit history checks: banks may review international credit records or use internal assessments.

Example: A stable foreign income with certified documentation strengthens your application.

Down payment and currency choices

• Down payments for foreigners are often higher than for citizens and expressed as a percentage of the property price.
• Loan currency options typically include local currency and major foreign currencies. Currency choice affects exchange-rate exposure and income alignment.

Advice: If your income is in a foreign currency, ask the bank for scenarios in that currency or options to manage currency risk.

Interest rates and loan terms (guidance)

Avoid expecting exact figures — conditions vary by bank and borrower profile. Keep in mind:

• Rates for non-residents may be higher than for residents.
• Terms can be flexible and should be compared in total cost over the loan life.

Request amortization schedules for different terms and compare the overall cost, not just the headline rate.

Application process: steps and documentation

1. Initial enquiry: learn eligibility and rough approval amount.
2. Document submission: passport, income verification, documents for the property.
3. Property valuation: the bank orders an appraisal and verifies ownership documents.
4. Legal due diligence: check for encumbrances or disputes on the property.
5. Contract signing and mortgage registration.

Checklist: prepare translated and certified copies of documents, recent bank statements, and proof of funds for the down payment.

Risks and how to reduce them

• Currency risk: payments in a different currency than your income can lead to higher costs if exchange rates move.
• Legal/property risks: incomplete checks can expose buyers to claims or liens.
• Affordability risk: consider possible income changes and extra costs like insurance and taxes.

How to reduce risks:

• Hire a local lawyer for contract and title review.
• Consider mortgage or title insurance where available.
• Compare several banks’ offers and ask for full cost breakdowns.

Where to start and practical help

• Check bank websites and ask for specific non-resident mortgage conditions.
• Work with a real estate agency that has experience assisting foreign buyers — they can collect documents, coordinate valuations, and help with legal checks.

You can start exploring properties and options on our main site: https://buyhome.ge/en and search listings at https://buyhome.ge/en/search

Conclusion and next steps

• Prepare a complete document package in advance.
• Compare full loan costs, including fees and currency impacts.
• Use professional legal and real estate support to confirm property status.

If you’d like, we can help shortlist banks, prepare your application, and guide you through purchase and mortgage registration. Contact us for a consultation and a tailored plan. 📩