All Turkish residents above 18 years of age apply for First Home Financing via Kuveyt Türk branches. If you aren't a Kuveyt Türk member yet, you can use our Internet Branch or the Kuveyt Türk Mobile app to become a member online and own your dream home.
First Home Financing Features
- The amount of the financing varies according to the appraisal value of the house, whether it is new or second-hand, and the energy class provided that the person using the financing has at least one house owned by themself, their spouse, or their children under 18.
- The borrower must not own any residence owned by them, their spouse, or their children under 18.
- The amount of financing that can be used is reduced by 75% if the person who will use the financing has at least one house owned by themself, their spouse, or their children under 18. Click here for detailed information.
- The following are not considered homeowners in the assessment of home ownership status:
- If the homeowner has only one residence owned by themself, their spouse, or their children under 18 and the residence has been demolished due to the determination of a risky structure as per Law No. 6306 on the Transformation of Areas under Disaster Risk or that a demolition decision has been taken (a letter from the Land Registry Offices, District Governorships or Municipalities stating that “the residence has been demolished due to the determination of a risky structure as per the Law No. 6306 on the Transformation of Areas under Disaster Risk or that a demolition decision has been taken” should be obtained).
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- Homeownership in villages,
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- Owning 50% or fewer shares in any residential title deed (excluding multiple share ownership).
- When creating your repayment plan, you can choose the term option up to 120 months.
- The repayment plan can be set up with fixed installment payments or irregular installment payments.
- If you want to buy a house from ongoing (less than 85% completed) and completed (85% or more completed) projects of Kuveyt Türk contracted companies, you can choose Contracted Housing Finance.
The maximum financing rates that can be used for new houses are given in the table below.
| Appraisal Value/Energy Class | Class A | Class B | Other |
|---|---|---|---|
| Properties up to TRY 5 million | 90% | 85% | 80% |
| Properties between TRY 5-10 million | 80% | 75% | 70% |
| Properties between TRY 10-20 million | 70% | 65% | 60% |
| Properties over TRY 20 million | 60% | 55% | 50% |
The maximum financing amount for second-hand properties are listed below:
| Appraisal Value/Energy Class | Class A | Class B | Other |
|---|---|---|---|
| Properties up to TRY 1 million | 90% | 90% | 90% |
| Properties between TRY 1-2 million | %70 | %65 | %60 |
| Properties between TRY 2-5 million | %60 | %55 | %50 |
| Properties between TRY 5-10 million | Minimum TRY 3 million | Minimum TRY 2,75 million | Minimum TRY 2,75 million |
| Properties over TRY 10 million | 0% | 0% | 0% |
First Home Financing Calculator
You can use the calculator to have an idea of how much repayment will be made according to the term.
You can use Housing Finance with a 3-month deferment in case of need.
Frequently Asked Questions About First Home Financing
For which houses can I use First Home Financing?
First Home Financing is for houses defined as residential in the title deed, that have not been modified contrary to the project after construction, and have occupancy permits. Apartments should not be situated in buildings with a pending demolition decision.
Is the house mortgaged when I use First Home Financing?
The house is mortgaged until the repayment process is completed.
How many days does it take to issue a First Home Financing?
All transactions are completed within 3 to 10 business days.
How is the appraisal value of a house determined?
Details such as the age, location, square meter and energy class of the house to be purchased are effective in determining the appraisal value.
How much down payment is required for First Home Financing?
The down payment rate varies depending on whether the borrower owns at least one house, either by themself, their spouse (if applicable), or their children under the age of 18. It also depends on the appraisal value of the house, whether it is new or second-hand, and its energy class.
Can foreigners use First Home Financing?
Citizens of the Republic of Turkey residing abroad can easily become homeowners with Property Financing for Expats. Foreign citizens on the reciprocity list can also use the same financing.
Can financing be used for housing under construction?
You can use financing for unfinished buildings through contracted housing projects.