Planning to buy a home with a mortgage? We explain every step in plain language, from a bank pre-assessment and the appraisal to mortgage registration at the land registry and DASK insurance.
Owning your own home is one of the biggest decisions most families make, and it is often made together with a mortgage (konut kredisi). A loan opens the door when savings alone are not enough, but if you don't know the process in advance you may lose the home you love or face costs you didn't expect. In this article we walk through, step by step, what anyone planning to buy with a mortgage in Turkey should know.
Get a pre-assessment from banks before house-hunting
Many buyers find a home first and think about the loan later. Reversing that order saves you a great deal of time. You can apply to the bank where your salary is paid, or to several banks, and ask for a pre-assessment of how much you could borrow based on your income, existing debts and credit history.
This pre-assessment is not a final approval; the final decision comes after the home you choose has been appraised and your documents have been reviewed. Still, knowing the limits of your budget from the start lets you search realistically and negotiate with the seller with more confidence.
Plan your down payment and monthly instalments against your income
In a mortgage, banks finance a certain portion of the home's value, not all of it; you need to cover the rest as a down payment. Because these ratios can change with regulations, the property's characteristics and market conditions, always confirm the current rules with your bank and with official sources such as the BDDK (Banking Regulation and Supervision Agency).
When planning, keep the following in mind:
- The monthly instalment should be comfortably payable after your essential expenses
- Set aside separate savings for unexpected situations
- Besides the down payment, budget for extra costs such as title deed fees, the appraisal fee, insurance and moving
- Consider possible future changes in your income
A longer term lowers the instalment but increases the total repayment; a shorter term does the opposite. Decide which suits you based on your own cash flow.
Why does "krediye uygun" matter in listings?
When a listing says "krediye uygun" (mortgage-eligible), it means the bank can accept that home as collateral and lend against it. If the home you like is not mortgage-eligible, the loan may not be granted no matter how positive your pre-assessment was. That is why paying attention to this detail while browsing our homes for sale protects you from wasted viewings.
The following factors usually determine whether a property is mortgage-eligible:
- Kat mülkiyeti title deed (full condominium ownership): Condominium ownership has been established for the building. Banks may treat kat irtifakı (construction-stage servitude) or shared (hisseli) title deeds differently.
- İskân (occupancy permit): Shows the building was completed in line with its approved project and is fit for use.
- Bank appraisal: An expert appointed by the bank inspects the property on site and issues a positive report.
- Clean legal status: No records on the title deed, such as a seizure (haciz) or an annotation (şerh), that would block lending.
Each bank has its own criteria, so the final decision always rests with the bank concerned.
Ekspertiz: the loan amount is based on this report
One of the most critical steps is the ekspertiz (bank appraisal). Through a licensed valuation expert, the bank has the property's market value, legal status and physical condition assessed. The amount you can borrow is calculated on the value set in this report, not on the sale price.
If the appraised value comes in below the sale price, you may need to cover the difference from your own funds. Knowing this possibility from the start and keeping a small margin in your budget prevents last-minute surprises.
What to look at when comparing offers
Deciding on the interest rate alone can be misleading. When comparing banks' offers, weigh these points together:
- The interest rate and whether it is fixed or variable
- Term options and the monthly instalment
- Extra items such as the loan arrangement fee and the appraisal fee
- Compulsory or recommended insurance policies and their cost
- Conditions for early repayment and closing the loan
- The total amount you will have paid by the end of the term
Asking the bank for a written repayment schedule is the easiest way to compare offers on the same basis.
Which documents are required?
Requirements vary by bank and by your employment status, but banks generally ask for an identity document, proof of income (such as payslips or a tax registration certificate), address details and the title deed information of the property you are buying. Self-employed applicants and company partners may be asked for additional documents. Getting the current list from your bank before applying speeds things up.
The process at the tapu office and mortgage registration
Once the loan is approved, the sale takes place at the tapu müdürlüğü (land registry office). Together with the sale, an ipotek (mortgage lien) is registered on the property in the bank's favour: the home is registered in your name, but the lien stays on the title deed as the bank's collateral until the loan is repaid. The loan amount is usually transferred to the seller at the same time as the title deed transaction.
Coordinating the appointment, fee payments and required documents with your bank and the seller in advance helps the day at the land registry go smoothly.
DASK and other insurance
DASK (Turkey's compulsory earthquake insurance) is a mandatory policy required both for title deed transactions and for a mortgage, and it must be renewed every year during the loan term. Banks may also require or recommend policies such as home insurance or life insurance. Ask which policies are compulsory and which are optional, and find out whether you may take them out with a different provider.
Remove the lien after closing the loan
When you pay the last instalment or close the loan early, the job isn't quite done: the mortgage record on the title deed must also be removed. Once the land registry is notified that the debt has been paid, the lien is released through terkin (deletion of the record). Confirm with your bank how this step works; while the lien remains, selling the home or using it in another transaction can be difficult.
How Realty World Vega advisors can help
Buying with a mortgage starts with finding the right home with the right documents. Our advisors at Realty World Vega help you identify mortgage-eligible homes that fit your budget and needs, check the title deed and occupancy permit status from the outset, and plan each step of the sale. Banks decide on the loan and its terms; we stand by you on the way to finding the right home. If you are looking for a mortgage-eligible home in Konyaaltı or elsewhere in Antalya, contact us.
This article is for general information only and does not constitute financial advice.
