Mortgage in Georgia for foreigners: down payment, currency, documents, charge, loan agreement

Mortgage in Georgia for foreigners: how it works

A mortgage in Georgia for foreigners is possible: banks lend on apartments to people without Georgian citizenship or a residence permit too. Each bank decides under its own rules. It looks at your income and its source, the down payment and the apartment itself, which it values and takes as security with an entry in the Public Registry. Until the loan is repaid, the charge is visible in the extract, and the apartment cannot be sold without the bank's consent. A mortgage is needed when there is no developer payment plan: when buying a resale apartment, a finished apartment from a private seller, sometimes a completed new build. How it compares with a payment plan is on the payment plan or mortgage page.

What the bank looks at

Requirements differ between banks, and a refusal at one does not mean a refusal at another. We apply where your profile usually gets through, but the decision always rests with the bank.

Down payment, term and currency

For foreigners the down payment is usually higher than for citizens: according to consultants, 30–40 % of the value, and with proven income in Georgia the bank may accept less. The loan term is usually up to 10–20 years, depending on the bank and the currency. Currency is limited by a National Bank rule: since 1 July 2026, loans up to 1 000 000 lari are issued only in lari, but the rule does not apply to borrowers without Georgian citizenship. For a foreigner a loan in dollars or euros remains possible. If the loan is in lari and your income is in another currency, the payment will change with the exchange rate, and we build in a margin for that in advance. We check the rate, term and fees with the bank for your situation.

Documents for the bank

• a passport;
• the bank's application form;
• proof of income: statements for recent months, an employer's letter or a tax return;
• proof of funds for the down payment;
• a Public Registry extract for the apartment;
• the preliminary agreement or the sale agreement;
• a residence permit, if you have one: it is not required but can help.

The bank usually expects the borrower in person; few accept applications under a power of attorney. If you have not yet opened an account at a Georgian bank, it is convenient to do so at the same bank; more on the opening a bank account in Georgia page.

The order: approval before the deposit

The main rule of buying with a mortgage: get the bank's decision before the deposit. First we find out from the bank what amount you can count on, then choose the apartment, check the documents and sign a preliminary agreement with a period for loan approval. The bank values the apartment, and the loan amount is based on its valuation, not on the deal price. The review takes from a few days to two or three weeks. If the bank refuses, the deposit must be returned: we write that condition into the agreement; more on the preliminary agreement page.

The registry charge and insurance

The mortgage is registered at the Public Registry at the same time as your ownership or immediately after it. An entry for the charge in favour of the bank appears in the extract, and while it is there the apartment cannot be sold, given away or mortgaged again without the bank's consent. Once the loan is repaid, the bank consents to removing the charge, and the entry is deleted. Banks usually require insurance of the apartment and of the borrower's life: its cost is part of the full cost of the loan. If the loan comes not from a bank but from a private individual or a company, the law requires the mortgage to be in notarial form.

What to check in the loan agreement

The bank provides the loan agreement on its own template, but it must be read before signing. We look at the rate and how it changes: whether it is floating or fixed for several years with a later review. We look at the effective rate with all fees and insurance, the early repayment penalty, the currency and exchange rate of payments, penalties for late payment and the cases where the bank may demand early repayment. If the agreement is only in Georgian, we prepare a translation. The bank's valuation does not replace your own check: the bank looks at the apartment as security, not as your home, so we check the documents and encumbrances separately; more on the property document check page.

An apartment with the seller's mortgage

Often the extract already shows a charge in favour of the seller's bank. Such an apartment can be bought: the seller's debt is paid off from the price, the seller's bank removes the charge, and only then is your ownership registered. This requires a bank statement of the exact debt on the day of the deal and a written payment scheme: what part of the price goes to the seller's bank and what part to the seller. If you are also taking a mortgage, two banks take part in the deal, and we agree the timing with both in advance. How this works at the registry is on the Public Registry registration page.

How much mortgage support costs

Choosing a bank and mortgage support, with documents, the application and the deal with the charge, costs from 840 ₾, excluding bank fees. A loan agreement review from 660 ₾, valuation by an accredited appraiser from 330 ₾, a technical inspection of the apartment before purchase from 480 ₾, full legal support for the transaction from 2 220 ₾. Interest, insurance and registry fees are paid separately. The final cost is set after reviewing your situation and agreeing the scope of work.