Don’t let a tight budget keep you from owning a home. Apply for Kuveyt Türk Housing Financing today!
The home you’ve always dreamed of, the one you’ve said, “I wish that could be mine someday!”, is no longer as far out of reach as it once was. With Kuveyt Türk Housing Financing, you can turn the home of your dreams into your warm, new home.
What Is Housing Financing?
Housing financing is a type of financing that simplifies the home-buying process by offering favorable interest rates and various repayment terms to individuals looking to become homeowners. Housing financing is available through Kuveyt Türk branches to individuals over the age of 18 who are residents of Turkey.
If you are not yet a Kuveyt Türk customer, you can quickly and easily become one using the Kuveyt Türk Mobile app. Afterward, you can visit our branches to apply for financing with favorable interest rates and flexible repayment terms to purchase your dream home.
How to Apply for Housing Financing?
Individuals who are at least 18 years old and reside in Turkey can apply for the financing through various channels.
Features of Housing Financing
- The financing amount varies depending on whether the borrower, their spouse (if applicable), or their children under the age of 18 own at least one residential property, as well as the property’s appraised value, whether it is new or used, and its energy efficiency rating.
- If the applicant, their spouse (if applicable), or their children under the age of 18 own at least one residential property, the available loan amount is reduced by 75%. The “My First Home” Housing Loan is available if the applicant does not own any residential property. Click here for more information and to learn about exceptions.
- When creating your repayment plan, you can choose a term of up to 120 months.
- The repayment plan can be structured with either fixed monthly installments or irregular payments.
- If you wish to purchase a home from ongoing (less than 85% complete) or completed (85% or more) projects of companies partnered with Kuveyt Türk, you can choose the Partnered Housing Finance option.
The maximum financing amounts available for new and pre-owned homes are listed in the table below.
| Appraised Value/Energy Class | Class A and B | Class C | Other |
|---|---|---|---|
| Houses worth up to 5 million TRY | 22,5% | 20% | 17,5% |
| Houses worth 5-7 million TRY | 20% | 17,5% | 15% |
| Houses worth 7-10 million TRY | 17,5% | 15% | 12,5% |
| Houses worth 10-20 million TRY | 12,5% | 10% | 7,5% |
| Houses worth over 20 million TRY | 10% | 7,5% | 5% |
Financing Calculator
You can use the calculator to get an idea of how much your monthly payments will be based on the loan term.
If needed, you can use the Housing Financing with a 3-month deferral.
How Can You Apply for Housing Financing?
To easily apply for a housing financing, visit your nearest Kuveyt Türk branch to have your application processed quickly.
There’s no need to put off your dream of homeownership any longer. With this financing, you can own the home of your dreams right away!
Frequently Asked Questions About Housing Financing
What type of houses is Housing Financing used for?
Housing Financing is available for residential properties that are classified as such in the land registry, have not undergone any modifications contrary to the original construction plans, have obtained occupancy permits, and for which no demolition order has been issued against the building.
Will the housing be mortgaged when I use Housing Financing?
The home will be mortgaged until the repayment process under the financing is completed.
How many days does it take to get Housing Financing?
The process is completed within 3 to 10 business days.
How is the appraised value of a residence determined?
The appraised value is determined based on factors such as the home’s age, location, square footage, and energy efficiency rating.
What down payment is required for Housing Financing?
The down payment percentage varies depending on the home’s condition, appraised value, and energy efficiency rating.
Can foreigners use Housing Financing?
Turkish citizens residing abroad can easily become homeowners through the “From Abroad to Home” Real Estate Financing program. Citizens of foreign countries listed on the reciprocity list can also use this financing.
Can financing be used for homes under construction?
Thanks to our partner housing projects, you can use financing for unfinished buildings.
What happens to the financing debt of a deceased person?
If the deceased person has life insurance, the financing debt is paid by the insurance. However, the amount to be paid is limited by the coverage and limits specified in the insurance policy. If the person does not have life insurance, the debt passes to the deceased person’s legal heir.
What is the processing fee?
The financing origination fee is calculated as 0.5% (five per thousand) of the financing amount.