Getting A Mortgage In Italy

In theory, Italian banks are willing to lend to foreigners, but in reality, it doesn’t happen. And if it did, the bureaucracy would be staggering. Typical terms for foreigners allow for a 50% to 60% LTV, generally with a minimum agreement of 100,000 euros.

Here are the steps and timeline for getting a mortgage:

1. After an initial consultation, the bank looks at your finances and property details (a few days).
2. Submit an application and receive pre-approval (several days to two weeks).
3. A surveyor (geometra) inspects the property, reporting back on any significant issues (two to three weeks).
4. Your notary, after a title check, informs the bank that the seller has the necessary rights to sell (one to two weeks).
5. If your finances check out, you receive final mortgage approval (one to two weeks).
6. The funds are released on the signing date.