💎 Mortgage in Georgia for Foreigners: Why is it Beneficial? 💎 Do you want to buy real estate in Georgia but aren’t ready to pay the full amount upfront? Good news: foreigners can get a mortgage on favorable terms! And yes, it’s much easier than you might think. 1️⃣ What are the advantages? - Minimal down payment Banks in Georgia require a down payment of only 20-30% of the property value. This is lower than in many other countries. - Interest rates from 6% per year For comparison: in neighboring countries, rates can reach 10-12%! - Simple borrower requirements You don’t need residency or citizenship. A valid passport, stable income, and a good credit history are enough. - Fast processing You can submit an application online, and the bank will make a decision within 3-5 days. The entire process, including signing the contract, takes up to 2 weeks. - Mortgage in foreign currency You can get a loan in **dollars, euros, or lari**—choose the one that suits you best. 2️⃣ Which banks offer mortgages to foreigners? There are several major banks in Georgia where you can get a loan without citizenship: - Bank of Georgia - TBC Bank - BasisBank Each offers its own terms, but generally, they are similar: - Loan term up to 20 years - Early repayment without penalties - A friendly approach towards non-residents 3️⃣ What documents are required? - Passport - Proof of income (or a bank statement) - Credit history (preferable) 4️⃣ Why Georgia? Georgia is one of the most investor-friendly countries. There is no property tax, and the purchase process is completely transparent. Moreover, property prices remain affordable, but they rise every year. This means buying real estate with a mortgage is not only a convenient step, but also a profitable one.