Can expats get a home loan in Greece?
Yes. If you're living and working in Greece as an expat, you can apply for a home loan with a Greek bank.
In fact, if you're earning an income in Greece, paying tax locally, and have established residency, you may be able to borrow more than someone applying from overseas.
Whether you've recently relocated or have lived in Greece for years, many Greek banks offer home loans to eligible foreign residents. How much you can borrow depends on your residency status, employment, income, deposit, credit history and the bank you apply with.
Buying property in a new country can feel overwhelming when the banking system, legal process and language are unfamiliar — but the home loan process is generally straightforward once you understand what's involved.
Who this guide is for
This guide is for foreign nationals already living in Greece who want to buy residential property using a home loan from a Greek bank. It will be useful if you're:
- Working in Greece on a residence permit
- An EU citizen who has relocated to Greece
- Living in Greece under the Digital Nomad Visa
- Living in Greece under the Financially Independent Person (FIP) Visa
- A permanent resident, or married to a Greek citizen
- Planning to stay in Greece long-term
- Buying your first home, an investment property or a holiday home while living in Greece
You don't need any previous experience with the Greek banking or property system — we explain each stage in plain English and highlight where the process differs from your home country.
Key takeaways
- Expats living in Greece can apply for a home loan with a Greek bank.
- If you're a Greek tax resident with income earned in Greece, you may qualify for higher borrowing limits than overseas buyers.
- Many banks lend up to 80% of the property value to eligible residents — so you'll usually need a deposit of around 20%, plus purchase costs.
- You'll need a Greek Tax Identification Number (AFM), a Greek bank account, and proof of legal residency.
- Stable employment and regular income are among the most important factors in your application.
- Home loan approvals typically take 6–12 weeks; pre-approval can often be obtained in 2–4 weeks once your documents are complete.
- Budget around 10% of the purchase price for taxes and buying costs, on top of your deposit.
Why living in Greece can improve your borrowing options
One of the biggest advantages of already living in Greece is that banks can more easily assess your financial position. If you're employed in Greece, receive your salary into a Greek bank account, and pay Greek income tax, the bank can verify information that makes your application simpler than for someone applying from overseas. Depending on your circumstances, you may benefit from:
- Higher maximum borrowing limits
- Access to a wider range of home loan products
- Simpler income verification and faster document checks
- Less reliance on translated overseas documents
That doesn't mean approval is automatic — banks still assess your income, expenses, employment stability and overall financial position before deciding how much to lend.
Who can qualify for a home loan?
Living in Greece doesn't automatically guarantee approval, but it can significantly improve your chances compared with applying from overseas. Every Greek bank has its own lending policy, but most assess expat applicants against a similar set of requirements. To qualify, you'll typically need to show:
- A valid residence permit or legal right to live in Greece (where applicable)
- A Greek Tax Identification Number (AFM)
- A Greek bank account
- Stable employment or self-employed income
- Sufficient income to comfortably meet the proposed home loan repayments
- A positive credit history
- A deposit that meets the bank's lending requirements
Every application is assessed individually, so meeting these requirements doesn't guarantee approval — but they form the foundation of almost every home loan assessment.
Employment and income
Your income is one of the most important factors. Banks want confidence that you can comfortably afford the home loan not only today, but for many years. If you're employed, lenders generally look at your employment status, how long you've been with your employer, whether you're permanent or fixed-term, your monthly salary, and any regular bonuses or additional income.
If you're self-employed, you'll normally provide additional evidence of business income — recent tax returns, financial statements or accountant-prepared financials — and some banks require a longer history of self-employment.
Age requirements
Greek banks have maximum age limits for lending. Policies vary, but many require the home loan to be fully repaid by the time the eldest borrower reaches 75. For example:
- A 35-year-old borrower may be eligible for a 30-year term
- A 55-year-old borrower may be offered around a 20-year term
- A 65-year-old borrower may qualify for a significantly shorter term
A shorter term usually means higher monthly repayments, even if the loan amount stays the same. If you're approaching the bank's maximum lending age, it's worth discussing your options early.
Credit history and existing commitments
Greek banks don't only consider your financial history in Greece — depending on your circumstances, they may also request your credit history from your previous country of residence, particularly if you've recently relocated. A strong credit history strengthens your application. If you've only recently moved, don't worry if you haven't built much local credit yet; banks will often rely more on overseas financial information together with your current income and employment.
Banks also consider your ongoing financial commitments, which may include:
- Personal loans
- Car loans
- Credit card limits and balances
- Existing home loans
- Buy Now, Pay Later facilities
The fewer ongoing commitments you have relative to your income, the stronger your application. Before applying, it can help to reduce unnecessary debt or close unused credit facilities.
How much can you borrow?
The amount depends on your income, residency status, employment, deposit, credit history and the bank you choose. Most Greek banks assess two things: how much the property is worth, and how much you can realistically afford to repay each month. Both matter — even with a high income the bank won't lend more than its maximum percentage of the property value, and even with a large deposit you must show the repayments fit comfortably within your budget.
As a general guide, expats who are living and earning income in Greece may be able to borrow under the same lending policies as Greek residents, provided they meet the bank's eligibility requirements. Beyond the maximum LTV, banks also weigh your household income, existing commitments, employment stability, deposit size, residency and tax status, age, and the property itself — so two borrowers on the same salary can receive different offers.
The bank arranges its own property valuation
A common surprise is that the bank doesn't necessarily lend against the purchase price — it arranges its own independent valuation, and the home loan is calculated on the bank's assessed market value.
For example, if you agree to buy an apartment for €400,000 but the bank's valuer assesses it at €380,000, an 80% LTV home loan would be based on €380,000 — a maximum loan of €304,000 (€380,000 × 80%) — and you'd contribute the remaining balance. This is one reason not to stretch your budget before receiving the bank's valuation.
Don't forget the purchase costs
Your deposit isn't the only money you'll need. Buying property in Greece also involves taxes, government charges and professional fees that aren't covered by the home loan. As a planning guide, budget around 10% of the purchase price for buying costs in addition to your deposit.
Get pre-approved before you start house hunting
One of the biggest mistakes expats make is finding their dream property before understanding what they can actually borrow. A pre-approval gives you a realistic budget, strengthens your negotiating position with sellers, and lets you compare banks before committing — borrowing limits, rates and lending policies vary significantly.
Knowing your borrowing capacity helps you search within a realistic budget, negotiate with confidence, move quickly when the right property appears, and reduce the risk of finance delays. Speaking with an independent home loan specialist before you begin your search can save both time and money.
Documents you'll need to apply for a home loan in Greece
One of the biggest differences between applying in Greece and in your home country is the paperwork. The process isn't necessarily harder, but Greek banks verify your identity, income, residency and financial position before approving your loan. If you're already living and working in Greece, much of this is easier to obtain. Preparing your documents before you apply significantly reduces delays.
The exact list varies by bank and your circumstances. Use our interactive tool to build a checklist tailored to your tax residency, nationality and employment — and download it as a PDF:
Identification, AFM and residency
Every applicant provides proof of identity — usually a valid passport, a national identity card (if applicable), and your residence permit or residency documentation. Banks verify identity under anti-money-laundering (AML) and Know Your Customer (KYC) rules. If you apply jointly, both applicants provide ID.
Every property buyer in Greece also needs a Greek Tax Identification Number (AFM), used to apply for a home loan, purchase property, pay property taxes and register ownership. If you don't have one, it can usually be arranged before you apply.
As someone living in Greece, the bank will usually ask for evidence of your legal residency — a residence permit, EU Registration Certificate, permanent residency documentation, Digital Nomad Visa, FIP residence permit, or other immigration documents confirming your right to reside (and sometimes confirmation of your current address).
Proof of income, bank statements and tax returns
Banks verify how much you earn and whether your income is stable and likely to continue. If you're employed, you'll generally provide recent payslips, an employment confirmation letter (if requested), recent salary deposits into your account, and your latest Greek tax return where available.
If you're self-employed, you can absolutely get a home loan, though the documentation is more extensive: recent Greek tax returns, business financial statements, accountant-prepared reports, proof of business ownership and recent business bank statements. Some lenders prefer a longer trading history.
Most lenders also request recent bank statements (to verify income, living expenses, existing repayments, savings history and your deposit), and copies of your recent tax returns — many ask for the last two to three years where available. If your salary is paid into a Greek account, verification is usually much simpler.
Overseas documents, translations and Apostille
Greece doesn't use a consumer credit-reporting system in quite the same way as Australia, the UK or North America, so banks may ask for extra information about your financial history — a credit report from your previous country, evidence that existing loans are repaid on time, and details of any current home loans or personal loans — particularly if you've recently moved.
If some documents were issued outside Greece, whether they need translating depends on the bank and the language. Many banks accept documents in English without an official Greek translation; documents in other languages may need an authorised translator. Confirm the bank's requirements before arranging translations to avoid unnecessary cost and delay.
Common document mistakes (and how to avoid them)
Most home loan delays aren't caused by the bank — they're caused by incomplete or incorrect documentation. The most common mistakes include:
- Applying before obtaining an AFM
- Providing expired identification documents
- Supplying incomplete bank statements or missing pages of a tax return
- Leaving translations to the last minute
- Assuming every bank requires the same documents
- Not declaring overseas financial commitments
Collecting your documents early — ideally before you find a property — lets you get a pre-approval, gives you a clear budget, and lets you move quickly when the right property appears.
Which home loan is right for you?
There's no single home loan that's best for everyone. The right loan depends on your income, deposit, residency status, property type, financial goals, risk tolerance and future plans. Someone buying a forever family home may value repayment certainty; an investor may prioritise flexibility; a buyer planning to refinance soon may choose something different again.
The cheapest home loan isn't always the one with the lowest advertised rate. Before deciding, compare the maximum borrowing amount, loan features and flexibility, repayment options, fees, customer service and approval timeframes. Comparing several lenders — and understanding the strengths of each product — usually saves both money and stress over the life of the loan.
How GreekHomeLoans can help
At GreekHomeLoans, we help expats, international buyers and Greek residents navigate the Greek home loan process with confidence. We simplify what can feel complex by helping you understand your options before you approach a bank. Depending on your circumstances, we can help you:
- Understand how much you may be able to borrow
- Compare home loan options from multiple Greek lenders
- Identify which banks suit your residency and employment situation
- Prepare the documents you'll need and get ready for pre-approval
- Understand the buying process from beginning to end, and coordinate with trusted professionals
If you'd like personalised guidance based on your own circumstances, start with a free fact find — we'll look at your goals, residency and employment, likely borrowing capacity, the deposit you'll need, which lenders may suit you, and your next steps.