Italian Morgage: everything you need to know
Mortgage rates on Italian properties are extremely low, around 1%, nearly one-third of those in the United States.
On the downside, you’ll likely need a lawyer to assist you in the process acting on your behalf as many Italian processes require your physical presence.
The standards: mortages for non residents and residents in Italy
When applying for a mortgage you should consider other applicable fees for the: mortgage application, broker, notary and home insurance as well as mortgage taxes and appraisal.
It’s also worth noting that both residents and non-residents are eligible for heavy tax breaks when purchasing their first property in Italy.
Additionally, chances of mortgage approval success, loan amount, timing and cost depend on several factors: personal conditions and property conditions, domicile, and even the applicant’s nationality.


The Process
- Solvency check: the bank reviews your personal financial status and property information within 1 or 2 days;
- Pre-approval: this can take 3-14 days;
- Compliance check: a bank-appointed surveyor inspects the property, issuing a compliance and evaluation certificate in 14-21 days;
- Title check: a borrower-appointed notary reviews the property title, issuing a title check report for the bank in 7-14 days;
- Final approval: after a satisfactory solvency check, compliance check and title check by the notary, the bank issues a formal mortgage approval within 7-14 days;
- Funds release: after approval, the bank and borrower set a signing date. The documents are signed in front of the same notary. Depending on the bank’s policy this can take from 14-28 days.
Steps 3 and 4 ensure that the property is adequately inspected by all parties.
Italian banks may insist that you open an account with them to set up automatic mortgage payments although this is not legally required, so it can be negotiated.
As a side note, if the current owner already has a mortgage on the property and you are happy with the terms of the existing mortgage, you might be able to undertake it with no cost or fee. This can work out well for everyone involved.
I’m in the process of buying a home in Lucca Italy. I’m a dual citizen US/Italian. I’m working with a local mortgage broker and bank. Is there a problem if I use my US home equity as cash for the down payment?
Technically no, however I am a bit skeptical about a bank or mortgage lender accepting your US home as collateral
Im an Italian citizen, residing in Verona. I retired at 62 from a job I had in the US and I would like to get a mortgage rather than cash out on some of my investments. First bank I went to said no because my money is all in the US. Should I keep looking or is it futile for someone in my situation?
The main issue is that you earn in USD instead of EUR, therefore you shall have a financial product to cover against the currency risk. You can get in touch with us as and we can refer you to a trusted mortgage broker
We are US citizens and have a contract to purchase an apartment in Verona. Please provide a list of mortgage companies that will write a mortgage for a Non-Italian.
Grazie