Understanding options for mortgages, loans, and funding your renovation in Le Marche and beyond.
Even if you have capital, knowing your financing options is essential. Italy offers specific mortgages and loans for foreigners, though terms differ from country to country.
Property Purchase Financing:
- Italian mortgages: Typically up to 70%–80% of purchase price for non-residents; may require proof of income and local bank account.
- International banks: Some banks in your home country provide cross-border property loans.
- Private lenders: Usually higher interest but flexible.
Renovation Loans:
- Bank personal loans: Can cover 80–100% of renovation costs for small projects.
- Eco-bonuses and incentives: Italy offers tax deductions for energy-efficient upgrades and seismic retrofitting.
- Structured financing: Larger renovations may benefit from staged payments tied to project milestones.
Tips for Success:
- Maintain detailed budgets and cost projections.
- Open a local bank account early to facilitate transfers and payments.
- Compare interest rates and fees across multiple banks.
- Factor in notary fees, taxes, and permit costs when planning total financing.
Related Articles:
• Foreign Buyer Practicalities: Residency, Visas, Inheritance