How to Get a Loan

    REQUIRED DOCUMENTS FOR TURKISH NON-RESIDENTS & FOREIGNERS
  • Signed application form
  • Copy of Passport (original copy has to be physically verified by DD Mortgage sales representative)
  • Proof of address, passport stating address, most recent phone (other than cell-phone) bill or utility bills with apostille
  • Copy of the title/deed of the property to be purchased
  • Income tax declaration to be received from the related regulatory authorities and/or evidence of monthly income for the last month (to be signed by the company authorized representatives)
  • Tax number card and/or non-resident ID card
  • If there is guarantor or co-debtor involved, all documents stated above will also be requested
  • All documents should be in Turkish. All non-Turkish documents should be translated into Turkish through notary and should contain apostille
  • DD Mortgage reserves the right to request additional information and documents if necessary
  • *Military permission from Ministry of Defense* will be required for foreigners
  • * Military permission involves the authorities agreeing (1) that the customer is qualified to own property in Turkey and (2) that the land is not in a military sensitive area
    PROPERTY APPRAISAL

    If your “Final Application” is approved, the appraisal will be initiated by DD Mortgage and the appraised property value will be determined within a maximum of two business days for properties located in Istanbul. You can pay the fee for the appriasal report with your credit card through our Mortgage Line ( Appraisal report is being prepaired by the Real Estate Appraisal Companies licensed by Capital Markets Board ). Alternatively, you may also pay the fee by directly depositing the amount into one of our accounts at one of our correspondent banks. The appraisal value will determine the maximum credit loan amount. At DD Mortgage, maximum loan amount cannot exceed 50% of your property’s value for Turkish non-residents and foreigners

    PRE-CONTRACTUAL INFORMATION SHEET

    After the appraisal process is completed, you have to sign the pre-contractual information sheet. According to the Turkish Mortgage Law, the loan contract must be signed one day after the pre-contractual information sheet has been signed The pre-contractual information sheet contains all the details of your loan, payment schedule, interest rate, principal amount, monthly installments for the first year, annual installments for the remaining years and all the fees

    * Prior to the signing of the loan contract and disbursement, payment of the loan fees that are detailed in the pre-contractual information sheet must be collected. In order to expedite the disbursement process, you may make the payment with your credit card via our Mortgage Line or deposit the fee into our account at any of our correspondent banks
    DISBURSEMENT

    Once the pre-contractual information sheet has been signed, one business day later you can sign the loan contract, payment schedule, and other credit documents. After you sign these documents, the pledge (mortgage) documents are prepared by DD Mortgage

    In order to protect your property, mandatory Natural Disaster Insurance will be requested. Other insurance product are not required by DD Mortgage At DD Mortgage, loans are disbursed in six business days on average, with the condition that all the required documents are complete and accurate, and submitted in a timely manner

    TITLE/DEED PROCESS

    DD Mortgage will hold a first lien on your property at a value of principal amount. A contracted lawyer of DD Mortgage, who will have the pledge documents will accompany and assist you at the land registry office

    During the course of the sale of the property and the registration of the mortgage, a certified cheque equal to the loan amount will be prepared for the seller