Getting a mortgage in Italy as a non-resident: LTV, rates, costs and the codice fiscale

Italy lends to foreign buyers, but of the countries covered in our mortgage guides it asks for one of the largest deposits, and the paperwork has a few Italian specifics. Our general guide to mortgages for non-residents covers the basics across countries; this one goes deeper on Italy. Figures below are indicative, drawn from mid-2026 adviser and broker sources rather than from the banks' own price lists, and they vary by lender and by your profile.

How much Italian banks lend non-residents

• Residents can borrow up to about 80% of the value. Non-residents typically get less: 50–60% is the commonly quoted figure for non-residents with foreign income, and some sources cap it at 40–50%, especially for non-EU buyers on a first Italian purchase. Sources disagree, so ask for a written indication from a specific bank.
• That means a deposit of 40–60% of the price, plus purchase costs.
• Terms are typically 20–30 years, with some banks going longer, and the borrower is usually expected to be under about 75–80 at maturity.
• Lenders reported to deal with foreign buyers include Intesa Sanpaolo, UniCredit, BPER Banca and Banco BPM. UniCredit is described as easier for EU non-residents.
• Banks test the instalment against income. A third of net income is the commonly cited benchmark, but the sources we checked did not give a fixed rule, so confirm with the lender.

Rates in 2026

• Reported mid-2026 ranges for a 20-year fixed rate are about 3.7–4.7% for non-residents, against 3.3–4.2% for resident prime borrowers. This comes from a single guide, so treat it as indicative.
• Variable rates are indexed to Euribor plus a spread, reported at roughly 1.0–1.8 percentage points for non-residents.
• Always ask for the TAEG, the full cost of the loan, in writing.

The codice fiscale and the documents

The Italian tax code, the codice fiscale, is the first thing to get. The rule of thumb in the guides is blunt: no codice fiscale, no mutuo. Beyond that, expect to provide:

• the last 2–3 years of tax returns from your home country, translated and legalised where required
• recent payslips and an employment contract, or accounts if self-employed
• about 6 months of bank statements covering the deposit and some reserves
• a credit report, and often a foreign credit history report as well
• the seller's title deed, the cadastral plan and the energy performance certificate for the property

Processing is reported at about 8–16 weeks for a resale and longer if the codice fiscale or the valuation causes complications.

What you pay on top of the deposit

• The tax on the loan itself, the imposta sostitutiva, is reported at 0.25% of the loan for a main home and 2% for a second home or investment, which is what most non-residents will pay.
• On the purchase, a resale from a private seller pays 9% registration tax on the cadastral value, and a purchase from a developer pays IVA instead; see our guide to buying new versus resale in Italy.
• Notary fees are reported at roughly €1,500–3,500 for the sale and €1,000–2,500 for the mortgage deed. Bank origination fees and the appraisal are reported at a few hundred to a couple of thousand euro.
• Fire insurance is mandatory and reported at about €150–400 a year; life insurance is optional.
• One source estimates total non-loan closing costs for non-residents at 15–20% of the price. Treat that as a cautious upper range.
• Non-residents are reported to get no mortgage-interest tax relief, unlike Italian residents.

Pitfalls to avoid

• Starting the bank process before you have a codice fiscale.
• Assuming a resident-style 80% mortgage is available to you.
• Leaving foreign documents untranslated or unlegalised.
• Forgetting that the 2% imposta sostitutiva and the 9% registration tax apply to a non-main home.
• Treating a bank appraisal as a legal check on the title, planning status and energy class.

What helps

• Early repayment is reported to carry no penalty on mortgages signed after 2007, but check your own contract.
• A mortgage can reportedly be moved to another lender at no cost if rates fall, a process called surroga.

FAQ

Can a non-resident get an Italian mortgage? Yes, but usually for 40–60% of the value, with more documents than a resident. Do I need a codice fiscale? Yes, before you can sign a mutuo. How big a deposit do I need? Plan on about 40–60% of the price plus purchase costs. Fixed or variable? Both are offered; the right choice depends on your risk tolerance and how long you will hold. Can I repay early? Reportedly without penalty on mortgages signed after 2007, but verify the contract.

How we help

We connect buyers with brokers and banks that lend to non-residents and structure the purchase around realistic financing. This is general information, not financial, tax or legal advice: rates, LTV limits and fees change and differ by lender, so confirm current terms with a licensed broker and an Italian notary or lawyer before committing.