Qualifying for a Mortgage in Italy: Residents vs. Non-Residents
For those eyeing Italian property, mortgages are available for both residents and non-residents. Non-residents can expect a Loan to Value Ratio (LTV) of 60% with interest rates between 2% to 3%. The property should be habitable and solely residential. Financial health, including a good net asset position and low debt to income ratio, is crucial. Residents, regardless of nationality, enjoy better mortgage terms with LTVs up to 90%. Government incentives now offer significant tax breaks on home renovations. High Net Worth Individuals can access specialized short-term loans. A vital tip: align the property title owner with the mortgage signee to maximize interest deductions. For more insights, ‘Invest in Italy’ offers tailored advice on the Italian property market.