TRNC First Home Mortgage Loan 2026 | Conditions, Interest Rate & Application Guide
TRNC First Home Mortgage Loan 2026 Has Started: Conditions, Interest Rate and Application Details
The First Home Mortgage Loan Package 2026, introduced for citizens who want to buy their first home in Northern Cyprus, has come into effect. With its favorable interest rate, tax exemptions, and high loan limit, this package provides an opportunity for low and middle-income citizens to become homeowners.
What is the First Home Mortgage Loan?
The First Home Mortgage Loan is a special financing package created to support individuals purchasing their first property in the TRNC.
Who Can Apply?
- No property ownership under applicant, spouse, or children under 18 in TRNC
- No property sale after 24 July 2022
- Must be over 18 years old
- Must be registered with Social Insurance or a public institution with at least 6 months of premium payments, or be retired
- Must be a TRNC citizen and resident in TRNC
- Monthly household income must not exceed 300,000 TL
- Must not have previously benefited from First Home Mortgage Loan schemes
Loan Limit and Details
- Maximum loan amount: 3,300,000 TL
- Up to 80% of property value
- Currency: Turkish Lira
Application Date
Applications started on 23 February 2026.
Interest Rate and Term
- Monthly interest rate: 1.75%
- Annual interest rate: 21%
- Maximum term: 120 months (10 years)
- Equal monthly installment plan
- Interest rate is fixed for the entire term
Who Cannot Benefit?
- Individuals with overdue debts
- Individuals under cheque restriction
- Purchases between first and second-degree relatives
Fees and Tax Advantages
- Banks cannot charge additional commissions or fees beyond interest
- Stamp duty is exempt
- Tax, fees, and charges on title transfer are exempt
How is the Loan Used?
- Loan is paid directly to the seller
- No cash payment to borrower
- Secure transaction via bank
Required Documents
- Title search document
- Title deed or sales contract
- Property valuation report
- Social insurance and contribution documents
- Residency certificate from local authority
- Income declaration
- Insurance policy (including earthquake insurance)
Important Notes
- Loan can only be used for residential property purchase
- If used for other purposes, support is cancelled
- Property cannot be sold before loan is fully repaid
Sources / Referenceshttps://www.kktcmerkezbankasi.org/sites/default/files/IV.%20%C4%B0lk%20Evim%20Konut%20Kredisi%20Paketine%20%C4%B0li%C5%9Fkin%20Usul%20ve%20Esaslar_0.pdf
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