Polish mortgage for Americans – EU citizens – Credit in Poland for foreigners

You can get a Polish mortgage to buy real estate in Poland, if you are from the USA or from the EU. However the requirements are more. You might even be a Polish citizen like me with US-based income and the scenario is different than if you are a Polish guy working in Poland with a work contract. You basically need a larger down payment. The purpose of this post is to give you a little more detail based on my personal experience.

Polish mortgage home Poland
Polish house in the countryside – old fashion style

Here are some Polish real estate words: – hipoteka – the Polish word for Mortgage or Kredyty (not uncountable like in English) or Doradca Finansowy, kredyty hipoteczne, pożyczki which is the Polish language word for loan, etc.

This is the way you get a Polish mortgage

  1. having Polish income – just like in the USA (credit check income proof small down payment)
  2. having EU income – like a normal mortgage above, but need to take additional steps. So if you are a Polish guy working in London lets say, you need more money down and proof from your employer and a few extra things and a larger percentage down.
  3. having USA or no non-EU income – Most banks do not touch this but a few do. I recommend going through some special companies that search for mortgages for you, some mortgage brokers in Poland, like Expander. expander.pl – but they are young sales agents guiding your towards their banks, but still they work. bnpparibas.pl

Where to get credit in Poland for real estate

I guess I recommend to try a bank like BNP Paribas, first the Polish subsidiary, not the parent in France.

I think they are pretty good and they do these types of loans in Poland. They are pretty nice and professionals that work there know what they are talking about.

Citibank Poland does not do these types of loans even for Americans, surprise.

Basically the first answer when you look around at bank or call place will be no.

Even Banks that do these loans will tell you no because the people that working are like this, are just low-level clerks, like postal workers and they are really whatever and do not want to be bothered or do not know their job outside of the ordinary day to day tasks.

For example, I asked at a bank where my American friend just got approval and did his loan in Poland and the manager told me ‘we never have done or will do this type of load’ her assistant was nodding in the background. Then I told them that my friend just did, right here. They still said no and gave a nasty look.

This is Poland. People will give you definitive answers even though they have not research it further (communism did this I think). The reason I tell you this is to tell you yes you can, do not give up.

You can get a loan but you need to really look around. For a non-Polish loan, you will need about 100,000 pln as a down payment, maybe 50,000 your target home is not too expensive. But that is only 30,000 us dollars. If you have this doors open. But Poland is not poor Poland anymore and US incomes and bank accounts do not impress, so foreigners getting loans in post a post economic crisis world have a hard time now.

This is in start contrast with 2007 before the real estate bust in Poland and the world where you walk into any bank and you would get 110% loan.

What you need to a Polish mortgage as a foreigner

  • 100,000 Polish zloty down payment
  • Then you will need to show your source of income from your US tax return and or employer. Then a US credit check. If your source of income is large they may lower the down payment. So it is easy except they require a large down payment.
  • Take your age, the total years of the mortgage is shorter, they take it and subtract it from like 65 and that is the maximum length of the mortgage you can take. Remember mortgage comes from the Latin word ‘mort’ and you know that that means.

An alternative is take a personal loan in the USA and use it to buy something in Poland but that is really not enough money or a high interest rate. Also look into UK banks or US banks that finance foreign property, but in this market, everyone wants not only proof of income but a large down payment if you are going to buy the new four letter word in financing that is Real Estate.

Building instead of buying a home in Poland – self finance with a stream of income

Also consider building and home and doing it in stages, it may take like 5 to 7 years but you can pay cash. This is what we are considering doing. Let me know if anyone has questions of need clarification on Polish mortgages and financing.

I think the idea of a dream place in Poland is a good dream and it is our dream too, to have a home in the USA and a cottage in Poland. I just think you have to either pay for building it in cash over many years, which we might do, have 30,000 USD to put down and good USA income, or buy a cheap place in the Polish countryside and fix it up.







16 responses to “Polish mortgage for Americans – EU citizens – Credit in Poland for foreigners”

  1. Mark Biernat

    Maybe I am wrong about the capital requirements but if you have foreign income rather than a Polish contract the bank in this credit environment will want to see a reasonable down payment as there is an over supply of inventory of houses on the Polish real estate market.

    1. Liam Duncan

      Hi, I have bought a house in Nysa and get all my money from my British pensions should I transfer my income to MBank or leave it in my UK bank ?

      1. Mark Biernat

        It is up to you. I would leave it with your current bank. I would put some money in Mbank for spending money but you do not need to unless there is a specific reason. I always used my credit or debit card with withdrawals once in a while for cash or cash back.

        1. Liam Duncan

          My wife is Polish and as we are both in Our 60’s. We have enough Polish Family to answer the question I was just unsure of who I could trust when I asked the question ! It has taken so long to get the answer I think this phone is faulty By the Way. I am British .
          So America is of no interest to me aT 66.

  2. Fleur

    Mark, would you recommend some good website for real estate? Thank you.

    1. Mark Biernat

      http://www.tecnocasa.pl/ try starting with this and Gumtree, I have had good experiences with both, let me know what you think of these.

  3. Luke

    Because of the very hight risk of a sudden escalation of the conflict in Ukraine I expect real estates prices in all adjacent countries fall during the next year, Poland ahead, so that I prefer to be rather cautious.

  4. Gerry

    My wife and I are planning to move to Poland at the end of this year and were wondering what we need as capital for a down payment on a flat in Krakow. She is Polish and I have my EU citizenship through my Greek heritage. Do you think that I am at an advantage with Polish banks if I can show value in Europe?

    1. Mark Biernat

      The same rules apply as any other country. Either you pay in cash or you will have to finance. If you get financing from a bank you will need to show income at a rate they seem high enough to make a payment plus extra based on your disposable income after obligations.

      The percent down will vary like every country based on your circumstance. For a safe number I would put down 20%. You also need money for closing costs. I am a Realtor in the US and the first step to buy a home is not to find one but get approval from a bank for a loan amount unless you are paying cash. But either way you are going to need proof of funds. What you put down on the house depends on what you can work with the bank and to some extent can be based on your credit score.

  5. Grigor

    American here married to a Pole. We want to move back and are trying to get a mortgage with my American salary. No success yet. We will contact the two sources you suggested, so far we only got answers that it is simply not possible.

    1. Mark Biernat

      I recommend that you start to build a house. You can buy bricks and build it yourself. My family did this. I would do this even in the USA. The days of getting a huge mortgage are over. If you really must, I know Americans that have bought in Poland, you just have to prove your US income and your down payment will be higher.

  6. BlancAngel213

    My wife and I have had a very difficult time with obtaining a mortgage in Poland. I am American and she is a Polish citizen. I receive two pension from the US federal government which is paid monthly in USD. The first being from Social Security and the second from the US Department of Veteran Affairs (I’m a military veteran). My wife is a homemaker so we live solely on my income. Despite having two US based incomes, there has been no Polish bank willing to consider giving us a mortgage because my income comes from abroad and is paid in USD. I’d be grateful if somebody could please share some advice or perhaps give their personal experience in successfully obtaining a mortgage being a retired US citizen in Poland. We are not interested in paying in cash or securing a personal loan in the US because the interest rates are simply unfavorable compared to a traditional Polish mortgage. This loan would allow us to have a longer repayment term while at a lower interest rate. It is in our best interest to find a way to make this happen either through a Polish bank or through an international bank who is willing to finance Polish real estate. I’d love to hear some expert advice as we are becoming increasingly frustrated with being unable to purchase our much needed home. We are looking to purchase in either Warsaw or Krakow. Thank you very much.

    1. Anat

      Hi…pls advise if you were able to get a mortgage in Poland,and which Bank agreed to give one. Thank you!

      1. Mark Biernat

        Any bank as long as you have a good credit history and income to show.

        1. BlancAngel213

          No luck unfortunately. Polish banks do not accept income coming from the USA if you’re a foreign national. If you hear anything I’d love to know.

  7. BlancAngel213

    Did you have any luck with this? I’m in a similar situation receiving receiving monthly Social Security and VA benefits.

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