Authored by the expert who managed and guided the team behind the Chile Property Pack
Everything you need to know before buying real estate is included in our Chile Property Pack
Yes, foreigners can get a mortgage in Chile, but the process requires more preparation than most people expect.
Chilean banks will lend to non-residents, though they typically ask for larger down payments and stricter income documentation than they require from locals.
We constantly update this blog post to reflect the latest mortgage conditions, interest rates, and bank policies in Chile.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Chile.
Can foreigners get a mortgage in Chile right now?
Can a foreigner get a residential mortgage in Chile right now?
Yes, foreigners can obtain a residential mortgage in Chile in early 2026, though the approval process typically requires you to demonstrate a financial profile similar to a low-risk local borrower.
Foreigners with Chilean residency, a local RUT (tax identification number), and documented income from a stable source generally have the easiest access to mortgages in Chile.
The most common restriction Chilean banks impose on foreign applicants is requiring a higher down payment, often 30% to 40% of the property value, compared to the 20% typically required from residents.
By the way, we have a whole document dedicated to mortgages for foreigners in our property pack about Chile.
Can I get a mortgage in Chile without residency?
Non-residents can obtain a mortgage in Chile, but banks treat these applications with more caution and typically require stronger financial profiles.
Permanent residents and temporary residents with work visas have the best chances of approval, while non-residents relying solely on foreign income face the strictest requirements in Chile.
Banks most commonly impose higher down payment requirements (30% to 40%) and may request a local guarantor or mandatary when the applicant lacks permanent residency in Chile.
By the way, we've written a blog article detailing residency and citizenship options that exist when you buy property in Chile.
Do banks require a local work contract in Chile right now?
Chilean banks prefer a local work contract because it makes income verification straightforward, but it is not the only path to mortgage approval in Chile.
If you do not have a local work contract, banks in Chile typically accept foreign employment contracts, consistent bank statements showing salary deposits, and tax returns as alternative proof of income.
When a local work contract is present, most banks in Chile prefer to see at least 6 to 12 months of employment history with the same employer before approving a mortgage.
Can self-employed foreigners qualify for a mortgage in Chile?
Self-employed foreigners can qualify for a mortgage in Chile, but banks require more extensive documentation and a longer track record of stable income.
Banks in Chile typically require self-employed applicants to show 12 to 24 months of consistent income history, along with tax returns or accountant-certified statements proving their earnings.
Is foreign income accepted for mortgages in Chile right now?
Yes, some Chilean banks accept foreign income for mortgage applications, especially when that income comes from a reputable employer and arrives through traceable bank channels.
When applicants earn income abroad, banks in Chile typically require translated and notarized employment contracts, several months of bank statements showing consistent deposits, and sometimes a local mandatary to handle paperwork.
Can I buy a primary home (and an investment property?) with a mortgage in Chile as a foreigner?
Foreigners can obtain a mortgage for a primary home in Chile, and banks generally view these applications more favorably because they perceive lower risk of the borrower walking away.
Foreigners can also obtain a mortgage for an investment property in Chile, though banks typically require larger down payments and may apply stricter affordability tests since rental income is often discounted in their calculations.
If you're buying for investment, you might want to check our blog article about buying and renting out in Chile.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Chile versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the eligibility rules banks actually use in Chile?
What minimum monthly income do I need in Chile as of 2026?
As of early 2026, banks in Chile typically require a minimum monthly income of around CLP 800,000 (roughly USD 800 or EUR 750), though this threshold varies depending on the bank and loan amount.
Most approved borrowers in Chile realistically fall into the CLP 1.5 million to CLP 3 million monthly income range (USD 1,500 to USD 3,000 or EUR 1,400 to EUR 2,800), especially for mid-market properties in Santiago.
The minimum income requirement in Chile scales with the property price because banks enforce a strict rule that your monthly mortgage payment must not exceed 25% of your income.
Banks in Chile do allow combining household incomes from multiple applicants, such as spouses or partners, to meet the minimum threshold and qualify for larger loans.
What debt-to-income limit do banks use in Chile right now?
Banks in Chile typically allow a maximum debt-to-income ratio where your mortgage payment does not exceed 25% of your monthly income, with some flexibility up to 30% for very strong profiles.
When calculating this ratio, Chilean banks include all existing debts such as credit card minimum payments, car loans, consumer loans, and any other mortgage obligations you already hold.
Do I need a local credit score in Chile right now?
Chile does not use a single credit score system like the US or UK, so banks instead focus on your Chilean financial footprint, including your banking history, existing debts, and payment behavior.
Foreign credit reports can help as supporting evidence, but they rarely substitute for Chilean bank statements, verified income documentation, and a clear record with local financial institutions in Chile.
Do banks require a local guarantor in Chile right now?
Banks in Chile do not always require a local guarantor, but they may request one when the applicant is a non-resident, has a thin local credit footprint, or relies primarily on foreign income.
Chilean banks are most likely to request a guarantor (called "aval" or "codeudor" in Chile) when the borrower's income documentation is difficult to verify or when the down payment is below the bank's comfort level.
The guarantor must typically be a Chilean resident with stable income, a clean credit history, and sufficient financial standing to cover the loan if the primary borrower defaults.
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How much cash do I need upfront in Chile as of 2026?
What's the minimum down payment in Chile right now?
The minimum down payment for foreign buyers in Chile is typically 30% to 40% of the property value, though residents with strong profiles may qualify for as little as 20% down.
Across different banks and buyer profiles in Chile, down payments realistically range from 20% for well-documented residents to 40% for non-residents relying on foreign income.
Foreigners with Chilean residency, a local work contract, strong documented income, and a Chilean banking history may secure a lower down payment requirement of 20% to 25% in Chile.
What loan terms can I realistically get in Chile as of 2026?
What mortgage interest rates are typical in Chile as of 2026?
As of early 2026, typical mortgage interest rates in Chile hover around 4% to 5% for UF-denominated loans, with the Banco Central de Chile reporting a weighted average of approximately 4.1% in December 2025.
The factors that most significantly influence your interest rate in Chile include your down payment size, income stability, existing debt levels, and whether you have Chilean residency and banking history.
Foreigners in Chile often receive slightly higher interest rates than local residents, typically 0.25% to 0.75% more, because banks perceive higher risk with cross-border borrowers.
The interest rate is one of the factors we look at when assessing whether now is a good time to buy a property in Chile.
Are fixed-rate mortgages available in Chile right now?
Yes, fixed-rate mortgages are available to foreigners in Chile, but "fixed" typically means a fixed interest rate on a UF-denominated loan, which means your peso payment can still rise with inflation.
Banks in Chile commonly offer fixed-rate periods for the entire loan term (often 15, 20, or 25 years), though borrowers should understand that the UF indexation means monthly payments in pesos will adjust as inflation changes.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Chile. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
How do I maximize approval chances in Chile right now?
What financial profile gets "yes" fastest in Chile right now?
The ideal financial profile that gets mortgage approval fastest in Chile is someone with a Chilean RUT, local residency, stable documented income, low existing debt, and a property in a liquid neighborhood like Providencia or Las Condes.
Banks in Chile consider a monthly income of at least CLP 2 million (around USD 2,000 or EUR 1,850) and a debt-to-income ratio below 25% as ideal for fast approval.
Permanent employment with a Chilean company for at least 12 months is most favored by banks in Chile, though stable foreign employment with clear documentation can also work.
A down payment of 30% or more typically signals a strong applicant profile in Chile and significantly increases your chances of quick approval.
We give more detailed tips in our pack covering the property buying process in Chile.
What mistakes make foreigners get rejected in Chile right now?
The most common mistake that leads to mortgage rejection for foreigners in Chile is failing to obtain a RUT (Chilean tax ID) early in the process, which blocks basic contracting and property registration.
The financial red flag that most often disqualifies foreign applicants in Chile is proposing a mortgage payment that exceeds 25% of documented income, since banks strictly enforce this affordability rule.
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Which banks say yes to foreigners in Chile right now?
Which banks are most foreigner-friendly in Chile as of 2026?
As of early 2026, the banks considered most foreigner-friendly for mortgages in Chile include BancoEstado, Santander Chile, and Banco Itaú, all of which have established processes for non-local borrowers.
These banks are more accessible to foreign applicants in Chile because they publish clear mortgage criteria, have experience with cross-border income documentation, and offer dedicated programs for buyers living abroad.
Which banks accept non-resident borrowers in Chile right now?
BancoEstado explicitly offers mortgages to Chileans living abroad (which demonstrates capability for cross-border underwriting), and Santander Chile and Itaú have been known to consider non-resident applications on a case-by-case basis in Chile.
These banks typically impose additional requirements on non-resident applicants in Chile, including higher down payments (30% to 40%), a local mandatary or representative, and more extensive income documentation.
Do international banks lend more easily in Chile right now?
International banks do not necessarily lend more easily to foreigners in Chile than local banks, because what matters most is whether the local entity can verify your income and is comfortable with the property and registration process.
Santander (a Spanish bank with a strong Chilean subsidiary) operates in Chile and offers mortgages to foreigners, combining international brand familiarity with deep local market expertise.
The main advantage of using an international bank for a mortgage in Chile is that they may be more comfortable reviewing foreign documentation and employment contracts from countries where they also operate.
We made this infographic to show you how property prices in Chile compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Chile, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Banco Central de Chile (BCCh) | Chile's central bank publishes official weighted-average lending rates. | We used it to anchor typical mortgage rates as of late 2025. We also tracked rate trends heading into January 2026. |
| BCCh - UF Daily Indicators | Official daily publication for UF, Chile's inflation-indexed unit. | We used it to explain how mortgages are quoted in UF in Chile. We converted UF examples into pesos for income estimates. |
| CMF Educa (Financial Regulator) | Chile's financial regulator provides consumer guidance on mortgages. | We used it to support the 25% debt-to-income rule. We also framed affordability criteria in a regulator-consistent way. |
| SII (Chile's Tax Authority) | Official tax authority FAQ on RUT requirements for foreigners. | We used it to explain the RUT requirement for property purchases. We built the "before you apply" checklist around it. |
| ChileAtiende | Official government services portal with clear eligibility summaries. | We verified that Chilean banks can underwrite foreign income. We used it as proof that cross-border mortgages exist. |
| BancoEstado | Major state-owned bank with published mortgage terms. | We anchored the 25% income rule and LTV ranges. We also referenced their abroad-buyer program for cross-border cases. |
| Banco Itaú Chile | Major bank that publishes minimum income and clear criteria. | We used its CLP 800,000 minimum income threshold. We triangulated the 25% dividend-to-income rule across banks. |
| Banco Santander Chile | Primary mortgage brochure describing actual process steps. | We outlined the real mortgage sequence from application to registration. We identified where delays typically occur. |
| Conservador de Bienes Raíces de Santiago | Official property registry explaining registration steps. | We explained why purchases only complete upon registration. We highlighted this step foreigners often underestimate. |
| CMF Household Debt Report | Regulator publication on household indebtedness in Chile. | We defined "high financial burden" as Chilean regulators measure it. We justified why banks are strict on documented income. |
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