Summary
Yes, but mostly if you live in Chile: the banks' published lending conditions we checked in October 2026 ask foreigners for permanent residence (two years of it at Banco Consorcio) and income earned in Chile.
Without residency, a regular Chilean mortgage is a long shot. No major bank publishes a product or a rate for a non-resident foreigner, so plan to pay cash or borrow at home.
Banks want documented, stable income: Banco Consorcio asks for 18 months in your current job, Banco Security for two years of documented income (and five years in the same activity if you aren't a university-trained professional).
The key affordability rule is simple: your monthly mortgage payment can't go above 25% of your net income, and total debt payments are capped around 30% to 45% depending on the bank.
Minimum incomes vary a lot: CLP 600,000 a month at Banco Consorcio, but more than 120 UF (about CLP 4,940,000) at Banco Security.
Banks lend up to 80% of the lower of price or appraisal for a main home, and Banco Security caps second homes and investment properties at 70%. As a foreigner, plan for 30% to 40% down.
The average rate on new UF mortgages was 4.07% in September 2026 (Banco Central de Chile), down from a 4.82% average in 2024. No bank publishes a special rate for foreigners.
Rates have been stuck around 4% all year (3.96% in May, 4.07% in September) because the central bank has held its policy rate at 4.50% since December 2025 and inflation is still 4.1%.
The FOGAES scheme, for a first home only, can cut about 1 point off the rate and lower the deposit to 10% on new homes up to 6,000 UF, but we found no confirmation that foreigners qualify.
On a 4,000 UF apartment with 80% financing over 25 years at 4.07%, you pay about 17 UF a month and need about 68 UF of monthly net income to pass the 25% rule.
Budget extra cash on top of the deposit: the stamp tax alone is 0.8% of the loan, and all-in buying costs with a mortgage run about 1% to 2% of the price.
The banks most used to foreign residents are the big ones (BancoEstado, Santander, Itaú, Banco de Chile, BCI), but the bank's rules matter more than its brand. Get your RUT, permanent residence and Chilean payslips in order first, then shop the CAE (the all-in cost) at three or four banks.
Ask an agent who knows
Chile, for free.
They know how buyers here really pay.
Message a proWho can get a Chilean mortgage: residency, income and job rules
Can a foreigner get a residential mortgage in Chile right now?
Yes, foreigners can get a residential mortgage in Chile in 2026, but in practice the banks want you to look like a low-risk local borrower.
That means a RUT (Chile's tax number), residence in Chile, and documented income earned in Chile. Banco Security's published access conditions, for example, say a foreign applicant needs "residencia definitiva" (permanent residence) and income generated in Chile; Banco Consorcio asks for at least two years of permanent residence.
The most common extra hurdle for foreign applicants is a bigger deposit. Banks publish a maximum of 80% financing for a main home, so even a strong local needs 20% down; foreigners should plan for 30% to 40%.
Can I get a mortgage in Chile without residency?
It's hard. None of the major banks publishes a mortgage product for a foreigner who doesn't live in Chile, and the conditions we read ask for permanent residence and Chilean income.
Permanent residents have the best chances. Temporary residents with a Chilean work contract sometimes get a yes, case by case. Non-residents relying only on foreign income face the longest odds.
If a bank does look at your file, expect a much bigger deposit (30% to 40% or more) and possibly a local guarantor or a "mandatario" (someone with power of attorney to sign for you in Chile).
Don't be misled by BancoEstado's program for buyers living abroad: it is for Chilean citizens living overseas, not for foreigners.
Do banks require a local work contract in Chile right now?
Mostly, yes. Chilean banks prefer a local work contract because it makes income easy to check, and their published conditions are written around Chilean income.
Foreign employment contracts, bank statements showing salary deposits and foreign tax returns can support a file, but they rarely replace Chilean income on their own.
Job tenure matters. Banco Consorcio asks for an indefinite-term contract with 18 months in your current job (or 24 months of continuous work), and Banco Security wants two years of documented income.
Can self-employed foreigners qualify for a mortgage in Chile?
Yes, but it takes more paperwork and a longer track record than for an employee.
Banco Security, for instance, asks applicants to be a university-trained professional or to have worked in the same activity for at least five years, with two years of documented income. Expect to show Chilean tax returns (boletas de honorarios or company accounts), not just foreign ones.
Is foreign income accepted for mortgages in Chile right now?
Sometimes, but don't count on it. Some banks will consider foreign income from a solid employer that arrives through traceable bank transfers, usually as a complement to Chilean income or residency.
If you try, prepare translated and legalized (apostilled) employment contracts, several months of bank statements showing regular deposits, and a local mandatario to handle the paperwork. And remember the exchange-rate risk: the loan is in UF, your income isn't.
Can I buy a primary home (and an investment property?) with a mortgage in Chile as a foreigner?
Yes. A main home is the easiest case, because banks see it as lower risk and lend the most against it (up to 80% at Banco Security and Banco Consorcio).
For a second home or an investment property, banks lend less: Banco Security caps it at 70%, so you put at least 30% down. Banks also tend to discount expected rent when they check whether you can afford the loan.
What are the eligibility rules banks actually use in Chile?
What minimum monthly income do I need?
It depends a lot on the bank. Banco Consorcio asks for a net income of at least CLP 600,000 a month (USD 615), while Banco Security asks for more than 120 UF (about CLP 4,940,000, or USD 5,060).
In real life, the price of the home sets your income, not the bank's floor. Take a 4,000 UF apartment (CLP 165 million, or USD 169,000) with 80% financing over 25 years at 4.07%: the payment is about 17 UF a month (CLP 700,000), so you need about 68 UF of net monthly income (CLP 2,800,000, or USD 2,870) to stay under the 25% rule.
Banks generally let you add up household incomes, such as a spouse's, to qualify for a bigger loan.
What debt-to-income limit do banks use in Chile right now?
The mortgage payment (the "dividendo") can't go above 25% of your net income. That's written into the published conditions of both Banco Security and Banco Consorcio.
Banks also cap all your debt payments together: 30% of net income at Banco Security, 45% at Banco Consorcio. That total includes credit cards, car loans, consumer loans and any other mortgage, so clear small debts before you apply.
Do I need a local credit score in Chile right now?
Chile doesn't use a single credit score like the US or UK. Banks look at your Chilean footprint instead: banking history, existing debts and how you've paid them.
A foreign credit report can help as supporting evidence, but it rarely replaces Chilean bank statements, verified income and a clean record with local lenders. Opening a Chilean bank account and using it for a year before applying helps.
Do banks require a local guarantor in Chile right now?
Not always. A bank may ask for one when you're not a permanent resident, have a thin local history or rely mostly on foreign income.
The guarantor is called an "aval" or "codeudor". Banks ask for one most often when your income is hard to verify or your deposit is below what they're comfortable with.
The guarantor typically has to be a Chilean resident with stable income, a clean credit record and enough means to cover the loan if you don't pay.
Ask an agent who knows
Chile, for free.
They know which homes sell fast and which sit for months.
Message a pro
How much cash do I need upfront in Chile?
What's the minimum down payment in Chile right now?
The published floor is 20% for a main home, because banks lend at most 80% of the lower of the price and the appraisal. BancoEstado advertises up to 90% for some borrowers, but that's a ceiling for its best local profiles, not something a foreigner can count on.
For a second home or investment property it's at least 30% at banks like Banco Security (70% cap). As a foreigner, plan for 30% to 40% down; a lower deposit usually needs permanent residence, a Chilean job and a Chilean banking history.
Watch the appraisal: if the bank values the apartment below the price you agreed, the 80% applies to the lower figure and you cover the gap in cash.
Then add buying costs. There's no transfer tax in Chile, but with a mortgage you pay the stamp tax (impuesto de timbres y estampillas) of 0.8% of the loan amount, plus notary, registry, appraisal and title-study fees. On a 3,200 UF loan the stamp tax alone is about 25.6 UF (CLP 1,050,000). All in, buying with an 80% mortgage costs about 1% to 2% of the price, more if you pay a broker (usually 2% plus 19% VAT).
What rate and loan terms can I realistically get in Chile?
What mortgage interest rates are typical?
The average rate on new UF mortgages was 4.07% in September 2026, according to Banco Central de Chile. Most offers land around 4% to 5% depending on your profile.
What moves your rate: deposit size, income stability, existing debt, loan term, and whether you have Chilean residency and a banking history with the lender.
No bank publishes a special rate for foreigners. Your rate is quoted case by case, so get several written offers and compare the CAE (carga anual equivalente), the all-in yearly cost banks have to show you, not just the headline rate.
The rate is one of the things we look at when deciding whether now is a good time to buy in Chile.
Are fixed-rate mortgages available in Chile right now?
Yes, and they're the norm. But "fixed" means a fixed rate on a loan in UF, and the UF rises with inflation every day, so your payment in pesos goes up over time.
Banks commonly fix the rate for the whole loan, with terms of 15 to 30 years (BancoEstado goes up to 30). With inflation at 4.1% over the 12 months to September 2026, a payment of 17 UF costs you about 4% more in pesos a year later.
Ask an accountant in
Chile, for free.
Monthly payment, taxes, fees: the full picture.
Message a proAre mortgage rates in Chile coming down in 2026?
Not much. The average UF mortgage rate was 4.12% in January 2026, dipped to 3.96% in May and was back at 4.07% in September (Banco Central de Chile). That's well below the 4.82% average of 2024, but the big drop is behind us.
The reason: the central bank has held its policy rate at 4.50% since December 2025, and inflation was still 4.1% in September 2026, above the 3% target. On October 27, 2026, the central bank held its rate at 4.50% again and pointed to rising inflation risks; its next meeting is on December 15. Don't wait for 3% mortgages.
What to do: lock a fixed UF rate when you have a good offer, ask each bank to beat the others' written quote, and check the early-repayment terms in case rates do fall and you want to refinance later.
Can a foreigner use the FOGAES mortgage subsidy in Chile?
FOGAES is the government guarantee and rate subsidy for people buying their first home, widened by Law 21.748 (published August 17, 2026). It now covers new homes priced up to 6,000 UF (USD 253,000, up from 4,000 UF before), can cut the mortgage rate by about 1 percentage point and lets eligible buyers put down as little as 10%. It runs until May 31, 2028 or until the money runs out.
On the 4,000 UF example above, 1 point less (3.07% instead of 4.07%) brings the payment from about 17 UF to about 15.3 UF a month.
The catch for foreigners: the scheme is for individuals buying their first home through a participating bank, so not for a second home or a rental, and the bank still has to approve the loan. We found no official confirmation that foreigners qualify, so if you live in Chile with permanent residence, ask the bank directly before you sign a promesa on a new apartment.
One more thing to time: from December 1, 2026, developers can choose to sell some finished new homes without VAT for a year under the new reconstruction law. Ask whether the unit you want is covered before you commit.
Ask a lawyer in
Chile, for free.
They check the title and the rules before you pay anything.
Message a pro
How do I maximize approval chances in Chile right now?
What financial profile gets "yes" fastest in Chile right now?
The fastest yes goes to someone with a RUT, permanent residence, a Chilean employer, low debt, and a property in a liquid area like Providencia or Las Condes.
Income-wise, keep the payment under 25% of your net income: on the 4,000 UF example, that means a net income of about 68 UF a month (CLP 2,800,000) or more.
An indefinite contract with a Chilean company for at least 18 months is what banks like most. Age matters too: Banco Security lends from 25 to 65 and wants the loan paid off by 80; Banco Consorcio wants your age plus the loan term under 75.
A deposit of 30% or more makes you a much stronger applicant and speeds things up.
What mistakes make foreigners get rejected in Chile right now?
The classic mistake is not getting a RUT early. Without it you can't open an account, sign the deed or register the property.
The financial red flag that most often kills an application is a payment above 25% of documented income. The second is applying before you have permanent residence, when the bank's own conditions require it.
Also: signing a promesa (promise to buy) before you have a written pre-approval. If the loan falls through, you can lose your deposit.
Which banks say yes to foreigners in Chile right now?
Which banks are most foreigner-friendly?
The big banks see the most foreign residents: BancoEstado, Santander Chile, Banco de Chile, BCI and Itaú. None of them publishes a dedicated mortgage for foreigners, though.
What makes a bank "friendly" is its written rules. Banco Consorcio, for example, publishes its conditions for foreigners clearly (two years of permanent residence), so you know where you stand before applying. Ask any bank for its "condiciones objetivas de acceso al crédito" and read the line on foreigners first.
Which banks accept non-resident borrowers in Chile right now?
We found none that publicly offers mortgages to non-resident foreigners. BancoEstado's program for buyers abroad is for Chilean citizens only, and the conditions we read at other banks require permanent residence.
Some banks may look at a non-resident file case by case, usually for clients who already bank with them. If that's you, expect a 30% to 40% deposit or more, a local mandatario and full documentation of your income and assets.
Do international banks lend more easily in Chile right now?
Not really. What matters is whether the Chilean bank can verify your income and is comfortable with the property, not where its head office is.
Santander Chile (owned by the Spanish group) and Itaú (Brazilian) are the main foreign-owned lenders. They follow the same Chilean rules on residency, income and the 25% payment cap as local banks.
The one real advantage: if you already bank with the same group at home, they may be more at ease reading your foreign documents. It's worth asking your home branch for an introduction.
Our methodology
This article explains who can get a mortgage in Chile as a foreigner, what banks ask for (residency, income, deposit, age), what rates and terms look like in 2026, and what a loan really costs upfront.
We built the eligibility rules from the "condiciones objetivas de acceso al crédito" that Chilean banks publish, the average rate from Banco Central de Chile's monthly housing-loan series, and the worked example (a 4,000 UF apartment, 80% loan, 25 years) with our own calculation.
Tax and fee rules come from the SII (stamp tax and RUT), the Conservador de Bienes Raíces de Santiago (registry fees), MINVU (FOGAES) and Ley 21.850 (VAT relief on new homes).
We checked these figures in October 2026. We converted amounts at about 977 Chilean pesos per US dollar and 1,099 pesos per euro, and used a UF value of about CLP 41,200 (SII, October 22, 2026).
Limits: banks change their conditions without notice and decide case by case, so published rules are a floor, not a promise. No bank publishes a rate or a product for non-resident foreigners, and the 30% to 40% deposit is a planning range, not an official figure.
Key sources used for this analysis include Banco Central de Chile, CMF Educa, SII, ChileAtiende, BancoEstado, Banco Security, Banco Consorcio, MINVU (FOGAES), Conservador de Bienes Raíces de Santiago and CMF's household debt report.
Ask an agent who knows
Chile, for free.
They know which streets are loud at night and which feel safe.
Message a pro
