As Redstone Island, we have compiled the details of the First Home Mortgage, renewed in 2025, for those wishing to become homeowners in Northern Cyprus for the first time.
This year has presented a great opportunity for TRNC citizens dreaming of home ownership. The First Home Mortgage 2025 is back with both a higher income limit and more attractive loan conditions!

So, who can benefit from this loan package? What are the interest rates, term duration, application conditions, and required documents? Here are all the details:

🎯 What is the First Home Mortgage?

The First Home Mortgage is a low-interest, long-term housing finance package specially offered to citizens who will become homeowners in the TRNC for the first time. This loan, implemented in 2023 and 2024, has been updated to cover a wider audience as of 2025.

✅ Who Can Apply?

Those wishing to benefit from this loan package must meet the following conditions:

• Be a citizen of the TRNC and over 18 years of age,

• The applicant, their spouse, or children under 18 must not own a property registered in the TRNC,

• Must not have transferred property after July 24, 2022,

• Must be registered in the social security system and have paid premiums for the last 6 months,

• The total net household income must not exceed 250,000 TL.

⚠️ Only one person from the same household can apply.

❌ Who Cannot Benefit?

The following situations are obstacles to the loan:

• Having benefited from the I. or II. First Home packages before,

• Having overdue debts or being subject to a check ban,

• Purchasing property from a first or second-degree relative.

💰 Loan Limit and Payment Conditions

• Loan upper limit: 2,200,000 TL

• Finance ratio: 80% of the housing value

• Term duration: 120 months (10 years)

• Interest rate: Monthly 1.75% (Annual 21%) – fixed

• Currency: Turkish Lira

• Payment: Bank cheque or direct payment to the seller's account

💸 Costs and Tax Advantages

This loan package offers significant financial advantages:

• No commission, stamp, mortgage tax, or deed transfer fees are charged,

• No additional fees are requested aside from the interest,

• These exemptions seriously reduce the total cost.

🏦 Banks Offering Loans

15 banks participate in the loan:

• Akfinans Bank Ltd.

• Albank Ltd.

• Asbank Ltd.

• Creditwest Bank Ltd.

• Kapital Bank Ltd.

• Vakıflar Bankası Ltd.

• Cyprus Turkish Cooperative Central Bank

• Limassol Turkish Cooperative Bank

• Novabank Ltd.

• Şekerbank (Cyprus)

• T.C. Ziraat Bankası

• Türkiye İş Bankası

• Türk Bankası

• Türkiye Halk Bankası

• Yakın Doğu Bank Ltd.

📑 Required Documents

The following documents are requested during the application:

• A document stating “there are no properties registered in the household” from the Land Registry and Cadastre,

• Title deed or sales contract for the property to be purchased,

• Real estate appraisal report,

• A village document showing household information,

• Social security premium statement (last 6 months),

• Household income declaration,

• Property insurance policy covering earthquake risk.

📝 Take One Step Closer to Your Dream Home!

There is an unmissable opportunity this year for those who have postponed home ownership. The 2025 First Home Mortgage makes owning property in the TRNC more accessible with its low interest, long term, and tax-free advantages.

📞 Contact us for more information and application support.