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Financing

Karma Developers cooperates with all the major Banking Institutions in Cyprus. Mortgage loan facilities are available to all nationalities subject to fulfilling specific criteria. An estimated finance facility can be seen below:

Description Loan Proposal for Non EU Residents for a purchase of a holiday home Loan Proposal for Locals for a purchase of a holiday home Loan Proposal for locals for a purchase of a home for permanent residency
Maximum Loan Amount 84,000 euros for an apartment 280,000 euros for a villa 84,000 euros for an apartment 280,000 euros for a villa 96,000 euros for an apartment 320,000 euros for a villa
Loan Duration Minimum Loan Duration 10 years Maximum Loan Duration 20 years or until the age of 65 years old of the applicant Minimum Loan Duration 10 years Maximum Loan Duration 20 years or until the age of 65 years old of the applicant Minimum Loan Duration 10 years Maximum Loan Duration 30 years or until the age of 65 years old of the applicant
Early Repayment In case of early settlement of the loan and if the interest rate is fluctuating, there will not be any charges for early settlement In case of early settlement of the loan and if the interest rate is fluctuating, there will not be any charges for early settlement In case of early settlement of the loan and if the interest rate is fluctuating, there will not be any charges for early settlement
Expenses Documentation Fees, Mortgage loan stamp fees, Mortgage fees Housing Insurance Loan Insurance Documentation Fees, Mortgage loan stamp fees, Mortgage fees Housing Insurance Loan Insurance No fees for documentation Housing Insurance Loan Insurance
Interest Rates* 2.21% + 2.25% = 4.46% 2.21%+1.25% = 3.46% 2.21%+0.75%=2.96%

*(Interest rate varies and the applicable rate is available always on the day of the official application to the Banking Institution) Conditions governing the drawdown The amount of the loan will be at your disposal provided that your loan application is approved and that all the necessary documents are signed and that all conditions are met in accordance with the Bank’s decision.