How are Turkish mortgage payments calculated?

Turkish konut kredisi loans amortise using the standard annuity formula, where each monthly payment is fixed and the interest portion shrinks over time. Banks usually quote a monthly rate, the aylik faiz, which this tool derives from the annual rate you enter by dividing by twelve.

What is the loan-to-value limit in Turkey?

The banking regulator BDDK generally caps loan-to-value at about 90% for standard residential homes up to a value threshold, meaning you must fund at least a 10% deposit. Higher-value or second properties face tighter limits, so the tool flags when your deposit falls short of the usual cap.

What are KKDF and BSMV?

KKDF and BSMV are statutory levies that Turkish banks fold into the effective cost of consumer and housing credit. They push the real cost above the headline nominal rate, which is why this calculator notes that the lender's full APR is typically higher than the rate you enter.

Why are Turkish mortgage rates so high?

Turkey has experienced high inflation, so nominal interest rates have risen sharply, with variable rates tracking central-bank policy and at times exceeding 40%. In more stable periods fixed rates have been lower. Always enter a current quoted rate, because the figure moves substantially with policy.

Does this account for variable rate changes?

No. The calculator assumes a fixed rate for the whole term. Many Turkish mortgages are variable and reprice over time, so if your rate can change, treat the result as a snapshot at the current rate and re-run it whenever the bank adjusts the rate.

Turkey Mortgage Calculator

Email me this result

Get this tool's output sent to your inbox, plus one useful tool a week. No spam, unsubscribe any time.

The Turkey Mortgage Calculator models a konut kredisi so you can see the monthly payment and total interest on a Turkish home loan. Turkish lending has its own conventions: banks quote a monthly rate (aylik faiz), the regulator BDDK caps loan-to-value at around 90%, and statutory KKDF/BSMV levies sit on top of the headline rate.

How it works

The tool subtracts your deposit from the price to find the loan amount, then amortises it with the standard annuity formula. With loan P, monthly rate r (the annual rate divided by twelve) and n monthly payments, each payment is:

M = P × r / (1 − (1 + r)^−n)

It also computes your loan-to-value — the loan as a percentage of the price — and flags it against the 90% BDDK cap, since most standard homes require at least a 10% deposit. The monthly rate is shown explicitly because Turkish banks advertise in aylik faiz rather than an annual figure.

Loan-to-value = loan ÷ price. Monthly payment follows the annuity formula on the loan at the monthly rate.

Example and notes

On a 3,000,000 TRY home with a 900,000 TRY deposit, the loan is 2,100,000 TRY at a 70% loan-to-value — comfortably inside the cap. At a 36% annual rate (3% per month) over 10 years, the monthly payment is large and most of the early payments are interest, as the amortisation maths dictates.

This is an estimate at a fixed rate. Turkish mortgages are often variable and reprice with policy, and the lender’s true cost includes KKDF and BSMV beyond the nominal rate. Confirm the bank’s full APR and current rate before committing.