Mortgages and Financing for Foreigners in Casablanca

Yes, as a foreigner, you can obtain a mortgage from a Moroccan bank to purchase real estate in Casablanca. Banks such as CIH Bank, Attijariwafa Bank, Bank of Africa, and Banque Populaire provide loans to non-residents, even if you do not live in Morocco. In practice, the bank finances 50 to 70 percent of the purchase price, which means you must contribute at least about 30 percent of the purchase price in foreign currency, plus any additional costs. The interest rate is typically around 5 to 6.5 percent on a loan in dirhams, while a loan in euros is often lower, ranging from 3.8 to 4.6 percent. In this article, you’ll learn exactly how the financing works, what documents you’ll need, the step-by-step application process, and how to avoid costly mistakes.

Summary: These are the key points

• Foreign nationals can take out loans: Moroccan banks offer mortgages to nonresidents.
• LTV 50 to 70 percent: The bank will finance part of it, and you'll cover the rest yourself.
• Personal contribution: Expect at least about 30 percent in foreign currency, plus fees.
• Interest: approximately 5 to 6.5 percent in dirhams, or 3.8 to 4.6 percent on a loan in euros.
• Convertible dirham account: You make payments through a special account funded with foreign currency.
• Banks: CIH Bank, Attijariwafa Bank, Bank of Africa, and Banque Populaire.
• Documents: Often apostilled; life insurance is usually required.

Can foreigners get a mortgage in Casablanca?

Foreign buyers can easily take out a mortgage in Morocco, even if they do not live in the country and do not have Moroccan citizenship or a Moroccan spouse. Moroccan banks provide loans to non-residents because foreign buyers represent a significant segment of the Casablanca real estate market. Just as you are free to purchase real estate, you may also finance part of the purchase with borrowed funds. In doing so, the bank will assess your income, your existing financial obligations, and the value of the property you are purchasing. Because, as a foreigner, your profile differs slightly from that of a local buyer, certain specific conditions apply, such as a higher down payment and repayment through a special account. These conditions are discussed one by one in this article.

It’s important to understand that getting a mortgage in Morocco isn’t a given. The bank will carefully assess your ability to repay the loan and will want assurance that you can cover the monthly payments in addition to your existing expenses in your home country. A stable income, a reasonable debt-to-income ratio, and a clearly documented down payment will significantly improve your chances. Be sure to also read our A Complete Guide to Buying Real Estate in Casablanca to give you the full picture regarding the buying process, neighborhoods, and types of homes, so you can put your financing in the right context.

Interest Rate, LTV, and Down Payment

The three factors that determine your financing are the interest rate, the loan-to-value (LTV) ratio, and your down payment. The interest rate is what you pay annually on the amount borrowed; the LTV is the percentage of the purchase price that the bank finances; and the down payment is the portion you contribute yourself. For foreign buyers, the LTV typically ranges between 50 and 70 percent, which means you must contribute at least about 30 percent of the purchase price yourself. On top of that, there are additional costs, which the bank does not normally finance. The table below summarizes the key figures.

The interest rate therefore clearly varies depending on the currency in which you borrow. A loan in dirhams carries a higher interest rate, around 5 to 6.5 percent, while a loan in euros is generally lower, around 3.8 to 4.6 percent. That difference may seem significant, but the choice between the two depends on more than just the interest rate—such as currency risk. Later in this article, we’ll take a closer look at the pros and cons of a loan in dirhams versus a loan in euros, so you can make an informed choice that suits your situation.

Why Your Own Contribution in Foreign Currency Matters

A crucial detail for foreign buyers is that your own down payment in foreign currency must enter the country. This is not only a requirement of the bank, but also important for your future rights. If you finance the purchase and the mortgage payments with funds that can be proven to originate from outside Morocco, you can, in principle, transfer the proceeds back abroad in the event of a sale—a process known as repatriation. Therefore, do not bring your down payment in cash or through indirect means, but rather via official bank transfers in euros or another hard currency, so that everything is properly documented and you can retrieve your money later without any problems.

The convertible dirham account

One of the most distinctive features of financing for foreigners is the convertible dirham account, known in French as a “compte en dirhams convertibles.” This is a special bank account into which you deposit foreign currency, which is then converted into dirhams. Your purchase, your loan payments, and other payments related to the property are processed through this account. The major advantage is that this account documents the origin of your funds: since it can be proven that the funds are in foreign currency, you retain the right to repatriate the capital and returns at a later date. For this reason, virtually every foreign buyer who takes out a mortgage opens such an account with the financing bank.

In practical terms, you transfer euros or another currency from your home country to your convertible dirham account in Casablanca. The bank converts this amount into dirhams at the prevailing exchange rate and uses it for the purchase and the monthly payments. Keep in mind that the exchange rate between the euro and the dirham can fluctuate, which affects the amount in dirhams that you ultimately have available. By transferring currency in a timely manner and at the right times, you can maintain some control over this and prevent unfavorable exchange rate fluctuations from putting pressure on your budget.

Which banks provide financing to foreigners?

Several major Moroccan banks are accustomed to assisting foreign buyers and often have separate departments dedicated to this purpose. The best-known banks that provide mortgages to non-residents are CIH Bank, Attijariwafa Bank, Bank of Africa, and Banque Populaire. Each of these banks has its own terms and conditions, interest rates, and procedures, so it’s worth comparing quotes before making a decision.

• CIH Bank: active in real estate financing and accustomed to working with international clients.
• Attijariwafa Bank: one of the country's largest banks, with an extensive branch network.
• Bank of Africa: Experienced in dealing with international clients and wire transfers.
• Banque Populaire: has a strong presence within the Moroccan community abroad.

When comparing these banks, don’t just look at the interest rate—consider the full cost picture: the application fees, the required insurance, the terms regarding early repayment, and the flexibility of the loan term. A slightly lower interest rate can actually end up costing more in practice if the additional fees are higher. Ask each bank for a clear simulation that includes the monthly payment, the total cost of the loan, and all additional charges, so you can compare like with like and choose the option that’s truly the cheapest.

What documents do you need?

When applying for a mortgage as a foreigner, the bank will request a series of documents to assess your identity, your income, and your ability to repay the loan. Because you live abroad, these documents often require an apostille—an international legalization that certifies a document’s authenticity. Keep in mind that obtaining and apostilling documents takes time, so be sure to start this process well in advance. The exact list varies by bank, but generally speaking, you’ll need the following:

• A valid ID or passport.
• Proof of income, such as pay stubs or a statement from an employer; for self-employed individuals, this is often annual financial statements.
• Recent bank statements showing your financial situation.
• An overview of your existing loans and obligations.
• Documents related to the property to be purchased, such as the preliminary purchase agreement.
• Versions of the official documents that are often apostilled and sometimes translated.

Submit the documents in a complete and organized manner, as an incomplete file is the most common cause of delays. Ask your bank in advance for a detailed checklist and verify which documents need to be apostilled or certified as official translations. This will prevent you from having to return to authorities in your home country halfway through the process. A well-prepared application not only speeds up the review process but also instills confidence in the bank, which strengthens your negotiating position regarding the terms and conditions.

The Application Process, Step by Step

The financing process typically follows a set pattern, from the initial simulation to the final disbursement. By understanding the sequence, you’ll know what to expect and can adjust your purchase plans accordingly. The main steps look something like this:

• Orientation and Simulation: Request a simulation of the monthly payment and the terms from several banks.
• Agreement in Principle: Based on your profile, the bank will give preliminary approval for the loan amount.
• Submit an application: You submit all the documents—often with an apostille—and the bank reviews your application.
• Appraisal of the property: The bank has the property appraised to determine the LTV.
• Final offer: You will receive a loan offer that includes the interest rate, term, and insurance.
• Convertible account and insurance: You open the account and purchase the requested insurance.
• Signing and Payment: The loan is linked to the deed drawn up by the notary.

Be prepared for this process to take anywhere from a few weeks to a few months, especially if documents need to be obtained from abroad and apostilled. Adjust the deadlines in your purchase process Work toward this goal so that the financing is in place by the time you need to sign the final deed. Otherwise, a delay in financing could hold up the entire purchase process and, in the worst-case scenario, put your down payment at risk. Therefore, start early and stay in close contact with both your bank and your notary.

A loan in dirhams or in euros?

An important decision is whether to take out a loan in dirhams or in euros. Both have advantages and disadvantages, and the right choice depends on your personal situation and your risk tolerance. A loan in euros typically has a lower interest rate, ranging from 3.8 to 4.6 percent, while a loan in dirhams has a higher rate, ranging from 5 to 6.5 percent. At first glance, a loan in euros seems more advantageous, but the interest rate isn’t the only factor to consider.

Currency Risk

Anyone who earns in euros and borrows in euros does not face any currency risk on the loan itself, because income and repayments are in the same currency. If, on the other hand, you borrow in dirhams but earn in euros, the exchange rate between the two currencies comes into play: if the dirham appreciates against the euro, your effective monthly payment will increase. Conversely, a favorable exchange rate can actually work to your advantage. This currency risk is not a reason to avoid taking out a loan in dirhams, but it is something you should consciously factor into your decision, especially for a long-term loan.

How to Choose

Weigh the lower interest rate on a euro loan against your desire for certainty regarding your monthly payments. Also take rental income into account if you’re renting out the property: that income is in dirhams, which in some cases makes a loan in dirhams a more logical choice. Discuss both scenarios with your bank and have them run a simulation for each, so you can compare the monthly payment and the total cost of the loan. An independent financial advisor can help you assess the currency risk and choose the option that best suits your situation and your plans.

Insurance with a Mortgage

When taking out a mortgage in Morocco, the bank almost always requires life insurance, also known as debt balance insurance. This insurance pays off the remaining loan balance if you die during the term of the loan, so that your surviving relatives are not left with the debt and the bank has security. The premium depends on your age, your health, and the amount borrowed, and is often paid monthly along with your loan payment. Be sure to factor these costs into your calculations, as they increase your total monthly payment and are usually required in practice to secure the loan.

In addition to life insurance, the bank may also require home insurance that protects the property itself against damage caused by, for example, fire. Read the terms and conditions of each insurance policy carefully and check whether you are required to purchase the insurance through the bank itself or if you are allowed to choose your own provider. Sometimes, by comparing rates, you can save on your insurance premium, which can add up to a significant amount over the entire term of the loan. So always factor in the insurance costs when comparing the total financing costs across different banks.

Sample Calculation: Apartment Priced at 2,000,000 MAD

A concrete example illustrates how much of your own money you’ll need. Suppose you’re buying an apartment for 2,000,000 MAD and the bank is financing 60 percent through a mortgage. In that case, you’ll borrow 1,200,000 MAD and contribute 800,000 MAD yourself—that is, 40 percent. On top of that, there are additional costs that the bank does not cover. The table below shows an approximate breakdown of these costs.

In this example, you’ll contribute approximately 800,000 MAD as your own capital, plus about 120,000 to 160,000 MAD in additional costs that you’ll pay yourself. In total, you’ll need to be able to come up with nearly one million dirhams in personal funds, while the bank finances the rest. If you’d like to know exactly what those additional costs consist of, read our article on the expenses, notary fees, and taxes. Please note that, for an LTV of 70 percent, the bank requires a slightly lower down payment, while for an LTV of 50 percent, it requires a higher one, depending on your profile and the property.

How can you increase your chances of securing financing?

Applying for a mortgage as a foreigner goes more smoothly when you are well-prepared and inspire confidence in the bank. By taking a few targeted steps to prepare, you can increase your chances of receiving a favorable offer. The following points will help you do that:

• Make sure you have a complete and apostilled application package before you submit your application.
• Demonstrate a stable income and a healthy debt-to-income ratio.
• Deposit your own funds in foreign currency via official wire transfers, providing proof of the transaction.
• Compare multiple banks based on the total cost, not just the interest rate.
• Be sure to factor the additional costs and the insurance premium into your budget.

Combine this financial planning with a solid understanding of the legal aspects of the purchase. For example, check whether the property has a registered title deed (Titre Foncier) because a property with an unclear or unregistered title is often difficult or impossible to finance. After all, a bank will only grant a mortgage on real estate with a legally sound title. By ensuring that financing and legal due diligence go hand in hand, you lay a solid foundation for a safe and smooth purchase in Casablanca.

Common Mistakes You Should Avoid

• Forgot that the additional costs are not covered and must be paid out of pocket.
• Do not contribute your own capital in a foreign currency in a way that cannot be verified, as this will make repatriation difficult later on.
• Comparing only the interest rates and overlooking the insurance premiums and processing fees.
• Starting the financing process too late, resulting in the apostilled documents not being ready on time.
• Wanting to finance a property without a registered title, which banks usually refuse to do.

Frequently Asked Questions

As a foreigner, can I get a mortgage in Casablanca?

Yes. Moroccan banks such as CIH Bank, Attijariwafa Bank, Bank of Africa, and Banque Populaire offer mortgages to non-residents, even if you do not live in Morocco or have a Moroccan partner.

How much of my own contribution do I need?

You should expect to contribute at least about 30 percent of the purchase price in foreign currency, since the bank typically finances 50 to 70 percent. On top of that, there are additional costs that you’ll have to pay yourself.

What is the interest rate on a mortgage in Morocco?

A loan in dirhams typically carries an interest rate of about 5 to 6.5 percent, while a loan in euros often has a lower rate, ranging from 3.8 to 4.6 percent. The exact interest rate depends on the bank and your profile.

What is a convertible dirham account?

This is a special account into which you deposit foreign currency, which is then converted into dirhams. You use this account for purchases and repayments, and it serves as proof that your funds originate from outside Morocco, so that you can repatriate them later.

What documents do I need to submit the application?

Typically, a passport, proof of income, recent bank statements, a list of existing loans, and documents related to the property. For foreign nationals, these documents are often apostilled and sometimes translated.

Is insurance required when taking out a mortgage?

In practice, the bank almost always requires life insurance and sometimes also home insurance. Be sure to include these premiums in your monthly expenses and compare the terms and conditions offered by different providers.

Should I borrow in dirhams or in euros?

A loan in euros usually has a lower interest rate, but if you borrow in dirhams while earning an income in euros, you’ll be exposed to currency risk. Have a simulation run for both options and make your choice based on your income, your rental income, and your risk tolerance.

Please note: The prices, rates, and taxes listed are estimates based on public sources (2026) and may vary by neighborhood, project, and time. Always have the exact amounts confirmed by your notary, bank, or real estate agent before entering into any commitment.