Can foreigners get a mortgage (주택담보대출) in Korea?

Yes, foreigners can get a mortgage (주택담보대출) in Korea, though it is somewhat harder than for citizens and depends heavily on your visa and income. The most important factor is residency status: holders of F-2, F-5 (permanent residency), or F-6 (marriage) visas are generally treated much like Korean nationals, while those on work visas like E-7 can often still qualify but may face more scrutiny, a shorter term, or a larger required down payment. Beyond the visa, banks want stable documentable income and employment, a Korean bank account and some credit history, and the property as collateral.

The loan amount is capped by government loan-to-value (LTV) and debt-service (DSR) rules that change with housing policy and by region, so depending on the area and price you might borrow roughly 40 to 70 percent of the value, meaning a substantial down payment. Interest rates for qualified foreign borrowers are broadly similar to those for locals, with fixed and variable options that move with the base rate, so check current numbers when you apply. Practically, start with a major bank (KB, Shinhan, Woori, Hana) or one with a foreign-customer desk, bring your ARC, proof of income and employment, tax records, and property details, and compare terms at a couple of banks. Because the rules are policy-sensitive and paperwork-heavy, a Korean-speaking friend or a mortgage broker helps, and be prepared that a shorter-term work visa may get less favorable terms than an F-visa.