Mortgage in Poland for the Polish Diaspora: Why Income Currency Matters and What Your Options Are (2026)

You earn in dollars, pounds, or euros and want to buy an apartment in Poland with a mortgage? It is possible – but it works differently than most of the Polish diaspora assumes. The most important rule that advertisements do not mention: Polish law requires that the mortgage be in the currency in which you earn. If you earn in USD, you will not get a regular PLN mortgage – you need to look for a bank offering a currency mortgage, and there are few of those. This guide explains step by step: what the law says, what banks require from foreign incomes, how much it costs, what your rights are (early repayment, withdrawal), and what alternatives exist if a Polish bank refuses.

Last verification: July 20, 2026. Informational material – not a credit or legal advice. Bank offers, interest rates, and government programs change rapidly; compare current offers and consult an advisor before making a decision.

In Brief

Why You Won't Get a Regular PLN Loan

Article 6, section 1 of the mortgage law from 2017 (t.j. Dz.U. 2025 poz. 720) states explicitly: a mortgage can be granted only in the currency (or indexed to the currency) in which the consumer earns the majority of their income or holds the majority of their financial resources or other assets. This is not a bank policy, but a law – a consequence of lessons learned from Swiss franc loans.

• If you earn in USD and do not have the majority of your assets in PLN → the bank cannot give you a loan in PLN; theoretically, it could in USD.
• Market realities (status: July 2026): currency mortgages are offered by a single bank and only in EUR (Pekao withdrew from euro loans on June 9, 2025); there are practically no offers in USD or GBP. For those earning in dollars or pounds, a Polish mortgage may currently be unattainable – unless the majority of their income or assets are in PLN.
• The “assets” loophole: if the majority of your assets (savings, real estate) are valued in PLN, the law allows for a PLN loan despite earning in USD – banks assess this individually.
• Right to change currency: if your income shifts to another currency (e.g., you return to Poland), you can request currency conversion of the loan at the average NBP exchange rate (art. 6, sections 2–3).

In practice, this means three paths for the diaspora:

What Banks Require for Foreign Incomes

• Income documents: employment contract, recent payslips, tax returns (in the USA: W-2 and tax returns for 1–2 years), bank statements – all with sworn translation.
• Credit history: Polish BIK does not see your foreign loans – banks ask for a credit report from the country of residence (e.g., American credit report).
• Tenure and form of employment: preferably an indefinite contract with at least 6–12 months of tenure; self-employment abroad can be disqualifying.
• Account in a Polish bank and usually a personal visit when signing the contract (some banks allow a proxy with a notarized power of attorney – check in advance).
• Income haircut: banks calculate capacity cautiously – foreign income may be accepted with a reduction, and installments tested at a higher rate.
• Down payment from abroad: prepare source documents for funds (statements, sale agreement, inheritance documents) – AML is standard for larger transfers.

Your Rights Under the Mortgage Law

Interest Rates in 2026: Fixed or Variable, WIBOR or POLSTR

• NBP Rates: the reference rate is 3.75% (last decrease: March 2026, unchanged since April). Loan interest = reference rate + bank margin.
• Indicator exchange ongoing: POLSTR is the successor to WIBOR, published by GPW Benchmark since June 2, 2025. According to the roadmap updated on June 30, 2026: new contracts based on WIBOR only until the end of 2026, from 2027 new variable-rate loans will be based on POLSTR, and WIBOR for old contracts will be published until the end of 2036. If you take a loan at the turn of 2026/2027 – ask which indicator it is based on and what the contract provides in case it disappears.
• Fixed or variable: every bank must offer a periodically fixed rate (min. 5 years) – you buy predictability of the installment at the cost of usually higher starting interest; you can also switch from variable to fixed during the contract. With a currency loan, the interest depends on the rates of that currency, not NBP.

Down Payment and LTV

• KNF Recommendation S: typically 20% down payment (LTV 80%), acceptable 10% with insurance for the missing down payment.
• For currency mortgages and foreign incomes, banks set their own, stricter thresholds – realistically 30–40% down payment.
• Recommended repayment period up to 25 years (maximum up to 35).
• Every bank must offer a loan with a periodically fixed rate (min. 5 years) – consider it in case of interest rate uncertainty.

Costs Beyond the Installment

• Bank commission (0–2%), property valuation (several hundred PLN), interim insurance until the mortgage is registered, property insurance (assignment to the bank), sometimes life insurance.
• PCC for establishing a mortgage: 19 PLN (claim of unspecified amount) – submitted with the deed or PCC-3.
• Mortgage registration in the land and mortgage register: 200 PLN (court fee).
• When purchasing: notary fee, ownership registration 200 PLN, PCC 2% (secondary market) – full breakdown in our guide on PCC tax.
• Paying from abroad? With a currency loan, you can pay installments directly in the loan currency – you do not need to convert through the lending bank; compare exchange rates of banks, fintechs, and SWIFT/SEPA transfers, as the spread makes a real difference over 25 years of monthly payments.

Government Programs and Support – Status as of July 2026

There are no statutory “credit holidays” – the program ended on December 31, 2024.

Step by Step: From Idea to Keys

1. Check Which Banks Lend in Your Currency

   The list of banks with currency mortgages is short and variable – call their centers or use an intermediary from the KNF register, indicating right away: “income in USD/GBP/EUR, I live abroad.”

2. Gather Documents in Advance

   Income certificates, payslips, tax returns, credit report, passport/PESEL – with sworn translations. A complete set shortens the process by weeks.

3. Obtain a Promise / Preliminary Decision

   Before you pay the deposit! In the preliminary agreement, stipulate the condition of obtaining the loan.

4. Application and Decision in 21 Days

   After completing the application, the bank has a statutory deadline for the decision and must provide you with an information form for comparison.

5. Loan Agreement and Notarial Deed

   Plan your arrival or arrange with the bank for a power of attorney. At the notary: purchase deed + statement on establishing the mortgage.

6. Mortgage Registration and Start of Repayment

   Until the registration in the land and mortgage register, you pay interim insurance. Set up a standing transfer/order in the loan currency.

Common Mistakes

• Searching for a PLN loan with income in USD – the law does not allow this; do not waste weeks on banks that will refuse by definition.
• Deposit before the promise – without a credit condition in the preliminary agreement, you risk losing it.
• Incomplete foreign documents – lack of translations and credit report is the most common reason for delays in the process.
• Ignoring currency risk – an installment in EUR with expenses in USD (or a future return to Poland with an installment in USD) is a real exposure.
• Focusing only on the margin – compare APR and related costs from information forms.
• Forgetting about conversion costs when making monthly payments from a foreign account.
• Believing in “government programs” from headlines – check what is actually in force (section above).

Frequently Asked Questions

I live in the USA and earn in dollars. Will I get a loan in PLN?

As a rule, no – art. 6 of the law allows for a loan only in the currency of the majority of your income or assets. Exceptions: you have the majority of your assets in PLN or you take a loan with a co-borrower earning in PLN (the bank will assess the income structure together). Currently, Polish banks practically do not offer loans in USD – a real alternative is financing in the USA and purchasing for cash.

Do I need Polish citizenship to get a loan?

No – creditworthiness and collateral matter. However, a non-EU foreigner may need permission from the MSWiA to purchase a house or plot (apartments are exempt) – and without a valid title to the property, there will be no loan.

How much down payment do I need?

Formally 20% (10% with insurance). With foreign incomes and currency mortgages, banks usually expect 30–40%.

Can I arrange the loan entirely remotely?

The application and analysis – largely yes. Most banks require personal signing of the loan agreement or through a proxy with a notarized power of attorney (establish the bank's policy at the outset). The purchase notarial deed can be signed by a proxy.

What happens to my loan if I return to Poland and start earning in PLN?

You have the statutory right to request a change of loan currency when the majority of your income shifts to another currency (art. 6, section 2) – the conversion occurs at the average NBP exchange rate on the application date, without a spread. A EUR loan repaid from a Polish salary can thus be converted to a PLN loan.

Is it more beneficial to borrow in the USA and buy in Poland for cash?

Often yes – HELOC/refinancing can be faster and cheaper procedurally, and in Poland, you buy as a cash buyer (stronger negotiating position). Disadvantages: collateral on assets in the USA, currency risk during transfer, interest rates not always lower. Calculate both options.

Where can I complain about a bank or intermediary?

File a complaint with the bank, then Financial Ombudsman (free of charge) and KNF. You can check the intermediary in the KNF register.

Fact-Check Summary

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