At Bluesky, we are often asked by internationally mobile clients, particularly U.S.-based individuals,  whether it’s possible to arrange a French mortgage without earning income or holding assets in euros. The answer is yes. In fact, not only is it possible, but it is increasingly common among globally positioned buyers acquiring property in France for investment, vacation use, or future repatriation.

Below, we outline the key parameters that apply, the strategic advantages of euro-denominated borrowing, and the practicalities Non resident clients should understand before proceeding.

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French Mortgages Are Available Without Euro Income

French banks are open to non-resident borrowers, including U.S. citizens and residents who earn in dollars or other non-euro currencies. There is no requirement to earn income in euros to qualify for a mortgage in France. However, French lenders do conduct a rigorous affordability assessment to ensure that foreign income is sufficiently stable and that the borrower has adequate capacity to service the loan in euros.

Lenders will assess your global income, liabilities, and often expect you to maintain a debt-to-income ratio below approximately one-third of gross monthly income. Supporting documentation — typically including Tax Teturns, proof of salary or dividends, and bank statements — will be required, and the underwriting process can be more detailed than borrowers are accustomed to in their home jurisdictions.

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Loan-to-Value: Up to 85% is Achievable

For non-resident clients, borrowing up to 85% of the property’s purchase price is feasible. This upper range is generally reserved for borrowers with strong financial profiles and applies to both classic residential mortgage products. US residents can borrow up to 75% of the purchase price.

In some cases, particularly where the borrower demonstrates significant disposable income or a robust asset base, retail banks can offer up to 80-85% loan-to-value (LTV) without requiring assets under management. The remaining 15-25% of the purchase price — along with notary fees and related acquisition costs — must be funded from the borrower’s own resources.

There is no obligation to deposit financial assets with the lending bank, although certain private banking arrangements may offer more favourable terms in exchange for such a commitment. Many of our clients, however, secure high-LTV loans without tying up liquidity.

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Strategic Advantages of Borrowing in Euros

Opting for a euro-denominated mortgage — even as a non-euro earner — offers a suite of financial benefits that are often underestimated.

1. Interest Rate Arbitrage

French mortgage rates remain comparatively attractive in the global context. Even amid fluctuations in the European Central Bank’s policy stance, long-term fixed mortgage rates in France are generally lower than equivalent products in markets such as the U.S. or UK. This can translate into meaningful cost savings over the life of the loan.

2. Long-Term Fixed Rate Stability

French lenders are well known for offering fixed-rate terms of 15, 20 or even 25 years. This provides repayment certainty and shields borrowers from future interest rate volatility — an increasingly valuable feature in today’s macroeconomic climate.

3. Currency Alignment

By borrowing in euros against a euro-denominated asset, you reduce currency mismatch risk. This alignment means the loan liability and the underlying asset move in parallel. In effect, your exposure to adverse exchange rate movements is limited to monthly repayments, not the full capital value.

4. Tax Efficiency

Financing a French property through debt can be more tax-efficient in some cases, particularly for clients with exposure to French wealth tax (Impôt sur la Fortune Immobilière). Mortgage liabilities reduce the net taxable value of the property, which can offer significant long-term advantages for portfolio planning and inheritance structuring.

5. Preserving Liquidity and Investment Flexibility

Using leverage to acquire French property enables clients to retain capital in other investments. This is especially pertinent in an environment where global equities, private markets, or yield-generating assets may offer superior returns relative to the cost of debt.

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What to Expect in Practice

While the financing environment is favourable, the process demands preparation. Documentation must be comprehensive and precise. Lenders will expect clarity on income streams, personal liabilities, and the source of funds for the deposit. The timeline to secure a mortgage approval typically ranges from four to eight weeks, depending on the complexity of the case.

Clients should also account for potential currency fluctuations when planning repayments, though mechanisms such as forward contracts or multi-currency banking facilities can help mitigate this risk.

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The Bluesky Finance Perspective

For globally mobile clients and expatriates, financing French real estate with a euro mortgage — even without euro income — is not only viable but strategically advantageous. Our team specialises in structuring such solutions, ensuring access to competitive terms while preserving financial flexibility and mitigating cross-border complexity.

If you are considering acquiring property in France, we recommend an early-stage conversation with our specialists to assess feasibility and begin positioning your profile for optimal mortgage terms.