CALCULATOR FOR PRE-APPROVAL MORTGAGE IN SPAIN AND PORTUGAL
Planning to invest in property in Spain or Portugal? Whether you're a resident or non-resident, understanding how much you can borrow for a mortgage is essential. Use our user-friendly mortgage calculator to get a quick estimate based on your circumstances.
How It Works:
Select Your Residency Status: Choose whether you're a resident or non-resident.
Enter Property Details: Input the property's purchase price or valuation.
Discover Your Borrowing Limit: Get an estimate of how much you can borrow.
Consider Additional Costs: Factor in fees and taxes for a comprehensive budget.
For Residents of Spain:
Residents can typically secure mortgages covering up to 80% of the property's purchase price or valuation. This means that if you're a resident, you may need to provide a down payment of 20% of the property's value.
For Non-Residents Buying Property in Spain:
Non-residents purchasing property in Spain generally face different conditions. The maximum amount non-residents can borrow is typically capped at 70% of the property's purchase price or valuation. Additionally, non-residents might encounter higher interest rates and shorter repayment terms compared to residents.
Fees and Taxes in Spain:
When buying a property in Spain, it's essential to budget for various fees and taxes, which can be approximately 12% of the purchase price. These costs typically include:
Notary Fees: For the legal aspects of the property transaction.
Property Registry Fees: To ensure the property is properly registered.
Value Added Tax (VAT): Applicable to new properties, currently set at 10% (rate may vary).
Transfer Tax (ITP): Applicable to resale properties, varying by region (6% to 10%).
Other Costs: Legal fees, property valuation fees, and mortgage arrangement fees (if applicable).
These additional expenses should be considered on top of the down payment to create a thorough financial plan for your property investment.
Make informed decisions about your Spanish property investment by calculating your mortgage eligibility with our tool.
How It Works:
Select Your Residency Status: Choose whether you're a resident or non-resident.
Enter Property Details: Input the property's purchase price or valuation.
Discover Your Borrowing Limit: Get an estimate of how much you can borrow.
Consider Additional Costs: Factor in fees and taxes for a comprehensive budget.
For Residents of Spain:
Residents can typically secure mortgages covering up to 80% of the property's purchase price or valuation. This means that if you're a resident, you may need to provide a down payment of 20% of the property's value.
For Non-Residents Buying Property in Spain:
Non-residents purchasing property in Spain generally face different conditions. The maximum amount non-residents can borrow is typically capped at 70% of the property's purchase price or valuation. Additionally, non-residents might encounter higher interest rates and shorter repayment terms compared to residents.
Fees and Taxes in Spain:
When buying a property in Spain, it's essential to budget for various fees and taxes, which can be approximately 12% of the purchase price. These costs typically include:
Notary Fees: For the legal aspects of the property transaction.
Property Registry Fees: To ensure the property is properly registered.
Value Added Tax (VAT): Applicable to new properties, currently set at 10% (rate may vary).
Transfer Tax (ITP): Applicable to resale properties, varying by region (6% to 10%).
Other Costs: Legal fees, property valuation fees, and mortgage arrangement fees (if applicable).
These additional expenses should be considered on top of the down payment to create a thorough financial plan for your property investment.
Make informed decisions about your Spanish property investment by calculating your mortgage eligibility with our tool.
Check Our Mortgage Offers!
Down Payment: 20.00%
Minimum Down Payment required: 20% of the property value.
The down payment is too low for the selected residency status!
Mortgage Simulation Summary
Monthly Payment:
0 EUR
Loan Principal:
0 EUR
Total Interest:
0 EUR
Interest Rate:
3.50%
Loan Duration:
30 years
Total Repayment Amount:
0 EUR
* Purchase tax (ITP/IVA) and notary/registration fees vary by autonomous community in Spain and typically range between 6% and 10%.
