Can Foreigners Get a Mortgage in Spain?
Yes, foreigners can get a mortgage in Spain, even as non-residents. Spanish banks offer mortgage options to international buyers, but terms differ from those available to Spanish residents.
How Much Can You Borrow?
- Non-residents: typically 60% to 70% of the purchase price or appraised value
- Residents: up to 80%
Loan amounts depend on your income, existing debts, and the bank's policy.
What Documents Do You Need?
- NIE number (Spanish tax ID)
- Proof of income (payslips or tax returns)
- Bank statements (3–6 months)
- Copy of passport
- Credit report from your home country
Mortgage Application Process
- Initial pre-qualification
- Property appraisal
- Formal application to the bank
- Approval and signing at the notary
What Are the Costs Involved?
- Notary fees
- Registration tax
- Bank fees (approx. 1%)
- Total cost: 2.5% to 4% of the loan amount
Which Banks Offer Mortgages to Foreigners?
- Banco Sabadell
- CaixaBank
- Bankinter
You can also work with a mortgage broker who specializes in helping foreign buyers.
Key Considerations and Risks
- Fixed vs. variable interest rates
- Currency risk if income is not in euros
- Mandatory insurance products
Why Work with a Local Advisor Like Spainora?
- Guidance in English and Dutch
- Trusted network along Costa Blanca & Costa del Sol
- Experience with non-resident mortgages
Free Mortgage Check
Curious how much you can borrow? Get a free eligibility check by contacting us today.