Your dollars are welcome. They are just not counted at face value.
US buyers rarely fail a Spanish mortgage on income. They fail on paperwork, on currency treatment, and on the assumption that a strong American profile translates one-to-one into a Spanish credit file. It does not — but it does translate.
Three things that are different for a US applicant
- FATCA and the paper trail. Spanish banks are obliged to identify US persons and report accordingly. Expect a W-9, IRS transcripts and, for self-employed applicants, several years of returns. This is administrative friction, not a rejection reason — but it costs weeks if it starts late.
- A haircut on dollar income. Income earned in USD against a loan denominated in EUR carries exchange-rate risk, and lenders price that risk by discounting the income before they calculate affordability. A salary that easily carries the instalment on paper can come out tighter after the discount.
- Source of funds, in detail. The larger the equity transfer, the more precisely the money's origin must be documented. Proceeds from a company sale, a stock plan or an inheritance all work — provided the chain of evidence is complete before the money moves.
Non-resident financing, planned in the right order
As a non-resident you finance against the Spanish property, typically up to 70 % of the lower of purchase price and valuation. Purchase costs — transfer tax or VAT, notary, registry, legal — come on top and are not financeable.
The order matters more than the rate: get the file assessed before you sign the private contract, not after. A US buyer who signs first and asks the bank second has 10 days to solve a problem that takes six weeks.
Why the valuation decides your cash What the purchase really costs
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A first conversation costs nothing, and our fee — 1 % of the loan actually arranged — is only ever due if the financing completes.