Spanish mortgage calculator: how to get one in Spain, affordability for non-residents
5 questions on income, equity, debt-to-income ratio, age and paperwork status. At the end: a rough read — green, amber or red — for Spain and Portugal separately.
How do I get a mortgage in Spain as a non-resident, and how realistic is it?
How realistic a mortgage in Spain is for a non-resident is typically decided by five factors: type of income, equity ratio, debt-to-income ratio (the 35% rule), age at the end of the term, and the status of your paperwork, above all the NIE or NIF. Spain usually lends non-residents up to 70 % loan-to-value.
A rough self-assessment, not a bank review and not a financing commitment. Actual feasibility depends on the bank's full review — including the property (e.g. a finca on rústico land: only 50–70% loan-to-value), creditworthiness in detail, and current terms.
What does the readiness check show, and what do the colours mean?
Five questions on income, equity, debt-to-income ratio, age and paperwork give a rough green, amber or red read for Spain and Portugal separately, not a bank review or a financing commitment.
What do the colours mean? Green: the profile fits the standard non-resident pattern.
Amber: financeable through a narrower, targeted pool of banks. Red: the standard route usually doesn't fit, but a specialised structure — such as a second-charge mortgage on a German property — often still works.
Mortgage in Spain: what decides the result?
Type of income, equity ratio, the 35 % debt-to-income rule, age at end of term (loans normally repaid by 75, the younger borrower's age counting) and paperwork status (NIE in Spain, NIF in Portugal). Spain lends non-residents up to 70 %, Portugal up to 80 %. Getting your NIE.
Your situation in 5 questions: Each answer counts points. At the end: a rough traffic light — not a bank review, not a financing commitment.
Employees and the self-employed alike usually reach up to 70 % loan-to-value in Spain and up to 80 % in Portugal; for the self-employed, however, the bank asks for more documents and takes longer to review.
The check shows which of the five factors is currently holding your case back — and that is the one to resolve before you start looking for a property.
Keep this result: which checklist matches it?
The check gives you a read. For the bank meeting, the right paperwork counts. We'll send you the PDF checklist for Spain, Portugal or both — free, no sales pressure.
Open the PDF directly — no form: Spain property purchase checklist — mortgage documents (PDF, 4 pages) · Portugal mortgage checklist — documents for non-residents (PDF, 4 pages)
Calculator, requirements and age limit: These three pages go with the check: the mortgage calculator, the requirements in detail and the age limit for the mortgage.
Sample financing for a purchase price of €100,000: how do you scale Spain and Portugal to your price?
The sample calculation is based on a purchase price of €100,000 — you can extrapolate this to your own price.
The bonificación (rate discount) requires linked products such as a current account and insurance policies; the ongoing costs of these can eat into the interest rate benefit, either in full or in part. Repayment: Full repayment loan (Volltilgerdarlehen).
| Item | Spain | Portugal |
|---|---|---|
| Loan (loan-to-value) | €70,000 (70 %) | €80,000 (80 %) |
| Basis for the loan-to-value | lower of purchase price and tasación | lower of purchase price and avaliação |
| Own share of the purchase price | €30,000 (30 %) | €20,000 (20 %) |
| Purchase costs (not financeable) | €10,000–13,000 (10–13 %): ITP/AJD, notary, land registry, lawyer — by region | €10,000–11,000 (10–11 %): IMT (7.5 % for non-residents), stamp duty, notary, registry |
| Total own funds | €40,000–43,000 | €30,000–31,000 |
| Monthly instalment with bonificación | approx. €368 (2.4 % fixed, 20 years) | approx. €478 (3.85 % fixed, 20 years) |
| Monthly instalment without bonificación | approx. €402 (3.4 % fixed, 20 years) | approx. €510 (4.60 % fixed, 20 years) |
What do the five questions show as a rough compass?
The check doesn't replace a bank review — it shows which of the five levers is most likely holding things back.
At amber or red, it's rarely the whole constellation that's the problem, but usually one single factor: often the debt-to-income ratio, because many non-residents underestimate their existing German obligations at first glance. Green means: the constellation fits the standard pattern.
Red means: the standard route finds no lender, but that is not the end of the purchase — usually it needs a specialised structure, such as a second-charge mortgage on a German property as additional equity.
Type of income: Employees on a permanent contract fit the banks' standard grid. For the self-employed, knowing in advance that the bank works from taxed profit, not turnover, changes how the documents are prepared. What exactly counts, how rental income is weighted and where the pitfalls lie: Mortgage for the self-employed.
Equity: The purchase costs always come on top and are not financed; work out both for your specific region with the purchase costs calculator. Anyone who owns a paid-off property can also raise missing equity by borrowing against it — ten sample calculations show how this structure works.
Debt-to-income ratio: Because German obligations count, a small instalment paid off before the application sometimes changes the ratio more than additional equity. What a given net income can carry overall is shown on the page Purchasing power by net income (DE).
Paperwork: Apply for the NIE (Spain) or the NIF (Portugal) as early as possible — both are required before the mortgage application can proceed. The self-disclosure form shows in advance which fields the bank asks for: requests for further documents are the most common reason a financing drags on for weeks.
What does the check deliberately not examine?
Two things are left out because they depend not on you but on the property. First, the valuation: the lower of the purchase price and the valuation is financed. If the Tasación is below the purchase price, you pay the difference out of your own pocket, however green your traffic light is.
Second, the type of property: a finca on suelo rústico is lent against much more cautiously, and with a new build the Spanish mortgage only comes into being on completion; the construction instalments before that are in effect equity. The bank examines both on the specific property, not on the questionnaire.
And the third point that no self-test can take over: the choice of bank. The same constellation that one bank declines is approved by another; especially with amber, it is often not the ratio that decides but who is asked. This is exactly where success-based brokerage comes in: the case is checked in advance, and you pay only on completion.
What can I do if my age at the end of the term does not fit? The loan generally has to be repaid by age 75; with two borrowers, the younger one counts. A narrow no often becomes a yes if a younger second borrower is entered in the land register as well. A mere co-signature is not enough; the smaller share must be at least 10 %.
What does the brokerage cost? With success-based brokerage, the case is checked in advance and you pay only on completion.
Frequently asked questions
Does red mean financing isn't possible?
No. Red means the standard route for non-residents usually doesn't fit — not that no bank will finance it. Especially for self-employed applicants, a high debt-to-income ratio, or higher age, there are special structures, such as a second-charge mortgage on an existing German property. The check shows which lever to work on first.
Why do Spain and Portugal give different results?
Because the usual loan-to-value cap differs — typically up to 70% in Spain and up to 80% in Portugal for non-residents. With the same equity ratio, the same amount therefore stretches further in Portugal.
Why does the debt-to-income ratio carry so much weight?
Because Spanish and Portuguese banks usually apply the 35% rule for non-residents: the new instalment plus all existing obligations must not exceed 35% of net income. German loans or lease instalments count too — often overlooked.
What are the five factors covered by the check?
Type of income (employed or self-employed), equity ratio, debt-to-income ratio based on the 35 % rule, age at the end of the term, and the status of your documentation, particularly your NIE or NIF. The check reveals which of these factors is currently holding your application back.
What if I'm self-employed and land in the red on several questions?
Then a personal conversation is especially worthwhile. Self-employed applicants already face higher hurdles (up to 70% loan-to-value in Spain as for employees, but more documents, a longer review and a higher rate) — several weak factors together rarely balance out through a single lever.
What counts towards the debt-service ratio?
The new instalment plus all existing obligations, divided by net income, with a limit of 35 %. German obligations count too, such as car leasing, consumer loans and running property loans.
What is the loan-to-value ratio for employees and the self-employed?
In Spain, both employees and the self-employed can usually secure a loan-to-value ratio of up to 70 %, while in Portugal the figure is up to 80 %. The self-employed must have completed three full tax years, and the bank bases its calculations on taxable profit, not turnover.
Can I get a mortgage in Spain if I do not live there?
As a rule, yes. The question is not whether, but on what terms and with which bank.
What do green, amber and red mean?
Green means the constellation fits the standard grid. Amber means financeable, with a narrower, targeted choice of bank. Red means no bank can be found through the standard route; a special solution is usually needed.
Does the check replace the bank's assessment?
No. It is not a financing commitment and does not replace a bank's assessment; it is a first classification. Actual financeability depends on the bank's full assessment, including the property, creditworthiness in detail and current terms.
Related pages
Mortgage calculator
Monthly payment, loan and purchase costs by region straight away; total cost and equity needed by email.
Requirements in detail
All documents for employed and self-employed applicants, plus the 35% rule worked through.
Overseas property mortgage: which of the two routes fits your purchase?
Borrowing through Germany usually means pledging a German property as security; the overseas property itself does not carry the loan.
Content by Siegfried Perini — local brand representative since 2019, active in real estate since 1992, entered in the German intermediary register (§ 11a GewO) as a person directly involved in brokerage and advice. Point of contact for German-speaking buyers in Spain and Portugal. Brokerage by Olga Nikushkina, mortgage credit intermediary under § 34i German Trade Regulation (GewO); in Portugal through a locally licensed intermediary.