Applying for a mortgage in Portugal
We approve 97% mortgage loans in Portugal for non-residents

– Yes. Your legal status in the country does not directly affect the bank's decision. Of crucial importance to the bank's risk analysts is the source of your income and its amount. It is important that the income originates in developed countries; income in Russia, Belarus and Ukraine is not suitable for the purposes of obtaining a mortgage.

Banks impose stricter down payment requirements on non-residents. It is advisable to have at least 20% of your own funds, and preferably 25–30%. Interest rates for non-residents are higher, but only slightly.

For preliminary approval: Portuguese tax number NIF (to be applied for online), last year’s tax return (translated into English or Portuguese), the last 6 monthly bank statements and proof of income for the last six months. Banks may request further documents at a later stage

Usually, the whole process from submitting documents to signing the deal takes 1-2 months.

The bank breaks down all commissions, fees, and insurance in detail in the loan simulation. The terms vary slightly from bank to bank.
The loan origination fee is a fixed amount equivalent to 0.6% of the loan amount. You will also pay the bank a commission (€1,000–1,500) when the loan is granted, and compulsory insurance will cost a further €150 per month for two borrowers or €100 per month for a single borrower.

The annual percentage rate (TAEG in Portuguese, APR in English) for January–February 2026 is 4.4–5.1%.
The effective interest rate takes into account how much you will actually pay the bank, based on the nominal interest rate (Portuguese: TAN – Taxa Anual Nominal; English: NIR – Nominal Interest Rate) and including all additional charges. The nominal rate (TAN) is, of course, always lower than the effective rate (3.2–3.5%); and is calculated as the 12-month Euribor rate (2.4–2.7%) plus the bank’s spread (0.75–0.85%).
Banks offer loans for 30-35 years, of which the first 2-5 years have a fixed-rate contract, and thereafter a variable rate depending on the Euribor (European Central Bank rate) for the last 12 months. Practice has shown that, subject to the bank's terms, slight negotiation is possible regarding the duration of the fixed/variable rate period.

At the end of 2024, a new law on state-guaranteed mortgages was passed, allowing housing loans to be granted for the full purchase price to young people aged between 18 and 35 for the purpose of buying their first permanent home.  In January 2025, we received the first approval for a mortgage with 100% financing for a Russian couple with residence permits, both aged under 35. The bank offered €450K straight away, whilst our initial request had been for €320K. The household’s official monthly income is €6K. The effective interest rate is 4.4%, and the nominal rate is 3.2%.

As of February 2025, the largest loan we have managed to secure for a foreign citizen is a mortgage on an apartment worth 1.5 million euros with a down payment of 600 thousand euros.