Question 1

Can foreigners get a mortgage in Spain?

Accepted Answer

Yes. Non-residents can typically borrow up to 70% of the property value from Spanish banks. EU residents may access up to 80%. You'll need a Spanish NIE number, proof of income, and a clean credit history.

Question 2

What is the typical interest rate for a Spanish mortgage?

Accepted Answer

As of 2025, variable rates (Euribor + spread) typically range from 2.5% to 4%, while fixed rates sit between 3% and 4.5%. Rates vary by bank, loan size, and your financial profile.

Question 3

How much deposit do I need to buy in Spain?

Accepted Answer

Non-residents generally need at least 30% deposit. On top of the price, budget the transfer tax for your community plus roughly 3-4% for notary fees, legal costs and registration.

Question 4

Do I need a NIE number to get a mortgage?

Accepted Answer

Yes. A NIE (Número de Identificación de Extranjero) is required for any property transaction in Spain, including opening bank accounts and applying for a mortgage.

Question 5

What are the main costs when buying property in Spain?

Accepted Answer

Expect to pay ITP (transfer tax) on a resale, which is set by the community and currently runs 6% to 13%, or IVA of 10% plus AJD stamp duty on a new build. On top of that budget roughly 3-4% for notary, land registry and legal fees. Use the community selector in the calculator for your own figure rather than a national average.

Loan Term	Monthly Payment	Total Interest	Total Cost
15 Years	1,716 €	68,829 €	308,829 €
20 Years	1,392 €	94,057 €	334,057 €
25 Years	1,201 €	120,449 €	360,449 €
30 Years	1,078 €	147,975 €	387,975 €

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