---
title: Mortgages in Spain for Expats – A Complete Guide for 2025
description: Thinking of buying a home in Spain? Learn about mortgage options, interest rates, and expat requirements in our 2025 guide from 247 Expat Insurance.
---

[blog](https://info.247expatinsurance.com/blog)

# [Mortgages in Spain for Expats – A Complete Guide for 2025](https://info.247expatinsurance.com/blog/mortgages-in-spain-for-expats-a-complete-guide-for-2025)

 Written by [247 Expat Insurance](https://info.247expatinsurance.com/blog/author/247-expat-insurance) | Mar 19, 2025 9:15:53 AM

Buying a home in Spain is a dream for many expats, but understanding **how mortgages work** in Spain is crucial before making the investment. Whether you’re **a resident or a non-resident**, getting a mortgage in Spain has different requirements, costs, and processes.

At **247 Expat Insurance**, we help expats protect their investments with **home, health, and life insurance**, ensuring a smooth transition to life in Spain. In this guide, we cover **how to get a mortgage in Spain, interest rates, requirements, and the best banks for expats.**

 

## **Can Expats Get a Mortgage in Spain?**

- **Yes!** Both **residents and non-residents** can apply for a mortgage in Spain.
- Spanish banks typically offer **lower mortgage amounts** to **non-residents** compared to **residents**.
- Interest rates are **competitive** compared to other European countries.

**Expats who live and work in Spain have access to better mortgage conditions than non-residents, and can borrow a higher percentage.**

 

 

## **Resident vs. Non-Resident Mortgages in Spain**

| **Mortgage Type** | **Available to** | **Maximum Loan-to-Value (LTV)** | **Interest Rates** | **Repayment Term** |
| --- | --- | --- | --- | --- |
| **Resident Mortgage** | Expats with Spanish residency | Up to **80%** of property value, depending upon income, this can increase to **90/100%** of property value | Lower interest rates | Up to **30 years** |
| **Non-Resident Mortgage** | Expats without Spanish residency | Up to 5**0-70%** of property value | Slightly higher rates | Up to **20-25 years** |

**If you plan to live in Spain long-term, getting residency will give you access to better mortgage terms.**

 

## **Mortgage Interest Rates in Spain (2025)**

| **Mortgage Type** | **Interest Rate (APR)** | **Best For** |
| --- | --- | --- |
| **Fixed-Rate Mortgage** | **3.5% - 4.5%** | Buyers who want stable monthly payments |
| **Variable-Rate Mortgage** | **Euribor + 1% - 2.5%** | Buyers willing to take advantage of fluctuating interest rates |
| **Mixed Mortgage (Fixed + Variable)** | **First years fixed, then variable** | Buyers looking for flexibility |

- **Fixed-rate mortgages** provide **predictability** but have **higher initial rates**.
- **Variable-rate mortgages** start lower but **fluctuate** based on the **Euribor rate**.
- Some banks offer **mixed mortgages**, which combine both.

**In 2025, Spanish mortgage rates remain competitive but can vary based on economic conditions.**

 

## **How Much Can Expats Borrow?**

✔ Spanish banks typically finance:

- **Up to 80%** of the property value for **residents,** with more available depending on circumstances and income.
- **Between 50-70%** for **non-residents**.

✔ You must cover the remaining **20-40% as a down payment** plus **taxes & fees** (around **12-15%** of the property price).

For more information on all taxes and fees involved in the purchase, click here, and we will explain them all.

**Non-residents should expect to provide a higher down payment.**

 

## **Requirements for Getting a Mortgage in Spain**

To apply for a mortgage, expats need:

- **Valid Passport** – Proof of identity.
- **NIE (Foreigner Identification Number)** – Required for financial transactions in Spain.
- **Proof of Income** – Payslips, tax returns, or proof of self-employment income.
- **Bank Statements** – Typically for the last **6-12 months**.
- **Employment Contract (if applicable)** – For employed applicants.
- **Property Valuation (Tasación)** – Conducted by a Spanish bank or independent firm.
- **Credit History Report** – May be required from your home country.
- Depending on the requirements of the bank, other documents may be required.

**Spanish banks will evaluate your income, creditworthiness, and financial stability before approving a mortgage.**

## **Best Banks for Expats Getting a Mortgage in Spain**

| **Bank** | **Best For** | **Resident / Non-Resident Mortgages?** |
| --- | --- | --- |
| **Santander** | International banking | Both |
| **BBVA** | Online applications | Both |
| **CaixaBank / HolaBank** | High LTV for residents | Residents CaixaBank / Non-residents HolaBank |
| **Sabadell** | Flexible mortgage options | Both |
| **Bankinter** | Best fixed-rate mortgages | Both |
| **ING España** | Low fees | Resident |

**Santander, BBVA, and Sabadell are popular choices for expat mortgages in Spain.**

## **Additional Costs When Buying a Property in Spain**

 

- **Taxes & Fees:** Expect to pay **10-15%** of the property price in additional costs.
- **Property Valuation Fee:** €300-€800.
- **Notary & Registration Fees:** Around **€1,000 - €3,000**.
- **Home Insurance:** Required by most banks; available through **247 Expat Insurance** ask us for a free quote.
- Life Insurance to cover the mortgage amount; available through **247 Expat Insurance** ask us for a free quote.

**Factor in extra costs when calculating your budget for buying a home in Spain.**

 

## **Step-by-Step Process for Getting a Mortgage in Spain**

 

1️⃣ **Find a Property** – Work with a **trusted real estate agent** (e.g., **VIBE Real Estate**).

2️⃣ **Get a Mortgage Pre-Approval** – Check with Spanish banks for the best rates.

3️⃣ **Secure Your NIE Number** – Needed for financial transactions.

4️⃣ **Hire a Lawyer** – To assist with the legal paperwork (**Platinum Legal Spain** can help).

5️⃣ **Property Valuation** – Required for mortgage approval.

6️⃣ **Sign the Mortgage Agreement** – With a Spanish notary.

7️⃣ **Final Payment & Registration** – Complete the transaction and register the property.

 

**Working with professionals like VIBE Real Estate and Platinum Legal Spain ensures a smooth home-buying process.**

 

## **Alternatives to a Traditional Mortgage**

- **Mortgage from a Foreign Bank** – Some UK, U.S., and EU banks offer **Spain-specific mortgages**.
- **Developer Financing** – Available for **new-build properties**.
- **Private Loans & Investor Funding** – Used in **certain high-value purchases**.

**If you can’t get a mortgage through a Spanish bank, alternative financing options may be available.**

 

## **How 247 Expat Insurance Can Help Homeowners in Spain**

Buying a home is a major investment—**protect it with the right insurance**. **247 Expat Insurance** provides:

- **Home Insurance** – Covers property damage, theft, and liability.
- **Life Insurance** – Can be required for some mortgages.
- **Health Insurance** – Needed for residency applications.
- **Car Insurance** – If you’re relocating and need a vehicle.

📩 **Get a free quote today!**

 

 

### **Disclaimer**

**Mortgage rates, terms, and regulations may change over time. Always consult with a financial or legal professional before making mortgage decisions in Spain.**

 

[View full post](https://info.247expatinsurance.com/blog/mortgages-in-spain-for-expats-a-complete-guide-for-2025)

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