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Mortgage in Spain

2026 Guide: Mortgage for Non-Residents Buying in Spain — Europe & USA (Zero Surprises)

1 January, 2026 | Antonio Beltrán

The mortgage with the monthly payment you can really affor

If you live in Europe or the United States and want to buy a property in Spain in 2026, it’s essential to understand how the Spanish mortgage system works:

  • Spain has shifted from variable to predominantly fixed-rate mortgages.

  • Banks typically offer 50%–70% financing to non-residents.

  • Your income currency matters a lot.

  • Debt-to-income (DTI) limits are usually 35%–40%.

  • Your down payment must come from your own savings.

  • Banks may request a credit report from your home country.

  • Bank onboarding platforms can fail or require repetitions, but with guidance the process becomes easy.

  • And very important: Spain does NOT offer “Turn Equity into Cash” or US-style refinancing.

With proper support, the process becomes fast, safe, and free of surprises.

1) The big 2026 shift: Spain is now a fixed-rate mortgage country

For decades, Spain was dominated by variable-rate mortgages tied to Euribor.
From 2023 onward the market changed, and by 2026:

Fixed-rate mortgages are the standard, especially for foreign buyers.

This provides what non-residents value most:

  • Stable monthly payments

  • Long-term predictability

  • No shocks from interest rate changes

If you’re buying from abroad, this stability is crucial.

2) Financing range for non-residents: 50% to 70%

Spanish banks offer less financing to non-residents than to residents.

Typical 2026 range:

  • 50%–70%

  • 70% is most common for strong profiles

This is different from countries like the USA, where 80%–95% financing is common.

3) Your income currency is a fundamental requirement

Spanish banks analyse foreign-exchange risk.
If your income is in a stable, commonly used currency, the process is far easier.

Currencies most frequently accepted:
EUR, GBP, SEK, DKK, NOK, CHF, USD, CAD, MXN, AUD, BGN, CZK, HUF, PLN, RON

The more stable the currency, the easier it is to:
✔ reach 70% financing
✔ be allowed a DTI of 40%

4) Debt-to-income ratio: banks limit you to 35% or 40%

Banks include ALL your international obligations:

  • mortgages abroad

  • personal loans

  • credit cards

  • leasing

  • recurring obligations

In 2026, the standard limits are:

  • 35% for more conservative profiles or higher-risk currencies

  • 40% for strong profiles and stable currencies

5) Your down payment must come from your own savings

Critical point:

✔ Your down payment and purchase costs must come from your own documented savings.
❌ If the funds come from a recent loan in your home country, banks may reduce the loan amount or decline the application.

Banks want to avoid hidden debt.

6) Self-employed & business owners: if you receive dividends, prove stability

If most of your income comes from dividends, banks will require proof that:

  • dividends have been stable,

  • during roughly the last three years.

This provides financial consistency for the bank’s risk assessment.

7) Credit report: only the countries that matter for your audience

When buying from abroad, Spanish banks cannot check your credit history.
Therefore, requesting a credit report is normal.

From the full list in the document you provided (pages 1–6) , here are the bureaus relevant to European and US clients:

Credit bureaus by country (relevant only)

🇩🇪 Germany

🇬🇧 United Kingdom

  • Experian UK

  • Equifax UK

  • TransUnion UK

🇨🇭 Switzerland

🇺🇸 United States

🇫🇷 France

🇳🇱 Netherlands

🇮🇪 Ireland

🇧🇪 Belgium

🇮🇹 Italy

  • CRIF

  • Centrale dei Rischi (Bank of Italy)

🇸🇪 Sweden

8) Bank onboarding in 2026: the part nobody tells you

It is absolutely normal for bank digital onboarding to fail or require repetition:

  • documents that don’t upload properly

  • identity checks repeated

  • screens that freeze

  • steps that don’t save

It’s not your fault.
It’s not a sign of a bad application.

👉 With proper guidance, this phase becomes smooth and stress-free.
After onboarding is completed, everything usually flows efficiently.

9) IMPORTANT: Spain does NOT have “Turn Equity into Cash”

Unlike the USA and some European countries, Spain does not allow:

  • cash-out refinance

  • equity release

  • extracting cash because your home value increased

  • refinancing into better terms whenever you want

➡ Spanish banks do NOT offer equity-based liquidity, even if your home is worth much more than your remaining debt.

➡ Traditional refinancing as understood in the US does NOT exist in Spain.

10) The only alternative if you need liquidity: private-lender mortgages

Private-lender (capital privado) mortgages are:

✔ Legal
✔ Regulated by the Bank of Spain
❗ But much more expensive than bank mortgages

Typical conditions:

  • High interest rates

  • Financing limited to 40%–50% of appraised value

  • They ALWAYS include paying off your existing mortgage (if any)

  • They are a last-resort tool, not a mainstream product

It is important that foreign buyers understand that this is the ONLY way to obtain liquidity from a property in Spain.

Conclusion: Buying from abroad without surprises is 100% possible

Buying a home in Spain from Europe or the USA is absolutely feasible.
The key is to:

  • understand the real structure of Spanish mortgages

  • prepare the correct documentation

  • select the right product

  • and have expert guidance

Financial peace of mind must be the center of the decision.

The mortgage with the monthly payment you can really afford.

 

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