Is it necessary to have a down payment to get a mortgage in Portugal?

Movingto Editorial Team
December 18, 2022

Most lenders in Portugal will require a down payment when you apply for a mortgage. The down payment is a percentage of the purchase price of the property that you pay upfront, and it is typically required to reduce the lender's risk and ensure that you have a financial stake in the property.

In general, most lenders will allow you to borrow up to 90% of the value of the property, which means you will need to have a down payment of at least 10%. However, some lenders may require a larger down payment, especially if you have a low credit score or a high debt-to-income ratio.

The size of the down payment can also affect the terms of the mortgage, such as the interest rate and fees. A larger down payment may result in a lower interest rate and lower fees, while a smaller down payment may result in a higher interest rate and higher fees.

It is a good idea to carefully consider your financial situation and budget when deciding on the size of your down payment. You may also want to seek the advice of a financial advisor or mortgage broker who can help you understand your options and make an informed decision.

Want further advice?

RHJ Group are the experts in this field, and can help with your enquiries.

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