# Mortgages in Portugal for Residents & Foreign Buyers (2026)

> How to get a mortgage in Portugal: rates, LTV limits, resident vs non-resident rules, fixed vs variable, and costs beyond the rate.

By Jules de Bruin · URL: https://www.how-to-portugal.com/finance/mortgages

Updated August 2026. Portuguese mortgages are available to residents and non-residents, with LTV limits set by Banco de Portugal. Residents can borrow up to 90% of the property value; non-residents are usually capped at 70% to 80%. Rates are fixed or indexed to Euribor plus spread. Budget for notary, registry, stamp duty, and insurance.

## How Do Portuguese Mortgages Work?

You apply with a bank or broker, submit documents, receive a provisional offer, and complete the property purchase with a notary. The bank registers a mortgage on the property.

## Resident vs Non-Resident

Residents generally need a 10% down payment and can access higher LTV. Non-residents typically need 20% to 30% down and may face slightly higher spreads or shorter terms.

## Fixed or Variable Rate?

| Bank | TAEG base?TAEG baseThe bank's representative all-in yearly mortgage cost without bundled products: no salary domiciliation, no bundled insurance. | TAEG with products?TAEG with productsThe representative all-in yearly cost after bundling salary domiciliation and the bank's insurance, which cuts the spread by roughly half a point. | Structure |
| --- | --- | --- | --- |
| [Caixa Geral de Depósitos](https://www.cgd.pt) | 4.6% | 4.2% | Variable: Euribor 6M (2.647% Jul-2026 avg) + spread 1.35% base / 0.85% with salary domiciliation and bundled products; mixed-rate (2y fixed then variable) options |
| [Millennium BCP](https://ind.millenniumbcp.pt) | 4.8% | 4.2% | Variable: Euribor 12M (2.855% Jul-2026) + spread 1.25% base / 0.70% bonified; fixed and mixed options |
| [Bankinter Portugal](https://www.bankinter.pt) | 4.8% | 4.4% | Variable: Euribor 12M (2.855%) + spread from 1.05%; mixed-rate options; transfer product waives most costs |
| [ActivoBank](https://www.activobank.pt) | 4.7% | 4.2% | Variable: Euribor 12M (2.798% Jun-2026) + 1.25% base / 0.70% bonified |
| [Banco BPI](https://www.bancobpi.pt) | 4.8% | 4% | Variable TAEG 4.8% base / 4.0% bonified; fixed-rate examples TAEG 5.4% / 4.7% |
| [Santander Portugal](https://www.santander.pt) | 5.3% | n/a | Up to 100% LTV for buyers Each bank's own representative example, on July 2026 Euribor averages (12M 2.855%, 6M 2.647%). Novo Banco, UCI Portugal, Banco CTT publish no stable representative example.

Variable rates follow Euribor plus a bank spread of roughly **0.70% to 1.35%**, common for 3, 6, or 12 months; salary domiciliation and bundled insurance cut the spread by about half a point. Fixed rates give predictable payments but often start higher. Mixed-rate products also exist.

## What Are the Extra Costs?

Beyond the deposit, expect bank appraisal, notary and land registry fees, stamp duty on the loan, mortgage registration, and mandatory life and building insurance.

## Related Guides

[### Loans Overview.](/finance/loans)[### Loans Price Research Rate table.](/finance/loans-price-research)[### Personal Loans Consumer credit.](/finance/personal-loans)[### Open Bank Account Banking first.](/finance/open-bank-account)

## Frequently Asked Questions

### Can Americans get a Portuguese mortgage?

Yes, but non-residents face lower LTV and may need to provide US tax documentation.

### How long does approval take?

Typically 2 to 6 weeks after you submit complete documents, depending on the bank.

### Is it better to use a broker?

Brokers can compare multiple banks and are especially helpful for non-residents or complex income.

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Source: https://www.how-to-portugal.com/finance/mortgages
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