08.1.2025
Planning to buy a home? Discover the essentials about getting a mortgage in Portugal and learn how to make the process simpler, safer, and more cost-effective.
Buying a house is one of the most important decisions in life — but it can also be a challenging process, especially when it involves a mortgage. Knowing how it works, what to expect and how to choose the right solution is key to avoiding surprises and unnecessary costs.
In this practical guide, we explain step by step how to apply for a mortgage in Portugal, with useful tips for those seeking independent and personalised support — and how to secure the best conditions.
What is a mortgage?
A mortgage is a loan granted by a bank to finance the purchase, construction or renovation of a primary or secondary residence. The bank advances a significant part of the property’s value, and the borrower repays the loan monthly over a term that can go up to 40 years.
Who can apply for a mortgage?
Mortgages are available to individuals with stable income and a sound financial profile. Banks usually assess criteria such as:
1.Mortgage simulation
The first step is to understand how much you can borrow, for how long, and what your estimated monthly payments will be. Simulations help you compare scenarios and adjust expectations.
2.Document preparation
You’ll need to provide ID, proof of income, tax return, employment information, and details of the property.
3.Pre-approval and risk analysis
The bank evaluates your financial capacity, the property's value and the risk involved. This is where interest rates (fixed or variable), spread, and fees are assessed.
4.Contract signing
Once approved, the process moves to the property deed and formal mortgage contract with the agreed conditions.
How to get better mortgage conditions?
Mortgage offers vary significantly between banks. Comparing and negotiating is essential. An authorised mortgage broker can help you:
Buying a house is one of the most important decisions in life — but it can also be a challenging process, especially when it involves a mortgage. Knowing how it works, what to expect and how to choose the right solution is key to avoiding surprises and unnecessary costs.
In this practical guide, we explain step by step how to apply for a mortgage in Portugal, with useful tips for those seeking independent and personalised support — and how to secure the best conditions.
What is a mortgage?
A mortgage is a loan granted by a bank to finance the purchase, construction or renovation of a primary or secondary residence. The bank advances a significant part of the property’s value, and the borrower repays the loan monthly over a term that can go up to 40 years.
Who can apply for a mortgage?
Mortgages are available to individuals with stable income and a sound financial profile. Banks usually assess criteria such as:
- Debt-to-income ratio (percentage of income used to repay loans)
- Employment status and monthly earnings
- Age and requested loan term
- Type and location of the property
1.Mortgage simulation
The first step is to understand how much you can borrow, for how long, and what your estimated monthly payments will be. Simulations help you compare scenarios and adjust expectations.
2.Document preparation
You’ll need to provide ID, proof of income, tax return, employment information, and details of the property.
3.Pre-approval and risk analysis
The bank evaluates your financial capacity, the property's value and the risk involved. This is where interest rates (fixed or variable), spread, and fees are assessed.
4.Contract signing
Once approved, the process moves to the property deed and formal mortgage contract with the agreed conditions.
How to get better mortgage conditions?
Mortgage offers vary significantly between banks. Comparing and negotiating is essential. An authorised mortgage broker can help you:
- Access more competitive interest rates and lower fees
- Receive support from simulation to deed
- Get clear, independent answers to your questions
- Save time and avoid costly mistakes
Why choose Credit Place?
Credit Place is a mortgage broker authorised by the Bank of Portugal, specialising in housing loans. We work with the main banks in the market and offer free, personalised support to help you find the best solution for your needs.
Whether you're buying your first home, moving house or looking to transfer your mortgage to reduce your monthly payment, you can count on us to make the process easier, clearer and more beneficial.
Start your journey with expert support
Request a free mortgage simulation with Credit Place and find out how much you can save. We're here to help you make informed decisions — with clarity, confidence and full support.
At Credit Place, we assist homebuyers through every step of their property journey with impartial advice, tailored solutions and ongoing guidance. We run mortgage simulations, compare offers from multiple banks and help you choose the most advantageous option — always with full transparency.
Still looking for the right property? Discover top opportunities at ENTREPORTAS Real Estate, a trusted agency specialising in Northern Portugal, with a wide range of homes to match your lifestyle.
Credit Place is a mortgage broker authorised by the Bank of Portugal, specialising in housing loans. We work with the main banks in the market and offer free, personalised support to help you find the best solution for your needs.
Whether you're buying your first home, moving house or looking to transfer your mortgage to reduce your monthly payment, you can count on us to make the process easier, clearer and more beneficial.
Start your journey with expert support
Request a free mortgage simulation with Credit Place and find out how much you can save. We're here to help you make informed decisions — with clarity, confidence and full support.
At Credit Place, we assist homebuyers through every step of their property journey with impartial advice, tailored solutions and ongoing guidance. We run mortgage simulations, compare offers from multiple banks and help you choose the most advantageous option — always with full transparency.
Still looking for the right property? Discover top opportunities at ENTREPORTAS Real Estate, a trusted agency specialising in Northern Portugal, with a wide range of homes to match your lifestyle.