Question about mortgage in Spain
Hi everyone! I’m wondering if anyone has had success getting a mortgage in spain with US income? I’m working remotely from the US and want to buy a property here in Spain. So far, no luck. Any advice?
Answers
These are the answers of some Facebook group members:
”I tried to get a mortgage in Spain about six years ago. No luck. Even when dealing with a loan officer at Caixabank who was accustomed to internationals, the bank just wouldn’t deal with a situation where the property would be here but everything about the money with which the loan would be repaid would happen outside of Europe. Not income, not Social Security income, not investments held in street name by big global companies were sufficient for the banks here”
”Bankinter gave us a mortgage in Spain in 2017 for 17% of the purchase price with no Spanish income”
”My wife and I are Americans and bought a piso in BCN in 2015 with minimal problems. We went through Sabadell Bank and their underwriters handled the transaction with minimal issues. At that time we mostly lived in the US with occasional visits to Spain. Now we are here a lot more. At the time, as we weren’t knowledgeable about the process in Spain, we used an English-speaking mortgage broker in country. It cost us a 500 euro fee but it was well worth it as they coordinated everything”
”You can do that from the US either with a bank or a mortgage broker. I know a guy that just did it”
”I have a good contact that you could try, 2 actually. Will message you both”
”Yes we did it with bankinter in 2021 but had to put 30% down”
”Try a private lender”
”Try Santander. I understand they really make efforts for foreigners”
”I’ve done it twice with Sabadell. Great help in Barcelona with the bankers there”
In conclusion, according to Spainguru Facebook group members, obtaining a mortgage in Spain while earning income in the United States and working remotely is possible, as some individuals have successfully done so with banks like Bankinter, Sabadell, and Santander. However, experiences vary, and it’s recommended to consult with professionals, consider mortgage brokers, and explore different options to find the best solution for your specific circumstances.
