Rules for Spanish Mortgages:

The mortgage can cover up to 80% of the purchase price or the appraisal amount (the lesser of the two) for your primary residence. For second homes, up to 70%.

The monthly installment cannot exceed 40% of your total income.

You will have to face other expenses such as the deposit or the appraisal fee.

Documentation needed:

– Your identity document (DNI / NIE)
– Proof of other income, if any (rent, commission, account interest, overtime, etc.)
– Last 2 receipts of your regular payments, indicating the balances pending (mortgages, personal loans, card credit, maintenance obligations and alimony, rental payments, other debts, etc.)
– Your employment record.
– If you are a salaried worker, present your last income tax return and last 2 salary /pension slips.
– If you are self-employed, you will need the income tax return of the last 2 years and the quarterly Personal Income Tax (IRPF) and VAT (IVA) payments of the current year.
Bank statement for the last 6 months of your main account (salary, chief bills …).