Mortgage.

We need to clarify some points regarding the procedure for obtaining a mortgage in Spain, so you can properly assess your possibility in obtaining a mortgage, and thus the cost of the acquired property.

The general condition for a loan - is the customer´s solvency. The more information you provide, the better. If you buy a property jointly with someone else, then it will be another plus for getting a mortgage. Theoretically, more income means less risk for the bank. In this case it is necessary to prepare documents for all buyers.

Mortgage. The rights of foreigners and the process of purchasing property in Spain.

Documents have to be translated into Spanish, and it is strongly recommended to formalize the translation in a notary in the consulate of Spain . All these documents + the size of down payment, which you´ll pay (the more the better) will influence the decision of the bank issuing the mortgage, interest rate and length of the loan. So it makes sense to prepare well. Without providing evidence of your ability to pay the bank will not give you a loan.
The maximum loan size for foreigners can reach up to 70% of the property value. In other words, as a minimum, you should have 30-40% of the cost of the proposed purchase.
And of course, your documented income should be enough to repay the loan and interest on the loan.