1. Down payment: how much should you invest? (2026 Law)

In Portugal, all real estate financing requires a down payment from equity.

Primary Residence
Up to 90% EU Tax Resident
Secondary Residence
Up to 80% 70-80% depending on risk
Rental Investment
Up to 70-80% Depending on the bank
⚠️ Property Valuation: The loan is calculated based on the appraisal value. If it is lower than the purchase price, you will need to cover the difference.

Tax Exemption (OE 2026) - First-time buyers ≤ 35 years old

Up to €330,539Total IMT & IS exemption
€330,539 — €660,982Partial exemption (~€15,000)
2. Acquisition costs and estimated fees (2026 rates)
ItemIndicative Amount (Ex: €300k)
Purchase Price€300,000
Down Payment (20%)€60,000
IMT (Transfer Tax)~€10,540
Stamp Duty (Imposto do Selo)~€2,400
Bank Fees & Notary~€2,000 — €3,000

* Calculate precisely via the APEMIP simulator.

3. Guarantees and borrower insurance

The bank takes a traditional mortgage (~€100).

Option 1 — Exemption

Financing ≤ 75% (Non-residents)

Option 2 — External Insurance

~50% cheaper. Available for non-residents.

Note: Insurance delegation may lead to a slight increase in the spread (+0.1% to +0.2%).
4. Early repayment: penalties and conditions
Fixed Rate
2% + 4% stamp duty on penalty
Variable Rate
0.5% Reduced calculation base

Rules imposed by the Bank of Portugal.

5. Renovation loan: how it works and specificities

The loan is always at a variable rate during the renovation period.

Tip: For small amounts, a personal loan is often more advantageous due to lower bureaucracy.
  • Released in installments after an appraiser's visit.
  • Interest payments only on the amounts already released.
6. Interest rates and mortgage duration (2026)
Max Term
40 years If borrower is ≤ 29 years old
Age Limit
75 years At the end of the loan
TypeIndicative RateDetails
Variable~3%Euribor 6M + Spread
Fixed3.35% - 4.80%Total stability
Mixed2.25% - 3.20%Initial Fixed + Variable
7. Zephyr Mortgages Services — 100% Free

🎁 100% Free Service

Paid only by the banks.

  • Complete file preparation.
  • Obtaining pre-approval.
  • Support until the final deed.

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