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If your dream is to have your own property, but you don't know where to start, don't worry! About we will help you in this mission. Therefore, in this post you will find basic information about simulation of property financing in Portugal. Stay tuned!
Define the purpose of the property you are looking for
The first thing you need to keep in mind is the purpose of your no-down payment financing. You need to know what your objective is with the property. This is because there are types of financing available on the market, which are:
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- acquisition of permanent or secondary housing, whether for rent or as a holiday home;
- construction credit for the purchase of land that will be used to build a property later;
- house exchange, which applies to those who want to change their home, but still have a housing loan in progress;
- transfer, aimed at those who want to change banks to have better credit conditions.
Regardless of your purpose, you need to know some important details. According to Banco de Portugal guidance, banks cannot finance more than 90% of the value of the property. Regarding the term, property financing without a down payment cannot exceed 40 years.
Why do a real estate financing simulation in Portugal online?
Once you have already defined the purpose, save time by making the real estate financing simulation in Portugal. To do this, we recommend that you use the internet to facilitate your search process. There are different ways to do the online simulation.
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The first alternative is to search the websites and other channels of the bank that offers credit to simulate buying a house. The main banks that offer this option are: Caixa Geral de Depósitos, Banco BPI, Banco CTT, UCI and Santander Totta.
Another alternative is to look for free real estate simulators. This option may be even more advantageous. This is because it is possible to compare the rates and conditions of different banks. This way, without leaving home, you can understand and analyze the market.
Finally, let's leave you with one last tip. We advise that, when carrying out your simulation, you also take your income conditions into account. It is essential to reflect a lot so as not to sign a contract on impulse.
Do not close the deal without being sure of as many market conditions as possible. Research well, using and abusing simulation of property financing in Portugal. This way you will avoid stress and debt headaches.
