Mortgage in Spain for EU and Ukrainian Citizens: How to Buy Real Estate in 2025

Real estate mortgage is an affordable way to buy an apartment in Spain. 

The topic of housing mortgages in Spain is very extensive, but we will only tell you the part we know from our personal experience. All the figures in the article are averaged – everything depends on many factors and on the specific bank in the Kingdom of Spain.

In 2025, EU citizens and Ukrainians can take advantage of low rates and flexible conditions, despite differences in residency status and sources of income. This article explains how to obtain a mortgage in Spain for foreigners, what documents are needed, real figures, and how incomes from the EU, Ukraine, or Spain affect bank approval. We considered different income levels and added practical tips for a successful property purchase.

Why is a real estate mortgage in Spain beneficial?

Spain is the EU leader in mortgage accessibility due to low rates and rising property prices (5–19% per year on the coast). In October 2024, the average rate was 3.2% — lower than in Germany (3.65%) or the Netherlands (3.73%). EU citizens have better conditions, but Ukrainians with incomes in the EU/Spain can also take out a loan. At the end of the article, there is good news for Ukrainians.

Advantages of mortgages in Spain:

• • Low rates: Fixed from 2.5% (residents) to 7% (non-residents).

• • Long terms: Up to 30 years, reducing the monthly payment.

• • Investments: Real estate appreciates, especially in popular areas.

Mortgage conditions in Spain

For EU citizens

Citizens of the Eurozone (residents of Spain or other EU countries) receive better conditions due to transparent incomes and status in a European country.

• • Loan: 70–80% (residents), 40–60% (non-residents).

• • Rates:
    • • Fixed: 2.5–3.4% (residents), 3–4% (non-residents).
    • • Floating (Euribor): 2.2–3.6%.

• • Term: Up to 30 years (borrower’s age up to 65-75 years).

• • Payment: No more than 35% of income.

• • Down payment: 20–30% (residents), 40–60% (non-residents). There are exceptions: a down payment of 0% for the mortgage. This option is not available to everyone. And this topic is a separate article.

Example: An apartment in Valencia for €170,000. An EU citizen (resident) takes €136,000 (80%) at 3% for 20 years. Payment: €755/month, income needed €2,150/month.

For Ukrainian citizens after 2022, not all Spanish banks issue mortgages to Ukrainians, requiring income outside Ukraine.

• • Loan: 40–60%.

• • Rates: 6.5–7% (including insurance).

• • Term: 15–25 years.

• • Payment: Up to 35% of income.

• • Contribution: 40–60%.

Example: A Ukrainian with income in Spain buys an apartment for €170,000, takes €85,000 (50%) at 6.5% for 15 years. Payment: €740/month, income needed €2,100/month.

How do incomes affect the mortgage?

Spanish banks must check the source of income (Ley 10/2010) to comply with EU laws against money laundering.

1. Incomes in Spain

• • Who: EU citizens or Ukrainians with a Spanish contract (contrato laboral).

• • Pros: Bank loyalty, rates 2.5–4%.

• • Example: A Frenchman earns €3,000/month in Valencia, takes €200,000 at 3%, payment €1,050/month (35% of income).

2. Incomes in other European countries

• • Who: Working in Poland, Germany, etc.

• • Pros: Stable incomes in euros, rates 3–5%.

• • Example: A Ukrainian in Poland earns €2,500/month, takes €120,000 at 5%, payment €710/month.

3. Incomes in Ukraine

• • Restrictions: Some banks do not consider Ukrainian incomes due to risks. A mortgage is unlikely without incomes in the EU/Spain, but still possible. SunLine knows how to do it.

• • Alternative: Installment from the developer. But not all developers will approve Ukrainian incomes.
  • Example: A freelancer from Kyiv (€2,000/month) will not get a mortgage but can make a down payment of about €150,000 (50%), and for the remaining amount, make an installment.

Documents for a mortgage in Spain

Below is a sample list of documents for obtaining a mortgage. The list may vary depending on the bank.

• • NIE: Tax number (obtained through the consulate or at the police station or notary in Spain).
  • DNITIE: Spanish citizen card (Documento Nacional de Identidad)  Resident card of Spain (Tarjeta de Identidad de Extranjero).
  • Passport/ID: International passport (for Ukrainians), ID card (for EU citizens).

• • Incomes:
    • • From the workplace (payrolls (nómina) and employment contract).
    • • Income tax return for 1–2 years.
    • • Bank statement of income and expenses for the last 6–12 months.