Can Retirees Get a Mortgage in Portugal? Here's What You Need to Know

It’s no secret that, at this point, Portugal is quickly becoming one of Europe’s top retirement destinations, with a fantastic climate, quality healthcare, and an affordable lifestyle. But what if you’re not ready to tie up all your cash in a home purchase? Can retirees qualify for a mortgage in Portugal?

Yes— as long as you meet certain criteria. Here's what you need to know:

1. Verifiable Income

Banks will consider proof of stable retirement income such as:

• Government or private pensions
• Rental income from other properties
• Annuities or regular investment income

2. Age Limits & Loan Term

Many banks cap the mortgage term so that it ends prior to reaching the age of ~ 75-80; this means shorter loan terms and slightly higher monthly payments for older applicants as a result.

3. Deposit Requirements

Most foreign retirees will need to provide a downpayment of at least 30% of the total property price as a deposit. The bank will assist you in financing the rest.

4. Documentation

Regardless of each case, the following three documents are necessary for processing. Additional required documentation is subject to change with each case.

• Pension statements or Proof of Retirement Related Income
• Tax returns or proof of consistent rental income
• Bank statements (last 3-6 months)

5. How We Help

At MaxFinance Top, we work with the main banks in Portugal and understand their exact lending criteria for retirees. We'll match you with the best options for your case and guide you through the entire process. These services are free of charge in Portugal and we will always have your best interests in mind.

Schedule a call with us:
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