Can you get a Spanish Mortgage as a US Citizen? Do you live in the USA but have plans to buy either a holiday home or make a permament move to the Mediterranean enclave of Spain? Understanding the financial landscape, especially if you need a mortgage, will be an important part of the process and knowing what your budget is before you buy should be your first priority. In this article we will discuss getting a Spanish Mortgage as a US Citizen, and what it means for you in the long run.
Why Spain Is So Popular for Americans in 2025
Spain remains exceptionally attractive for U.S. buyers in 2025. American purchases have surged—accounting for some of the highest per‑square‑meter prices among non‑EU buyers—making up 2% of foreign transactions and quadrupling in the past five years. Motivations include a strong U.S. dollar, lower cost of living, appealing Mediterranean climate, and a growing sense of social and political safety compared to parts of the U.S. Even with the end of Spain’s “golden visa” program in April 2025, Americans continue to flock to regions from Madrid and the coast to quieter inland areas.
Terms for Your Spanish Mortgage as a US Citizen
- As non‑resident buyers, U.S. citizens are typically offered mortgages at 70 % LTV with some lenders more conservative at 60 %.
- Best rates around 3.1% fixed for 20 years with option to reduce by 0.75% by taking products, so rate around 2.35%.
What Americans Need to Qualify
When you apply for a Spanish Mortgage as a US Citizen you should expect to put down 30%–40% of the property price—sometimes more depending on lender risk policies. U.S. lenders will evaluate your documents stringently
- 2–3 years of U.S. tax returns and payslips
- Last 6 months of bank statements
- A U.S. credit report showing stable, timely payment history
Debt‑to‑Income & Currency
Banks prefer a debt‑to‑income ratio below 35%–40% of net income. Note: some banks have grown cautious due to U.S. income in dollars; under Spanish law (LCCI 05/2019), borrowers can request mortgage conversion if their currency falls significantly against the euro – which some banks view as high risk and refuse USD‑income applicants.
Legal & Administrative Essentials
Non‑residents must obtain a NIE (Número de Identificación de Extranjero) before closing. Documents may require official translation into Spanish and apostille certification as needed. Also prepare for Spanish FATCA compliance, and note you’ll be subject to non‑resident property tax and other regional fees.
How a Mortgage Broker like EMAC can Help
EMAC offers specialized services for those looking to get a Spanish Mortgage as a US Citizen. Their services include:
- Tailored mortgage products for U.S. citizens, with fixed rates from around 2.0%–2.4% and LTV up to 70% for non‑residents, terms up to 25 years or until age 80.
- Multilingual advisors to guide you through lender selection, negotiations, and paperwork
- Cross‑border support including foreign exchange, valuations, insurance, and navigating Spanish legal/tax requirements.
EMAC streamlines the process from qualification to offer, managing relationships with banks & lenders that may otherwise be hard to access as an overseas buyer.
Next Steps – Your Roadmap to an Approved Spanish Mortgage
- Get Pre‑Qualified and talk to EMAC or a specialist broker to review your financial documents
- Apply for your NIE and start the process as early as you can
- Prepare Documentation
- Agree on a Property & Make an Offer
- Submit Mortgage Application via EMAC
- Review Offer and Examine interest rate, term, fees and conditions.
- Finalise Purchase & Closing
- Post-Purchase Compliance
Thinking of buying property in Spain? EMAC can be your trusted partner from pre‑qualification to closing—bringing clarity, efficiency, and confidence to your purchase journey. If you are ready to start and would like to get a Spanish Mortgage as a US Citizen then begin your journey and contact us here.
