Qual a idade máxima para pedir crédito habitação?

What is the maximum age to apply for a housing loan?

Currently, there are established maximum deadlines for housing credit depending on the age of the borrowers and a maximum age limit to be able to contract this credit. In this article, we explain how financing deadlines and the maximum age work.

10 Aug 20233 min

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What are the maximum financing deadlines for mortgage credit?  

Since April 2022, the maximum financing periods for home loans have been reduced. Currently, those looking to buy a house with a new loan will face lower limits. These limits are imposed according to the age of the borrowers.  

In other words, customers who are 30 years old or younger can apply for a mortgage with a maximum term of 40 years; borrowers between the ages of 30 and 35 may have a deadline of up to 37 years, and customers over 35 years old can have a contract that lasts up to 35 years.

AgeMaximum deadline
Up to 30 years40 years
Between 30 and 35 years37 years
More than 35 years35 years

According to Banco de Portugal, the reduction of these limits aimed to preserve banking institutions so they don't take excessive risks when granting new credits, promoting "access to sustainable financing for consumers, minimizing the risk of default."

However, in the case of the property being a secondary residence, the maximum financing period can be 30 years, regardless of the age of the owners. It may also happen that if the clients pose a credit risk, their financing period may be limited to 30 years through analysis.

But is there a maximum age to apply for a mortgage?

Yes, in most banks. Usually, banking institutions only allow you to contract a mortgage credit up to 75 years of age.  

This also applies to the age you have at the end of the credit contract. That is, if you are over 35 years old, you can only have a maximum financing term of 35 years, but only if your age at the end of the contract does not reach 75 years.

For example, if you hire a housing credit at 45 years old, in most banks you can only have a maximum financing limit equivalent to 30 years (because you will be 75 years old at the end of the contract). Therefore, in practice, you can only have a maximum contract duration limit equal to 35 years, between 35 and 40 years old.

Until the age of 75, the older you are, the less credit maturity banks allow and you will have to pay back the loan in less time.

Note, however, that there are banks that can finance up to 80 years of age of the oldest holder, as long as it does not exceed the 30-year maximum financing term (in the case of clients over 50 years old).  

What are the advantages and disadvantages of hiring credit at an older age?  

Hiring a home loan at an older age has its pros and cons. Paying off the loan in less time can have advantages and disadvantages.

When the financing term is shorter, there are fewer installments to pay, which means you will also not pay as much interest. By reducing the Total Cost of Credit to the Consumer (TCC), the credit becomes cheaper.

Another advantage is the fact that the deadline ends faster and you don't have to carry the burden for a long period of time to recover the family budget.  

If you still have doubts about the financing deadlines for mortgage credit, or other questions regarding this process, you can rely on the help of credit intermediaries Poupança no Minuto. With a free service, they clarify all questions and stay by your side throughout the entire process of contracting a mortgage for your new home.

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