Quanto custa a entrada inicial para o crédito habitação?

How much is the initial entry for housing credit?

Are you planning to buy a house with a mortgage and don't know how much initial down payment you need to have available? Pay attention to the factors that have an impact and the calculations you should make.  

09 Apr 20243 min

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What are the maximum values that the bank finances?

When buying a house with a housing credit, currently, you must pay an initial amount, usually designated as "down payment", since banks do not finance the acquisition 100%.

There are no full loans from banks, there are maximum limits banks can finance.  

The Bank of Portugal (BdP) then defines that, for housing loans and construction for own and permanent use, banks are authorized to lend up to 90% of the value of the property (acquisition or appraisal value, whichever is lower). And for loans with mortgage guarantee or for other purposes, banks can lend up to 80% of the value of the property (also the lower value between acquisition and appraisal).  

Housing loans with 100% financing are only possible, perhaps, for properties owned by the bank and have been seized. Learn more about this topic here.

So, how much do I have to pay to the bank?  

Therefore, by buying a house with a housing loan, you will almost always have to give an initial down payment to the bank.

The value itself will depend on the property cost. Let's see examples to make it easier:  

If you are buying a property for own and permanent habitation with an acquisition cost of 280,000 euros and an appraisal value of 290,000 euros, the bank can lend 90% of 280,000 (the lowest value). This means that the bank will lend, in this case, 252,000 euros and you will have to provide the remaining 10% - 28,000 euros.

Now consider that the property you are going to buy for own and permanent housing has a purchase value of 300,000 euros, but the bank values the property at 290,000 euros. The bank lends 90% of 290,000 euros (the lower value), that is, 261,000 euros. But the purchase value remains the same, so you have to give the remaining 261,000 euros until 300,000 euros - 39 thousand euros.  

If the property you are going to buy is intended for a secondary residence, and has an acquisition cost of 250,000 euros and the appraisal value is the same, the bank will lend 80% of that value. That is, you will need to have available as initial capital 50 thousand euros.

So, the initial entry value that you will have to give to the bank to be able to proceed with your mortgage depends on the cost of the property, the acquisition and evaluation. But note that you can always pay a higher amount to the bank in order to amortize the maximum value of the credit at an initial moment, as well as you can do it at any time during the credit contract.

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