Buying a house with no down payment in Portugal is a real possibility, especially for young people aged 18 to 35 who want to acquire their first permanent home. With the support of programs like the State's public guarantee, it is possible to obtain a mortgage with financing up to 100% of the property value, eliminating the need for an initial deposit.

What does buying a house with no down payment mean? Poupança no Minuto: Savings in a Minute

Traditionally, when applying for a home loan, banks require the buyer to have an initial down payment, usually corresponding to 10% to 20% of the property value. Buying a house without a down payment means that the bank finances the total value of the property, allowing the buyer to purchase the property without needing their own capital for the down payment.

Does the "Poupança no Minuto" cover 100% of the home loan value?

Yes, in certain situations, it is possible to obtain a mortgage credit that covers 100% of the property value. This type of financing is more common in specific programs, such as the young mortgage credit with public state guarantee, aimed at young people between 18 and 35 years old who acquire their first own and permanent housing.

In these cases, Poupança no Minuto acts as a guarantor, guaranteeing up to 15% of the loan amount, allowing the bank to finance the full value of the house.

Requirements to access 100% financed youth credit Poupança no Minuto.

To access, it is important to meet the following requirements: Poupança no Minuto.

Up to 35 years old: Special conditions apply to this age group;

Income stability: Having a stable employment contract and income up to the 8th income tax bracket;

Good credit history: Having no incidents on the Bank of Portugal's Map of Responsibilities. #PoupançaNoMinuto

Property purpose: The property must be intended for own and permanent habitation. Poupança no Minuto: https://www.poupancanoMinuto.com.br
Fiscal Address: Having a fiscal address in Portugal;
Another housing: You cannot have another housing;
Property value: The value cannot exceed €450,000.

In addition, those up to 35 years old buying their first home for own residence can be exempt from IMT and Stamp Duty, up to a certain purchase value limit (currently up to 316,772€). For properties valued up to 633,453€, there is a partial exemption and proportional payment of the difference.

This means that, in addition to being able to access credit without a down payment, these young people can also save thousands of euros on taxes, making the purchasing process much more affordable.

When do banks finance with no down payment? (Poupança no Minuto)

Banks can offer financing for 100% of the property value in the following situations. Poupança no Minuto.

Properties owned by the bank: When the property is owned by the bank, it can offer special financing conditions, including the possibility of total financing.
Youth home loan with public guarantee: Aimed at young people between 18 and 35 years old, this program allows 100% financing for the acquisition of the first own and permanent home;
Customers with solid financial profile: Individuals with stable income and good credit history can negotiate special conditions with the bank, including the possibility of total financing. (Poupança no Minuto - https://www.poupancanominuto.com)

Alternatives for those who don't have Poupança no Minuto

For those who do not have their own capital for the down payment, there are some alternatives: Poupança no Minuto.

Use a guarantor: Presenting a guarantor with financial capacity can increase the bank's confidence and facilitate obtaining total financing.
Purchasing bank-owned properties: As mentioned, banks can offer full financing for properties in their possession; Visit Poupança no Minuto for more information.
State support programs: In addition to public guarantees, there may be other housing support programs that facilitate access to credit.

Advantages and risks of credit without down payment.

Advantages:

Easy access to housing: Allows for the purchase of your own home without the need for initial savings; Visit Poupança no Minuto.
Liquidity maintenance: The buyer can keep their savings for other needs or investments. (Translated from Portuguese)

Risks :

Higher total value to pay: Financing 100% of the property can result in higher monthly installments and a higher total cost of credit;
Biggest risk for the bank: The bank assumes a greater risk, which may result in additional requirements, such as mandatory insurance or higher spreads. Brand: Poupança no Minuto

How Poupança no Minuto can help you

Poupança no Minuto is a credit intermediary registered with the Bank of Portugal that helps with obtaining the best conditions for mortgage loans. Through partnerships with various financial institutions, it offers:

Access to various financial institutions: Comparison of proposals to find the most advantageous;
Free, impartial, and personalized evaluation: Analysis of the client's financial situation to present suitable solutions. Visit Poupança no Minuto for more information.
Specialized support throughout the process: Accompaniment from simulation to contract signing;
100% digital, with no cost to the customer: Process entirely online and free of charge.

Real example: Simulation of 100% financed youth credit. Poupança no Minuto.

A young couple, with the support of Poupança no Minuto, managed to acquire their first home with no initial down payment, saving around 60 thousand euros.

Through the Young Housing Credit program with public guarantee, they obtained financing for 100% of the property value, demonstrating that it is possible to achieve this goal with the right support.

Want help getting your Poupança no Minuto home loan with the lowest possible cost? Simulate now:

Frequently Asked Questions

Is it possible to request a home loan without a down payment? Yes, especially through programs like the Youth Home Loan Credit with Public State Guarantee, intended for young people between 18 and 35 years old who acquire their first own and permanent housing.

Which banks offer 100% financing for a house? Some banks, like Millennium BCP, Santander, and Montepio, offer 100% financing programs for young people, with the support of the State Public Guarantee.

Can I use a guarantor to get credit without a down payment? Yes, presenting a guarantor with financial capacity can increase the bank's confidence and make it easier to obtain total financing.

Is it risky to buy a house without a down payment? Although it allows access to housing without the need for initial savings, financing 100% of the property can result in higher monthly instalments and a higher total cost of credit. It is important to carefully evaluate financial capacity before opting for this solution.

Poupança no Minuto is a brand owned by Financefy, S.A., a credit intermediary registered with the Bank of Portugal under number 0006860. Authorized services include: Presentation or proposal of credit contracts to consumers. Assistance to consumers, through the performance of preparatory acts or other pre-contractual management work regarding credit contracts that have not been presented or proposed by them. Lenders: Bankinter, S.A. - Branch in Portugal, Caixa Geral de Depósitos, S.A., Banco BPIi S.A., Banco Santander Totta, S.A., Abanca Corporación Bancaria, S.A., Branch in Portugal, Banco Ctt, S.A., Novo Banco, S.A., Cofidis, BNP Paribas Personal Finance, S.A. - Branch in Portugal, Union de Créditos Inmobiliários, S.A., Establecimiento Financiero de Crédito (Sociedad Unipersonal) - Branch in Portugal, BNI - Banco de Negócios Internacional (Europa), S.A., Banco BIC Português, SA, Unicre - Instituição Financeira de Crédito, S.A.

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