Buying a house with a mortgage: What documents will the bank ask me for?

Home loan: What documents need to be submitted to the bank?

Identification of the holders

First, it is necessary to identify the holders who will propose to take out the credit.  

Identification can come from documents such as Citizen Card, Identity Card, and/or Passport.

Tax Identification Number (contributor/NIF)

Afterwards, it will be necessary to present your Tax Identification Number (NIF), also known as taxpayer number.

If you don't present this number, you must provide a document proving it.  

Last IRS statement

It is also necessary to deliver to the bank the last IRS statement of the holders who apply for credit, as well as the tax assessment notice.

You can get both documents in your account on the Finance Portal of the Tax Authority.

Three last payslips  

Regarding the applicants, the bank still needs the three pay slips.

The objective is for the banking institution to prove the amount earned from net monthly income of future credit holders.

Three latest monthly bank statements.

Just like your payslips, the bank also requests the three latest monthly bank statements for your current accounts.  

This is to confirm the client's solvency, through their regular expenses debited from the account. For this, the bank analyzes expenses for food, electricity, communications, insurance, and also movements that may seem suspicious (for example, if money is withdrawn from casino ATMs, it may indicate gambling adherence, representing a risk).

Credit responsibilities map

This is a document that shows information about the current and past credit of a client.  

The goal is for the banking entity to evaluate if the consumer has had financial occurrences: debts or default on credit installments.

Employer's statement about the contract bond

Finally, it is necessary to deliver a statement from the employer in which the proposed credit holders work, with the nature of the contract bonds.

In other words, the bank entity needs to know if the contracts are fixed-term or permanent. It is also a risk analysis factor because if the contract is permanent, that is, effective, the bank considers there to be less risk.

In addition, it should be noted that if there are guarantors, they must deliver exactly the same documents to the bank.

If you are going to go through the process of buying a house through a housing loan, know that you can get help for free. With a credit intermediary like those at Poupança no Minuto, it is easier to gather all the paperwork so that no document is missed.

How to choose the bank where to apply for a home loan?

The secret to knowing which bank to choose when hiring your home loan is to request proposals from several.

Only by analyzing the different conditions presented in the market, will you know which proposal is most advantageous for you.

Therefore, when evaluating which bank to choose, consult the European Standardised Information Sheet (ESIS) - a document provided by each bank detailing all credit conditions. With this sheet, you can compare which conditions are most favorable for you: consider savings, but also your preferences.

For example, it is probably possible to save with a cheaper life insurance, but analyze which coverages are most suitable for your family group.

Another factor to consider is that, as a rule, banks suggest that you subscribe to the required insurance policies (life and multi-risk) with the associated insurer. But know that, by law, it is not mandatory, so you can contract the insurances with an external entity. In other words, this is always a matter that can be negotiated with banks at the time of proposals.

To choose the right bank and mortgage credit, you can always turn to the help of mediators. The credit intermediaries Poupança no Minuto are with you from the beginning to the end of the process, taking care of all the paperwork and being available to help you with all your questions.    

✅ Simulate now and take the first step to conquer your property.