Housing credit in 2023

Mortgage credit is a popular option for anyone looking to buy a home in Portugal. In 2023, the Portuguese real estate market continues to rise, which can make the process of obtaining housing credit a little more challenging. However, there are some things buyers can do to improve their chances of getting finance.



First, it is important to have a good credit history. Banks and financial institutions will assess the buyer´s ability to pay the mortgage over time. This means that having a solid credit history and no outstanding debt is critical to getting a home loan.



In addition, buyers should consider their effort rate, that is, the ratio between the monthly loan installment amount and their income. Ideally, the effort rate should not exceed 30% of the monthly net income.



Buyers must also be prepared to offer a significant down payment. In Portugal, the minimum down payment required is 10% of the value of the property, but the higher the down payment, the better the chances of getting a mortgage with more favorable interest rates.



Finally, it is important to compare offers from various financial institutions before choosing the best home loan option. An excellent alternative is to consult a credit intermediary, which allows you to evaluate the best option for you at several banks. In 2023, Portuguese banks offer competitive conditions to attract buyers, so it is essential to research and choose the best financing for your situation.



With a little preparation and research, it is possible to obtain housing credit in Portugal in 2023 and make your dream of home ownership come true.

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