Note
Mortgage in Spain for Americans
Quick answer
Americans can buy property in Spain and ask Spanish lenders for a loan, and each lender decides. A dollar income against euro instalments carries exchange risk. US tax rules still apply, and a US lender will not usually take a Spanish home as security.
Applies toAmerican citizens living in the US or in Spain who want to finance a purchase.
On this page: 11 sections
§ 1The starting point
Americans buy property in Spain by the same process as other foreigners. The by-nationality section explains the tax and reporting points that are specific to Americans. This page belongs to the chapter in an overview of mortgages for non-residents and looks at borrowing.
§ 2What lenders decide
Spanish lenders decide whether they lend to American borrowers, in which currency and on what terms. We found no official statement or figure, so we give none. Spanish law on information, notary advice and fees applies whatever the passport.
§ 3Dollars and euros
An American’s income is usually in dollars, and a Spanish mortgage is usually in euros. The instalment moves with the exchange rate, so a weaker dollar makes the loan more expensive. Test the instalment against a weaker dollar, and read the rates chapter on currency.
§ 4A US loan
A US lender is unlikely to accept a Spanish home as security. If you borrow in the US to fund a Spanish purchase, the loan rests on other assets, and the rules are US rules. We do not cover them, and a US adviser should.
§ 5US tax and reporting
The US taxes citizens on worldwide income. Spanish bank accounts can trigger reports such as the FBAR and Form 8938. The home held directly is not reportable on them, according to the IRS table we read, but the accounts you use for the mortgage may be. The page on FBAR and Form 8938 in the by-nationality section explains this.
§ 6Documents
Expect to provide identity documents, your NIE, US proof of income and tax returns, bank statements and details of your debts. Foreign documents may need translation. The process chapter covers the documents.
§ 7Residence
A purchase gives no right to live in Spain. The residency section and the by-nationality section explain the visa routes for Americans.
§ 8Advice
Use a Spanish lawyer for the contract and a tax adviser who knows both systems. What to know about expats covers borrowing when your income is abroad.
§ 9Questions to put to a lender
Ask whether the lender lends to American non-residents, which income and currencies it accepts, whether it needs an account in Spain, and how it treats US documents. Ask for the answers in writing and keep the standard information sheet.
§ 10Estate and gift
The US taxes gifts and estates of citizens wherever they live, and Spain taxes inheritance of property in Spain. A cross-border estate needs advice in both countries. Discuss it with your advisers before you take on a loan that your heirs would inherit.
§ 11More on this topic
What to know about the deposit explains the deposit and the cash needed beyond it and what to know about loan to value explains the loan-to-value ratio.
What to know about a holiday home explains financing a holiday home as a non-resident and what to know about self-employed borrowers explains the questions a self-employed borrower faces.
What to know about retired borrowers explains the questions retirees face and what to know about British borrowers explains borrowing as a British citizen.
FAQRelated questions
Do Spanish lenders lend to Americans?
Some do, on their own terms. We found no official rule or figure. Ask lenders and registered intermediaries for written offers, and be ready to document US income, tax records and assets, perhaps with translations.
Can I use a US mortgage?
A US lender will usually not accept a Spanish home as security, so a US loan for a Spanish purchase generally means borrowing against something else. That is a US matter, so ask a US adviser.
Does the loan change my US reporting?
Foreign accounts may need to be reported, though the home itself held directly is not reportable on the forms we read. The by-nationality section explains. Ask a US tax adviser about interest and the home.
Sources
- Boletín Oficial del Estado: Ley 5/2019, de 15 de marzo, reguladora de los contratos de crédito inmobiliario (official source, opens in a new window), Articles 8, 10, 14 and 15 read; later articles not readLast checked 18 October 2026
- Banco de España: La ley reguladora de los contratos de crédito inmobiliario (Boletín Económico, 1T 2019, recuadro 5) (official source, opens in a new window), Allocation of costs, early maturity, information dutiesLast checked 18 October 2026
Financial note. No rate is printed unless it comes from a dated, official publication. Capital is at risk, exchange rates move, and no lender, broker or provider is recommended here. Mortgage terms are set by each lender; ask a registered intermediary about yours.