Getting a mortgage as a self-employed worker in Spain can be a major challenge, but it’s not impossible. Current data shows that only 35% of self-employed workers manage to secure mortgage financing on their first attempt, compared to 65% of salaried employees. However, with proper preparation, it’s possible to obtain good and competitive terms.
In 2025, banks have been easing some of the requirements for self-employed workers, especially for those with stable income and strong savings capacity. This article provides a complete guide to everything you need to know about obtaining a mortgage as a self-employed worker, from how it works, to the required documentation, the possible loan amount, and which banks offer the best conditions.
A self-employed mortgage is a bank loan intended for the purchase of a home, tailored to the circumstances of those who work for themselves.
Key features include stricter requirements, as banks demand more guarantees due to the perceived instability of self-employed income. Interest rates are often higher compared to mortgages for salaried employees (between 0.25% and 0.5% more). Additional documentation is usually needed, such as tax returns, activity reports, and, in some cases, guarantors.
The process is similar to that of a traditional mortgage but involves a much stricter solvency analysis. Banks usually assess your income not only based on your latest tax return but also looking at the last 2 to 3 years. They also evaluate the sector in which you work—some industries seen as less stable, such as hospitality or construction, may face more challenges. Additional guarantees are often required, such as collateral or a larger down payment.
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A minimum of 2 years registered with Social Security is required (although some banks ask for at least 3 years), as well as a stable income without major fluctuations over the last 12 to 24 months.
A minimum down payment of approximately 20% to 30% of the property’s value is required (compared to 10% to 30% for salaried workers). For example, for a €200,000 home, you would need savings between €40,000 and €60,000.
The bank will usually require that the monthly payment does not exceed 30% to 35% of your net income. For example, if you earn €3,000 per month, the maximum accepted payment would be between €900 and €1,050.
It must be recorded that there have been no defaults in recent years, and that credit cards and loans are up to date.
Required Documentation
You will need the last 2 to 3 income tax returns (Modelo 130/131), quarterly income reports (Modelo 303), an up-to-date employment record, and exact bank statements from the last 6 to 12 months.
Depending on the bank, you may be required to provide a debt report (CIRBE), contracts with clients (if you have clients and recurring income), and a guarantor (in cases of having irregular income).
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This period will vary depending on the bank. For example, BBVA requires a minimum of 2 years as self-employed, or 3 years for those working in sectors considered high-risk. CaixaBank requires 2 years, Santander 3 years, Sabadell 2 years, and Bankinter 2 years as self-employed, with stable, registered, and verifiable income.
As a self-employed worker, you can obtain a maximum of 70% to 80% of the appraised value, unlike the 90% that a salaried worker might get. For example, if the house is worth €250,000, the bank may lend a self-employed person between €175,000 and €200,000, with a maximum term of up to 30 years, but under much stricter conditions.
In most cases, an opening fee of 0.5% to 2% of the loan is required — for example, between €1,500 and €6,000 for a €300,000 loan. The valuation costs between €300 and €600. Notary and registry fees can range from around €1,000 to €2,000, and taxes (ITP/AJD) depend on the autonomous community, ranging from 1.5% to 10% of the total value.
Taking all these expenses into account, the total estimated cost ranges from €5,000 to €15,000.
You should check your solvency by calculating your debt level and savings, compare banks using online simulators or with the help of a professional mortgage broker, and prepare all documentation such as tax returns, bank statements, etc. A pre-approval is also required, so before looking for a house, you must ensure that a bank will grant you the loan. Finally, you should sign the mortgage after the valuation and final approval.
Issuing invoices regularly and avoiding major fluctuations is ideal.
It is recommended to cancel existing credit cards and loans before applying for a mortgage.
If you have significant savings beforehand, the bank will consider the risks to be greatly reduced.
Hiring an industry professional is ideal, as they can help negotiate and secure better conditions
If your income is irregular, a family member can act as a guarantor, making the loan application appear less risky to the bank.
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Some banks accept the average monthly income over the past 2 to 3 years.
Yes, as long as these earnings are legally declared in Spain and supported by the corresponding invoices.
It usually takes between 3 and 8 weeks, depending on the documentation provided.
If your income varies significantly or too frequently, the bank may require you to provide a guarantor or a higher initial down payment.
You can improve your profile by saving more, reducing existing debts, trying with other banks that may offer more flexible terms (such as Bankinter or BBVA), and considering hiring a mortgage broker, who has the expertise to secure favorable mortgage conditions for their clients.
Yes. In fact, some banks offer special conditions for self-employed professionals in certain sectors, such as doctors, engineers, or IT specialists working independently.
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Obtaining a mortgage as a freelancer has traditionally been seen as an extremely difficult process. However, in 2025, it is more accessible than ever—though it still requires solid preparation, thorough documentation, and patience. If you can prove your income is stable, that you have sufficient savings, and a clean financial record, you may access competitive and favorable conditions.
Flexible banks such as BBVA, Bankinter, or CaixaBank are good options, but seeking advice from a professional and reliable mortgage broker can make it easier to find the best deal.
If you are ready to buy your home as a self-employed professional, remember the insights from this guide—each step will bring you closer to achieving your goal.
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