BUYING a Home with a MORTGAGE in Portugal as a Foreigner 🇵🇹

Рет қаралды 43,778

Күн бұрын

Josh from ExpatsEverywhere sits down with Rafael, a mortgage broker in Portugal, to talk about how expats can obtain a mortgage for a home. They discuss what is needed, if it can be done remotely, fees, renovating, and more. After he gets the logistics, he talks to Israel, someone who used Rafael's services. Israel explains how Rafael helped and if he's happy with him.
Want to get in touch with Rafael? Email us at contact@expatseverywhere.com so we can introduce you!
* ABOUT US *
Josh and Kalie left the US for a life abroad in 2009 and haven't looked back. They have lived in Spain, South Korea, Saudi Arabia, Singapore, and are currently in Portugal. Yes, they realize they only moved to countries starting with the letter "S" until they spoiled that streak with their move to Portugal. Follow ExpatsEverywhere as we aim to get information to you through expat interviews, city breakdowns, expat life, travel, vlogs, and more.
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Chapters
00:00 Intro
00:37 Is it possible for me as a foreigner to get a mortgage in Portugal?
01:00 Do I need credit in Portugal?
01:24 Do I need a NIF?
01:36 Are there any other documents that I’ll need?
02:39 What age group would be eligible for a mortgage?
03:48 What are the current and historical interest rates?
04:38 Variable vs fixed rate, which one is better?
05:21 Is it important that you shop rates or do all the banks offer the same thing?
05:43 How much are your fees?
06:57 Can I repay the mortgage early?
07:30 Can you take me through the process from start to finish?
08:17 What documents are needed?
08:55 Can I purchase a property for rehab and then mortgage the total project costs?
09:46 Is the process to get this kind of mortgage really different?
10:02 What would the down payment be?
10:25 Is there anything else I need to know about getting a mortgage in Portugal?
11:33 Meeting Rafael's Client
11:35 How did you first meet Rafael?
12:35 What was your buying process like?
14:23 How long was your process?
15:44 Did you have to verify yourself with Rafael?
17:46 What other documents did you need to show?
18:36 How much were Rafael’s services?
19:50 Were Rafael’s services worth it? Would you recommend Rafael?
21:23 Recap

Пікірлер: 337

@gerrykeane3165 2 жыл бұрын

Thanks!

@ExpatsEverywhere 2 жыл бұрын

This is really kind, Gerry. We appreciate the channel support for content like this. - Josh & Kalie

@emilias5681 2 жыл бұрын

I bought my apartment with Rafael. I had no stress and all the steps in the process were fantastics. He is a person to be trust.

@ExpatsEverywhere 2 жыл бұрын

That's for the vote of confidence, Emilia. We're on this journey. Congrats on buying an apartment. 🙌 - Josh & Kalie

@keepcreationprocess 2 жыл бұрын

How do i get in touch with Rafael ?

@wardsworld 2 жыл бұрын

Hi Emilia how can I get in contact with Rafael?

@rafaelfonsecaportugal 2 жыл бұрын

Documents needed for the MORTGAGE: Passaport, Tax Return, 3 last paystubs and bank statements and Credit Report. Marriage certificate (if necessary) and NIF (Fiscal number in Portugal) that you can send it later to the banks. If you are married the banks will also need your partner´s documents listed above.

@rafaelfonsecaportugal 2 жыл бұрын

You can quote your mortgage with us even without a NIF (Portuguese Fiscal Number). We will send you the bank proposals so you already know which bank works better for you. Later when you start looking for your property our team can issue your standard NIF. (ADVICE: Avoid the provisional NIF issued by some banks just to open an account when you are abroad. Later to get the standard NIF you will have to cancel the provisional one and only then start the process for the standard NIF and this process can take time and delay your process). Talk to our team and get ASAP the standard NIF avoiding delays in your mortgage process.

@debbieb9815 2 жыл бұрын

I am married but if I buy a home in Portugal it will be purchased using my inheritance funds. In the US I am allowed to keep that as a separate asset from my husband so my children from a previous marriage can inherit it and any sole property I purchase with it. I cannot co- mingle it or that protection for my children is gone. So my question is- as a married woman can I purchase property in Portugal in my name only using only my documentation?

@rafaelfonsecaportugal 2 жыл бұрын

@@debbieb9815 Hi Debbie. Thanks for you comment. Yes, it can be done using a declaration of marital property regime. Talk to our team so we can provide further information on this matter.

@zuzannama5908 2 жыл бұрын

Hi Rafael, very informative session, thank you. Any chances contacting you via email in order to ask additional questions?

@mascaretllcmanager7481 2 жыл бұрын

Sound quality in last interview is lacking-would have been wise to conduct sound check with guest prior to the interview. Fortunately the mortgage broker was clear.

@theloanarranger1627 2 жыл бұрын

Hey Josh, cool videos. We've lived in Portugal for 2 yrs now. Just wanted to add a couple things here from my observations and experience. Not all banks / mortgages require life insurance, it can be negotiated. Of course the banks want you to have it because it's extra profit on your loan, but if you have a pretty strong profile, it can be avoided. Another thing to consider is that debt to income ratio in Portugal is calculated based upon net income, not gross which is totally different than the US. Your mortgage broker seems sharp. Boa sorte!

@ExpatsEverywhere 2 жыл бұрын

Thank you very much. We appreciate it. Rafael has been very helpful so far. All the best to you. Hope you're enjoying Portugal. - Josh & Kalie

@michelleachacoso4983 2 жыл бұрын

Great Information! Thank you!

@ExpatsEverywhere 2 жыл бұрын

Our pleasure! Than you. - Josh & Kalie

@thestunlaw1695 2 жыл бұрын

Outstanding video Josh. Thank you.

@ExpatsEverywhere 2 жыл бұрын

Glad you liked it! Thank you. 🙏 💪 - Josh & Kalie

@Raj-bi7xp Жыл бұрын

As always, very informative Video about mortgage and house purchase by Expat everywhere! You asked the right questions that were bothering me! Best wishes!

@newblacc 2 жыл бұрын

that is exactly what i looking. Thank you for the video

@ExpatsEverywhere 2 жыл бұрын

Awesome! So glad to hear it. - Josh & Kalie

@KRD137 2 жыл бұрын

As always Great job Josh & Kelie !! You're my heroes . Wish you all the best !!! Thanks

@ExpatsEverywhere 2 жыл бұрын

Thank you! You too! We appreciate the kind words and support. - Josh & Kalie

@wg933 2 жыл бұрын

Thanks Josh! Incredible information to have. You and Kalie are doing great things. Very much appreciated!

@ExpatsEverywhere 2 жыл бұрын

Thank you very much, WG! That's really encouraging to hear. 🙏 We really, really appreciate this comment. - Josh & Kalie

@Hello_Pri 2 жыл бұрын

Really great information. Thanks for the video!

@ExpatsEverywhere 2 жыл бұрын

Thank you. We're glad you think so. - Josh & Kalie

@gracielapereda1663 2 жыл бұрын

Thanks so much for this video, very informative

@ExpatsEverywhere 2 жыл бұрын

You are so welcome! We appreciate you watching and calling it informative. That's one of our targets for our videos. - Josh & Kalie

@terrisokolow7796 2 жыл бұрын

A wealth of great information when purchasing a home in Portugal! Wonderful video, great job, Josh!

@ExpatsEverywhere 2 жыл бұрын

Thank you. 😁 - Josh & Kalie

@ampedcrypto808 2 жыл бұрын

Great video!!

@ExpatsEverywhere 2 жыл бұрын

Thanks! - Josh & Kalie

@Lion-fj3wp 2 жыл бұрын

Thank you, Josh you asked all the questions I needed Answers to .Wow!🌍

@ExpatsEverywhere 2 жыл бұрын

Awesome! We're glad we were able to answer all your questions. 😁 - Josh & Kalie

@romangerardo7068 2 жыл бұрын

Amazing video!… really informative and perfect timing for me… thank you 🙏🏻

@ExpatsEverywhere 2 жыл бұрын

Thanks, Gerardo! We appreciate it. Thanks for the email too. - Josh & Kalie

@zuchs1969 2 жыл бұрын

Excellent video! Answered a lot of our questions/concerns.

@ExpatsEverywhere 2 жыл бұрын

Thanks, Caroline! We're glad to hear we answered so much for you. - Josh & Kalie

@aaroneast960 2 жыл бұрын

My fav vid so far! Great information! Thanks so much!

@rafaelfonsecaportugal 2 жыл бұрын

Thank you for the support Aaron! For further information: contact@expatseverywhere.com

@ExpatsEverywhere 2 жыл бұрын

That's so awesome to hear, Aaron!! We appreciate it. - Josh & Kalie

@claudiorama5208 2 жыл бұрын

Thanks for the information!

@ExpatsEverywhere 2 жыл бұрын

You're welcome. Thanks for watching. - Josh & Kalie

@ricmorgaccio9716 2 жыл бұрын

Great interview with the realtor guy. Enlightened a lot of topics! Thumbs up!

@ExpatsEverywhere 2 жыл бұрын

Thanks, Ric. We appreciate it. - Josh & Kalie

@lucianacoutinho4484 2 жыл бұрын

Last Year I had an online chat with Rafael and he seems really experienced and realible economist.

@ExpatsEverywhere 2 жыл бұрын

Thanks for sharing your experience with Rafael, Luciana. - Josh & Kalie

@sagmahi 2 жыл бұрын

Thank you for this....you guys always provide information rich videos and this one is so useful. Rafael sounds like gem, too! Good luck to you, Kalie and Cia, the vertical community sounds so awesome! ✌🏾❤🇵🇹

@ExpatsEverywhere 2 жыл бұрын

Our pleasure! Thanks for watching. Sorry for the delayed reply. We appreciate the comment and encouragement. Rafael has been great. - Josh & Kalie

@scooter10421 2 жыл бұрын

Great content!

@ExpatsEverywhere 2 жыл бұрын

Thanks, scooter! - Josh & Kalie

@wisnomjr 2 жыл бұрын

Great video, thank you.

@ExpatsEverywhere 2 жыл бұрын

Thanks, Jeffery. All the best to you. - Josh & Kalie

@flaviamitkiewicz3125 2 жыл бұрын

Amazing you can finance in Portugal using Tax Returns from Canada and US

@ExpatsEverywhere 2 жыл бұрын

😊 - Josh & Kalie

@eubrunofonseca 2 жыл бұрын

I am buying next year my house in Portugal! Thank Rafael! I live in Miami today!

@ExpatsEverywhere 2 жыл бұрын

Nice! Congrats. 😊 - Josh & Kalie

@allison2848 2 жыл бұрын

Excellent video, and extremely appreciated by me! Thank you so much! I needed this info!

@rafaelfonsecaportugal 2 жыл бұрын

Hi Alisson. Thank you for your support. If you need further information please let us know.

@ExpatsEverywhere 2 жыл бұрын

Thank you, Allison! We are happy you're so pumped about the video! - Josh & Kalie

@2L84goodbye 2 жыл бұрын

A lot of great information on this video..

@ExpatsEverywhere 2 жыл бұрын

Thank you. 🙏 - Josh & Kalie

@amerlinphycian8132 2 жыл бұрын

The KZfaq is very informative, you're a good interviewer. Thanks.

@ExpatsEverywhere 2 жыл бұрын

We appreciate that! We aim to be informative! - Josh & Kalie

@fabriciocesarschmitt5606 2 жыл бұрын

Very amazing and clarifying video in which Rafael explains lots of details and helps people understand the process in Portugal. Thanks for all your tips and professional knowledge!!

@rafaelfonsecaportugal 2 жыл бұрын

Thank you Fabricio for you support! For further information: contact@expatseverywhere.com

@ExpatsEverywhere 2 жыл бұрын

Thank you. We appreciate it. We're glad that you liked the video. 😁 - Josh & Kalie

@daylight5500 2 жыл бұрын

Good one, as always. Listened on headphones, great stereo "swish" on "Let's get movin".

@ExpatsEverywhere 2 жыл бұрын

Thank you very much! Is there a great stereo on "Let's Get Movin'"? The jet sound? That's fun! 😁We're about to dabble into more sound effects on our video. 😅 Wish us luck. - Josh & Kalie

@daylight5500 2 жыл бұрын

@@ExpatsEverywhere Yes, travels through my head, proves that there is no vacuum there(good to know). Good luck(or "Break a Leg" as they say in the theater world) for everything. You guys are having a great adventure, stay safe.

@gustavomorgado5699 2 жыл бұрын

Great video! It's very enlightening and provides accurate information for those, who want to get a property in Portugal. Thanks!

@rafaelfonsecaportugal 2 жыл бұрын

Thank you Gustavo. We do appreciate it.

@ExpatsEverywhere 2 жыл бұрын

Thank you, Gustavo. - Josh & Kalie

@ricomorgado 2 жыл бұрын

Great video! Helps people understand the nuts and bolts of real estate financing in Portugal. Kudos! 👌

@ExpatsEverywhere 2 жыл бұрын

Thanks, Ricardo!! - Josh & Kalie

@jadexplores2100 2 жыл бұрын

Thank you for this video! I'm currently in Lisbon and found it very helpful.

@ExpatsEverywhere 2 жыл бұрын

You're very welcome, Jade. 😁 How's life in Lisbon for ya? - Josh & Kalie

@jadexplores2100 2 жыл бұрын

@@ExpatsEverywhere It's awesome (as always)! I'm only here for a month this time but already planning my next trip (soon) for longer :D

@eduardomoreira1551 2 жыл бұрын

Great vídeo! Rafael explain step by step what is necessary to get a mortage.

@rafaelfonsecaportugal 2 жыл бұрын

Thank you Eduardo. Any questions you have we are available to answer it anytime. Kind regards

@teodoro1007 2 жыл бұрын

This videos are full of treasures. Porto is really interesting for Valencias education, far better than Lisbon IMHO. You made a video in July in Coimbra with Sandra Fonseca from Radical, and showed three studios, the first one Combatentes 125A 5B. Well, I now rented 5 C till end of 2022 in order to apply for the NHR regime. It´s still empty, but I have a KLM flight on December 28th from EZE (Buenos Aires) to Madrid. My plan is to spend new year in Coimbra. I reiterate, I´m a Schengen pass holder, so I don´t need to do paperwork from overseas. Your videos are a great guidance for me. Thank you!

@ExpatsEverywhere 2 жыл бұрын

Thanks, Teo! We appreciate the update and we're glad that Sandra could get you a spot. 😊We're glad to hear that our videos have been a great guidance for you. - Josh & Kalie

@debbieb9815 2 жыл бұрын

This was a great video with clear information on getting a mortgage. Thank you so much!

@rafaelfonsecaportugal 2 жыл бұрын

Thank you Debbie. Our team is at your disposal anytime. Kind regards

@ExpatsEverywhere 2 жыл бұрын

You're welcome. Debbie B. We're happy to hear it! - Josh & Kalie

@anadossantos1429 2 жыл бұрын

Excellent video 👌

@ExpatsEverywhere 2 жыл бұрын

Thank you 👍 - Josh & Kalie

@hugokahtalian1586 2 жыл бұрын

Excelent explanation!!

@rafaelfonsecaportugal. 2 жыл бұрын

Thank you Hugo for you support! Merry Christmas

@ExpatsEverywhere 2 жыл бұрын

Thank you very much, Hugo! - Josh & Kalie

@eduardogisi8504 2 жыл бұрын

Excellent presentation! Rafael is a very polite person, extremely trustworthy and with a very high level of professionalism. I recommend it to everyone!

@rafaelfonsecaportugal 2 жыл бұрын

Hi Eduardo. Thank you very much for your compliment and support.

@ExpatsEverywhere 2 жыл бұрын

Thanks, Eduardo. We appreciate the vote of confidence. - Josh & Kalie

@RichAction 2 жыл бұрын

Excellent video 🎉🎊🎉

@ExpatsEverywhere 2 жыл бұрын

Thank you very much! We appreciate it. - Josh & Kalie

@cleaningtime8156 2 жыл бұрын

Great Video very informative.

@rafaelfonsecaportugal. 2 жыл бұрын

Hi Cleaning Time. Thank you for your support. Glad you liked it.

@ExpatsEverywhere 2 жыл бұрын

Thank you very much! - Josh & Kalie

@kistmyst8247 2 жыл бұрын

Great video, Josh! We're hoping to find a place in which we can purchase outright but with home prices continuing to rise this might not net us a suitable property so a future mortgage might be needed. Very informative. Thank you and good luck to you & Kaley in finding a home that you will love.

@ExpatsEverywhere 2 жыл бұрын

Thank you!! Thanks for sharing about your property hunt and buying desires. We'd love to have the cash to buy outright too. You can get better deals that way I think. - Josh & Kalie

@sharoncuadra3174 2 жыл бұрын

Great video. Very informative and the way to go.

@ExpatsEverywhere 2 жыл бұрын

Thank you, Sharon! We're glad to hear it's informative. - Josh & Kalie

@rafaelfonsecaportugal. 2 жыл бұрын

Hi Sharon! How is it going? Love your horses! Thank you for your support.

@sharoncuadra3174 2 жыл бұрын

@@rafaelfonsecaportugal. I hope to move in 1-2 years and hope you can help me.

@elizabethreynolds6874 2 жыл бұрын

Wow! Invaluable information! Well done. 🙏

@rafaelfonsecaportugal 2 жыл бұрын

Thank you Elizabeth. The Expats Everywhere team is at your disposal anytime.

@elizabethreynolds6874 2 жыл бұрын

@@rafaelfonsecaportugal 🙏🤗

@ExpatsEverywhere 2 жыл бұрын

😊 You're the best! - Josh & Kalie

@kathleenwestmacott1845 2 жыл бұрын

Hi Josh , this is Kathleen . I used to belong to your patron page . I spent a month last year traveling Portugal And I believe I will come again in Sept and look for a place to buy . I have learned so much from you &. Kalie and am so very great full to both . I am looking at the Algarve , Real de Sontago ( spelling ) . So please give Kalie and your beautiful Daugherty my best . I may join your Chanel again for advise and referrals . Take good care of your beautiful family !

@ExpatsEverywhere 2 жыл бұрын

Hi Kathleen, it's good to hear from you again. We're glad that you learned so much from us. We're happy to provide that information. I'll let Kalie and Cia know that you said hello. Vila Real de Santo Antonio? Hope you do join again. Support like yours helps. 💪 - Josh & Kalie

@user-km1lw3zn6z 10 ай бұрын

you're still paying the interest only payments there fellaw on the rehab loan.... just wanna make sure we are on the same planet. Love it!

@JoaoGomes-es5iu 2 жыл бұрын

Very good

@ExpatsEverywhere 2 жыл бұрын

Thanks, Joao! - Josh & Kalie

@rtortima 2 жыл бұрын

Nice explanation on a subject kind of tricky, specially for a newcomer like me...

@rafaelfonsecaportugal 2 жыл бұрын

Thanks Raul. We are waiting for you and Vivi here in Portugal.

@ExpatsEverywhere 2 жыл бұрын

Thank you, Raul. - Josh & Kalie

@rmimoveis3027 2 жыл бұрын

Boa! Rafael é meu contato número 1 quando se trata de imóveis em POrtugal

@ExpatsEverywhere 2 жыл бұрын

😁 - Josh & Kalie

@JenShea 2 жыл бұрын

Great info! I worked in insurance in Canada for several years. Never buy your mortgage insurance from the bank!! It sounds like Portugal is the same. When you buy it from the bank, they are the beneficiary (to cover the mortgage)… the thing is that the bank gets all of it. So if you get insurance for the balance owing, and then pay down the mortgage, the bank gets all the money… even if the debt is half of what it was. Buy it separately then the money goes to the beneficiary to pay off the balance of the mortgage, and then they can keep the rest of. The money.

@rafaelfonsecaportugal. 2 жыл бұрын

Hi Jen. Thank youvery much for your comment and support. Kind regards.

@ExpatsEverywhere 2 жыл бұрын

Hey Jen! Thanks for the comment. Sorry it took a few days to reply. We've been on the road. 😅 - Josh & Kalie

@davidlourenco7225 2 жыл бұрын

good morning my beautiful people if you plan on living in Portugal check figueira da foz it's in the center of the country's coast standard of living much cheaper than Lisbon or Porto and close enough to go to Lisbon or Porto as often as you want

@thomashawker2883 2 жыл бұрын

Hey Josh, another great video. In addition to the 20%-30% down payment, the buyer will pay an estimated 7% to 9% in closing costs based on the purchase price, plus the cost of a solicitor or lawyer to help with the process of making sure everything is legal. (IMI) Municipal property tax: 0.3% to 0.5% (IS) Tax stamps: 0.8% (IMT) Municipal real estate transfer tax: 4.42% to 4.7% Notary fees and land registration fees: 0.2% to 1.2%

@ExpatsEverywhere 2 жыл бұрын

Thanks, Thomas. Yeah, there are a lot of up front costs involved with buying here especially compared to other places around the world. It feels pretty daunting doesn't it. Have you all bought here already? - Josh & Kalie

@thomashawker2883 2 жыл бұрын

@@ExpatsEverywhere It is not official yet (a well known developer in Lagos has to get the construction license est. 1/22, then we can sign the promissory contract), but I would say yes, it is new construction in Lagos, between Dona Ana and Camilo beaches. We will have a sea view to Dona Ana. Estimated completion is Spring 2024. You, Kalie, and Cia will be welcome to use it when it is done. We will keep you posted on our journey over the next two years.

@flaviamitkiewicz3125 2 жыл бұрын

Hi Thomas. Let me try to help a little bit. The IMI is not a closing cost, you pay it in the subsequent year of the purchase and you can get a exemption of 3 years if it’s your first house in Portugal. Stamp tax is exactly 0,8% as you said but the Notary fees and land registration is not a percentage of the deed, it is currently 990€ or less, depending where is the deed. The IMT depends if it’s a house for rent or for living and it is an exponencial curve starting from 92.000€ (below that value IMT = zero). An IMT for a house of 250.000 will be 8.412€ (3,3%)or 9.336€ (3,7%) just as an example. So in that case of a 250.000€ property the closing cost are 4,9% even for a secondary house. Hope it helps!

@thomashawker2883 2 жыл бұрын

@@flaviamitkiewicz3125 Thanks Flavia. So much good information! As buyers, I think we all like to have an idea in mind when shopping for a home. It helps us save and/or budget.

@annatarasenko903 2 жыл бұрын

Thank you so much!!! We are moving to Portugal soon and are looking for a property:) would love to meet with you one day!

@ExpatsEverywhere 2 жыл бұрын

Keep us posted, Anna. - Josh & Kalie

@12thparsec 7 ай бұрын

This is such a helpful video! I'm curious how this works if you plan to do a mix of the work yourself and with a contractor. I can do some of the cosmetic work and landscaping, for example, but wouldn't be able to do the roof

@rodrigor1702 2 жыл бұрын

Muito bom

@ExpatsEverywhere 2 жыл бұрын

Thank you, Rodrigo! - Josh & Kalie

@rafaelfonsecaportugal. 2 жыл бұрын

FIXED and VARIABLE RATE, which one is better? Both fixed and variable rate are at historic lows. So you can go with a fixed rate (that is usually higher than the variable rate) and get the same installments every month during the entire mortgage term (that gives you a perfect cash flow forecast) OR you can choose the variable rate which is indexed to Euribor (Euro Interbank Offered Rate) and get your installments lower or higher, depending on the Euribor rate announced by the EMMI for the current period. The rates for Euribor usually are function of the inflation in Europe.

@pedrosilvamarques8349 2 жыл бұрын

Euribor is not an European Central Bank Rate

@chismetime4u Жыл бұрын

Hi Rafael, can retired people be guarantors in Portugal for a mortgage?

@rafaelfonsecaportugal. Жыл бұрын

@@chismetime4u Yes! It´s for sure possible.

@melissapowell4446 2 жыл бұрын

So glad to hear you can get a loan to renovate a property as well as purchase it! We won’t be moving until 2024, but will keep Rafael in mind when we are ready!

@rafaelfonsecaportugal 2 жыл бұрын

Thank you Melissa. Our team is ready to help you whenever you are ready to purchase a property. Please fell free to contact us when the time comes. Kind regards

@ExpatsEverywhere 2 жыл бұрын

We're pretty happy about it too! 😁 - Josh & Kalie

@rafaelfonsecaportugal 2 жыл бұрын

@Karina Oliveira Sure Karina. I work in the entire country and Islands. We can schedule a meeting so I can understand your plans and answer initial questions that you might have. Rafael

@vodcome 2 жыл бұрын

Great information, Buying and renovating is similar to the US. You get the mortgage, and a construction loan.Whats different is the requirement to obtain Life insurance to cover the total amount of the loan. Rates between banks sounds similar, so I guess it's a matter of how the bank chosen operates. Surrendering personal information has been tricky since you are not physically there. This was my concern giving all the financials to VFS global handling the visa application.

@ExpatsEverywhere 2 жыл бұрын

Thanks! Yeah, it feels weird to just send that information away. It's opposite what we're told for cyber security, isn't it? - Josh & Kalie

@terezacristina3431 2 жыл бұрын

Rafael, I live in Aracaju city, Brasil. Its very important to Know your excelent job in Portugal. I wish success Forever 👏👏👏🍀🍀🍀

@rafaelfonsecaportugal. 2 жыл бұрын

Hi Cris! Nice to hear from you! Thank you for all your support. Kind regards

@ExpatsEverywhere 2 жыл бұрын

Lovely.

@Beanyvids 2 жыл бұрын

I think the biggest takeaway here is that in Portugal, bank mortgage guys hang out in awesome leather jackets. Another reason to go to Portugal.

@ExpatsEverywhere 2 жыл бұрын

😂 Leather jackets for the win! - Josh & Kalie

@wendylmorris3872 2 жыл бұрын

Josh, that was a very informative video! I will be on touch with you privately about the broker.

@ExpatsEverywhere 2 жыл бұрын

Thanks, Wendy! I appreciate it and saw your message. I wrote you back. 😁 - Josh & Kalie

@pteichner 2 жыл бұрын

Thanks

@pteichner 2 жыл бұрын

Thanks for the useful information Josh, we're in a process of moving. Would you be able to send the information of the broker please?

@ExpatsEverywhere 2 жыл бұрын

Thank you so much for the channel support, Peter. - Josh & Kalie

@ExpatsEverywhere 2 жыл бұрын

Shoot me an email at contact@expatseverywhere.com and I would be happy to make an introduction. - Josh

@pteichner 2 жыл бұрын

@@ExpatsEverywhere dropped you a mail Josh & Kalie

@ExpatsEverywhere 2 жыл бұрын

We got it! Thanks, Peter.

@travellerswill 2 жыл бұрын

He is a mortgage broker which takes commission off the bank provider. It works very similar to Australia but the interest rates are much lower in Europe than in Australia in terms of mortgages.

@edesouza2279 2 жыл бұрын

We have mortgage brokers here in Canada as well. Twenty years ago I utilized a mortgage broker to get my first mortgage. It didn’t cost me anything and I got a mortgage at a much lower rate with one of the top banks, and at a much lower interest rate than what I would have been received from the bank if I had gone to them directly. At one point, I wanted to take the Mortgage Broker training. There is good money to be made as a Mortgage Broker. The big banks pays good commission to Brokers for the businesses they bring to them.

@ExpatsEverywhere 2 жыл бұрын

Thanks for sharing. - Josh & Kalie

@angeliquemechel 2 жыл бұрын

Mortgage brokers in Portugal make their commission from the bank. We started with a mortgage broker and, after clearing it with him, requested a mortgage from our bank which he had no relationship with, and they ended up offering us the best deal. He had no issues with us choosing our own bank even though he would not get a commission.

@patriciafonseca5250 2 жыл бұрын

I bought an apartment with Rafael and he support me with the mortgage, It was really great!👍🏻

@rafaelfonsecaportugal 2 жыл бұрын

Thanks for your support Patricia. Merry Christmas!

@ExpatsEverywhere 2 жыл бұрын

Thanks for sharing your experience, Patricia! - Josh & Kalie

@yuzi8693 Жыл бұрын

@@rafaelfonsecaportugal May I contact you for my mortgage plans? Thanks in advance!

@flaviamitkiewicz3125 2 жыл бұрын

👏🏻👏🏻👏🏻

@ExpatsEverywhere 2 жыл бұрын

😁 Thanks. - Josh & Kalie

@JasonJFlippingLife 2 жыл бұрын

Fantastic video Josh and Kalie. Very much needed in this space. I spoke with Millenium when I was there in Portugal about the mortgage process, but your video added a few bits of info. Do you know if their are options for cashout refis in Portugal? In other to scale faster. That's the one thing as an investor that would give me pause to shift funds into more than 1 Portuguese property.

@jmbpinto73 2 жыл бұрын

Yes, it is possible to refinance, provided you stay within the loan to value ratio. "Value" is determined by the external appraisal ordered by the bank, they organize that you just have to wait for it to be done.

@rafaelfonsecaportugal. 2 жыл бұрын

Hi Jason. If you already have your current mortgage around 50% paid you can go for a cash out refinance to acquire other property.

@ExpatsEverywhere 2 жыл бұрын

Hey, Jason, thank you. We appreciate the vote of confidence in the content we're creating. We'll let the pros take over answering you questions. 😅 - Josh & Kalie

@JasonJFlippingLife 2 жыл бұрын

@@rafaelfonsecaportugal. Thanks Rafael.

@RumblestripDotNet 2 жыл бұрын

You never save time or money rehabbing a property unless you are a professional contractor. Or better phrased, it will take you twice as much money and three times the amount of time you think it will.

@soniasousawachholz4496 2 жыл бұрын

Rafael is very qualified and we choose him to work with.

@rafaelfonsecaportugal 2 жыл бұрын

Thanks Sonia! I do appreciate it. Please send my best to Chris!

@ExpatsEverywhere 2 жыл бұрын

😁 Thanks for sharing, Sonia. - Josh & Kalie

@raynatchakarova4370 2 жыл бұрын

Thank you for the great video and all the information. Can you please let me know how to contact Rafael? I need to ask him more specific questions.

@ExpatsEverywhere 2 жыл бұрын

You're very welcome. Thanks for your email. Good connecting with you over there. - Josh & Kalie

@thisgrant 2 жыл бұрын

Thanks Josh, great video with lots of detail! One point you seemed pleased about was the 2 years deferment on repayments other than interest for a renovations loan but to be clear, wouldn’t that just apply to the renovations loan and not the house mortgage? i.e. they are seperate loans so you would still be paying for 2 homes while you are renting and renovating the new home (i.e. rent+mortgage on house+interest on the 2nd renovations loan), correct?

@rafaelfonsecaportugal. 2 жыл бұрын

Hi Grant. Thank you for your comment. There are lot of variations on this matter. For example, 1) if you already have a land and you wanna construct a house you will be for two years paying an interest-only mortgage. 2) If you also want to finance the land (usually the banks don´t like to finance land but it´s possible to find a bank which finances 50% or maybe a little more) plus the construction then here even with two mortgages, one will not be so expensive and the other one will be interest only for 2 years. 3) You can also finance a house to renovate it, let´s suppose a property that when is completed costs 500.000€, so instead of paying a 500.000€ mortgage you will probably would be paying a regular mortgage of 300.000€ for a "second hand" house plus a 100.000€ interest only mortgage for the renewal. And when it´s done the renewed house will probably be appraised for 500.000€. It is still an advantage. I´ll be glad to show you other scenarios when you want to. Please get in touch with: "contact@expatseverywhere.com" for further information. Kind regards. Rafael

@ExpatsEverywhere 2 жыл бұрын

You're welcome, Grant. I think Rafael was able to answer your question regarding the options. Let me know if you want to connect with him. I'd be glad to. Email me at contact@expatseverywhere.com - Josh & Kalie

@give4kidz672 Жыл бұрын

This is so helpful, thank you! What is the best way to contact Rafael?

@ExpatsEverywhere Жыл бұрын

We're glad it was helpful. If you'd like we can make an introduction. Shoot me an email at contact@expatseverywhere.com it's night here but if I wake up to your email, I can see if he can respond to you tomorrow morning. - Josh

@Zafarimba 2 жыл бұрын

Contact Details for Rafael - the Mortgage advisor please?

@ExpatsEverywhere 2 жыл бұрын

Sure, email me at contact@expatseverywhere.com and I'll be happy to make the introduction. - Josh

@rafae5902 Жыл бұрын

Remember, when there's no service change, you are the product.

@MrReggelife 2 жыл бұрын

I just spent a week in Portugal looking at properties and I need to connect with Raphael. Can you make the introduction?

@rafaelfonsecaportugal 2 жыл бұрын

Hi Regge! Please send an email to contact@expatseverywhere.com

@elianebueno4918 2 жыл бұрын

👏👏👏👏

@ExpatsEverywhere 2 жыл бұрын

Thanks, Eliane! 😊 - Josh & Kalie

@kiwus87 2 жыл бұрын

Good information and thank you for that. I like to pay a fee, because then the broker has an obligation to me. Otherwise he's working for the Bank.

@rafaelfonsecaportugal 2 жыл бұрын

Usually you don´t need to do that here cause the commission is the same. Some banks are more friendly to account opening and remote mortgage process, these can be a good reasons to choose a bank.

@rogerchyne 2 жыл бұрын

Planning to byy a property in Portugal. Any Ideas

@ExpatsEverywhere 2 жыл бұрын

I have plenty of ideas. 😊 Email me at contact@expatseverywhere.com and we can chat about it. - Josh

@TravelLand1 Жыл бұрын

Hi, thanks for the information. Do you know by any chance what is the minimum down payment by percentage for the first and second property

@ExpatsEverywhere Жыл бұрын

You're welcome. Thanks for watching. We don't know if there's a hard and fast rule to be honest. Foreigners tend to get 80% though, but it really depends on the debt to income ratio and the lending rules of the bank. You'd probably need to chat with Rafael. If you'd like an intro, email me at contact@expatseverywhere.com - Josh

@valeriabilheupereirabieber6105 Жыл бұрын

Hello! Awesome video. It is possible I apply for the NIF online? Thank you all 🙏🏼

@ExpatsEverywhere Жыл бұрын

Hey Valeria, that's currently how you do it. We have a partner that we use called Bordr. There's a link in the description section of this video and if you use it, you get a discount on their service. - Josh & Kalie

@rafaelfonsecaportugal 10 ай бұрын

Check out our second interview about mortgages for foreigners in Portugal: kzfaq.info/get/bejne/hdiXga6jybWxaYk.html

@cherylterrell8331 2 жыл бұрын

Can you forward his information to me I’m going to Portugal in April and would like to schedule a meeting

@ExpatsEverywhere 2 жыл бұрын

Sure, email me at contact@expatseverywhere.com - Josh

@Westcoastknitting_podcast 2 жыл бұрын

Great interview. Do you need a D7 before you begin the mortgage process? Thank you 🙏🏾

@rafaelfonsecaportugal. 2 жыл бұрын

Hi Nurture. You don´t need VISAs of any kind to buy and finance a property in Portugal. The important is showing Tax Returns, PayStubs, Credit Reports, etc to the banks. Even if you want to buy the property remotely we can introduce lawyers to represent you during the entire process. We made a bunch of deeds remotely and the customer just has to come to Portugal, get the keys and start living at the new property.

@ExpatsEverywhere 2 жыл бұрын

Thank you. We appreciate it. Nope, you don't need any visa. Some people are just pure investors from abroad. - Josh & Kalie

@JurassicB8245 2 жыл бұрын

Banks (by law) will only loan you 90% of the value of a house, AND approve only if your monthly payments are under 50% of your monthly income.

@paulputin 2 жыл бұрын

Hi. Portugese Golden Visa is issued to foreigners, buying a property above 280K. Is mortage allowed for Golden Visa properties? If yes, what should be the downpayment? Can Rafael help with buying a suitable property?

@marcusviniciussilveira637 2 жыл бұрын

Rafael is an outstanding real state broker and has become a friend !

@rafaelfonsecaportugal 2 жыл бұрын

Thank you Marcus for your support and friendship. My best to you and your family!

@ExpatsEverywhere 2 жыл бұрын

Thanks for sharing your experience, Marcus! - Josh & Kalie

@jorgevaranda6587 2 жыл бұрын

Josh great video I got lots of information. I plan to move to Portugal from the US in 2 to 3 years how can I connect with Rafael ? keep up with the good work Muito Obrigado

@ExpatsEverywhere 2 жыл бұрын

Thank, Jorge. We're glad that you found it informative. We decide to try something different with this video and we're happy with the way it turned out. 😁 Shoot me an email at contact@expatseverywhere.com and I'd love to make the introduction for you. - Josh

@rodrigosobreira7810 2 жыл бұрын

The best way to take advantage of the negative real interest rates and apply for real estate credit. Makes no sense to try to do it all by yourself you can count on a professional. Much faster and, moneywise, more efficient Those who are not familiar with portuguese culture must keep in mind that the country is known for still having a high level of burocracy.

@rafaelfonsecaportugal. 2 жыл бұрын

Hi Rodrigo. Glad you like the video. Thank you so much for your comment and support. Kind regards

@ExpatsEverywhere 2 жыл бұрын

True story, Rodrigo! Thanks for the comment. - Josh & Kalie

@antoniodasilva1230 2 жыл бұрын

That's why Portugal dont have a bubble like what happen in the USA in 2016 😂

@beigemachine549 2 жыл бұрын

<a href="#" class="seekto" data-time="488">8:08</a> Did I hear that right? You can Rent your new property for a period before coming over?

@ExpatsEverywhere 2 жыл бұрын

It was a suggestion if you bought a property as an investment, but sure, you could probably buy something now with the intent to move in 6, 9, 12 months and rent it on the short to medium term market, why not? - Josh & Kalie

@Alfablue227 2 жыл бұрын

Banks in 🇵🇹 do not finance based on your credit score, but based on your salary, income to debt ratio, (DTI) and they will chk your debts against the registered by the Bank of Portugal 🇵🇹. All debts you incur are registered in the BOP via NIF Nr. If you do not pay on a Portuguese debt, it will be reported to the BOP, so don't think that irresponsabilities as such, or billing issues that go wrong and not resolved, go unoticed or looked into by the bank, it is, but by itself it does not mean you will not get a mortgage. However, the salary is the key, plus job situation, nr. of years employed, nr. of years at your position, if you are near retirement age, savings, and of course DTI %.

@angeliquemechel 2 жыл бұрын

Would love to have met you guys while you were here in Aveiro! I could have introduced you to our real estate agent who is Portuguese but speaks English, German and French as well. If you would ever like to chat with her to have an agent’s perspective- different from a broker- just let me know and I will arrange. Happy Holidays!

@ExpatsEverywhere 2 жыл бұрын

That's we appreciate it. The trip was pretty quick. We do hope to come back maybe early spring and spend a few days. Happy holidays. - Josh & Kalie

@rpandya2010 Жыл бұрын

how easy or difficult is it to refinance a loan? For example currently rates are high and if we do a fix rate mortgage now, and 5 years from now (hopefully) rates will be lower and i want to refinance it again on a fixed rate, is it possible?

@stevon7969 2 жыл бұрын

Does Rafael only cover northern Portugal not Lisbon area?

@ExpatsEverywhere 2 жыл бұрын

He can provide mortgage services Portugal wide. - Josh & Kalie

@raingseythong2158 2 жыл бұрын

Can I ask for an appointment with Rafael?

@ExpatsEverywhere 2 жыл бұрын

Yes, it's possible. Email me at contact@expatseverywhere.com - Josh

@adriansoegandi2440 2 жыл бұрын

Can you please give me the contact info of Rafael , mortgage broker. Thank you very much.

@ExpatsEverywhere 2 жыл бұрын

Thanks for emailing me! - Josh & Kalie

@stevengreen3436 2 жыл бұрын

My wife and I recently traveled to Portugal, we were told that we needed insurance if we were to buy a house because of our age 60+ what could we expect. We think that we could possibly put down up to 50%

@rafaelfonsecaportugal 2 жыл бұрын

Hi Steven. This is not entirely correct (about the life insurance). Send an email and we will try to help you.

@busy.with.it. 2 жыл бұрын

Hello! I am very interested in purchasing an apartment in Portugal. How do I contact Rafael?

@rafaelfonsecaportugal 2 жыл бұрын

Hello Blushing! Thanks for reaching out. Please send a short email to contact@expatseverywhere.com and I will get in touch with you ASAP. Kind regards. Rafael

@adamputh1090 2 жыл бұрын

Can we get mortgage on a land purchase

@ExpatsEverywhere 2 жыл бұрын

Fairly sure. Rafael would know better though. - Josh & Kalie

@landlord5552 2 жыл бұрын

Do you can suggest some trustworthy broker here in Madeira. Thanks!

@ExpatsEverywhere 2 жыл бұрын

Hi, we don't know anyone based in Madeira but you don't necessarily need a broker there as you can use a broker that lives anywhere in Portugal. Rafael could help you unless you're dead set on having someone local. Email contact@expatseverywhere.com if you'd like an introduction. - Josh & Kalie