How do I buy a home?

If you have already found your ideal home and you want to buy it, follow these steps to apply for a mortgage at BBVA:

1. Calculate your mortgage to find out how much it would cost a month and how much you should have saved.
2. If the numbers add up, send us the application. We will contact you to request the necessary documents.
3. If necessary, you will have to appraise the home to calculate its real value and the final amount of the mortgage.
4. If your mortgage is approved, we will take care of the necessary paperwork.
5. With everything ready, you just need to sign before a notary.

You have three tools that will make the process easier:

• BBVA Valora, to find out the approximate value of the house you would like to buy.
• Mortgage calculator, to find out how much you need to have saved and how much you would pay per month for that house you like. 
• Mortgage switching calculator, to find out how much you could improve your mortgage by bringing it to BBVA.

Yes. For example, if you work for the Public Administration, belong to a mutual society or have a registered profession, you can get better terms for your mortgage. Learn more!

Calculate personalized price

Of course! To do this, fill in the form at the following link, and someone from the BBVA team will contact you. 

Go to form

The taxes you have to pay when buying a property are:

• If the property is newly built, the VAT is paid (usually 10%), except in the Canary Islands, where IGIC is paid (usually 6.5%). You also have to pay the IAJD (or stamp duty), which depends on each autonomous community.
• If the property is pre-existing, the ITP (Property Transfer Tax) is paid, at a cost (a percentage) established by the autonomous communities.

On the one hand, both VAT and IGIC are paid directly to the seller, together with the money that is given to them when buying their home. They are responsible for paying it to the Tax Authorities. On the other hand, ITP and IAJD are paid to the Tax Administration of the autonomous community in which the property is purchased.

The notary expenses paid when buying a home, based on the Civil Code (and unless the buyer and the seller have agreed otherwise), are divided as follows:

• The expenses arising from the deed are paid by the seller.
• The expenses of the first copy, and those subsequent to the sale, must be paid by the buyer.

The steps to be taken when buying a new home in Spain are not the same as when buying a used (or second-hand) home. Although there are similarities between the two cases, like setting a budget, searching for a home within that budget, and selecting a mortgage type to finance it, there are also important differences. These include the required documentation and the various expenses and taxes that need to be paid.

So, you are recommended to take into account, in each case, the procedure to be followed.