Applying for a mortgage loan may seem overwhelming to many of us. Financial institutions don’t grant such loans to anyone, and the number of required documents can be discouraging. But any financial institution needs to make sure that the person asking for the loan will be able to sustain the monthly mortgage payments. After all, such loans extend on a considerable period (at least 20 years), and all parties have to be aware of the long-term commitment.

Thus, the customer (the person looking for the loan) needs to present their current (and future) economic situation. That is why all financial institutions require certain documents when it comes to mortgage loans. Which exactly are those documents? There’s the general documentation, which is requested for everyone. And, depending on whether you are a self-employed person, an employee or a company, there are specific documents to be asked for each situation.

Here’s a list which will help you have your file well prepared when going to your bank for a meeting – and it starts with the general documentation:

• NIF – the Tax Identification Number (for locals) or NIE – the Foreigner Identification Number (for foreigners) or the passport
  A signal or deposit contract, if signed (it is a private contract through which the parties agree to an amount of money given in advance for buying a property)
• The income tax return for the previous year
• The deeds regarding any real estate that you own (no matter where)
• The lease contract and the last rent-payment proof (if you live on rent)
• The most recent bank statements on your name

If you are an employee:

• Your employment contract, if you work for a company which is not yours
• At least the latest three payrolls on your name
• The justification for any amount of money that you have earned besides what it is written on your salary document
• The proof for any other contracted loans that you have on your name (the receipts)

If you are self-employed or freelance:

• Your annual VAT declaration
• The quarterly VAT payments for the current year
• Your annual tax return (along with the fraction)
• The most recent receipts of your Social Security payment
• Corporation tax for the previous year (if there are any submitted)
• The tax return for the current year (VAT and company tax)

If you are a company:

• The corporation tax for the previous year, if already submitted
• The tax returns for the current year (VAT and company tax)
• The updated balance of the economic situation of the company

In addition to all those documents we have just presented, there’s the possibility that each financial institution may wish to require additional guarantee papers. In the end, your entire application will depend on your profile as a mortgage loan applicant and the risk criteria of the financial institution. Our close relationship with the best institutions for non-resident clients can offer you peace of mind and the best deal.