Your first home in 2026? Start with your mortgage plan
You have saved property listings. You have imagined the living room, moving day and your first dinner with friends. But between browsing and making a move, one question remains: what home can you realistically afford?
If you are planning to buy your first home in Portugal, there is a date to include in your plan. Under the current rules, mortgage agreements covered by the public guarantee for young buyers must be signed by 31 December 2026, as stated by Banco de Portugal.
Preparing to buy involves several decisions. Starting with a mortgage review can help you search with a clearer budget and understand whether support measures apply to your situation.
Request a free review for my first home
At DSIC Seixal Torre da Marinha, you can begin by telling us where you are in the process, even if you have not chosen a property yet.
Aged 35 or under? Put this date in your calendar
The public guarantee can help eligible young buyers finance their first permanent home. The current deadline applies to signing the mortgage agreement. Requesting an illustration or starting an application in December does not secure access to the scheme.
Between your first enquiry and signing, there are documents to gather, offers to compare, a property valuation and the lender's decision. Timelines depend on each application. Any extension would need official confirmation; it should not be the basis of your plan.
One distinction matters: this deadline does not mean that all homebuying support ends in 2026. IMT Jovem is a separate tax relief scheme with its own requirements. The rules consulted do not give it that same end date. The Portuguese Tax Authority explains the IMT and property purchase stamp duty exemptions.
The useful first step is to understand which measures could apply to your purchase.
“I have not saved the deposit yet. Is it worth contacting you?”
It is worth understanding your starting point. The public guarantee may enable borrowing of up to 100% of the value recognised under the scheme, subject to eligibility and the lender's assessment. That value is the lower of the purchase price and the bank valuation.
This does not remove the need for savings. There may be a valuation shortfall, arrangement costs, insurance, taxes not covered by exemptions and moving expenses. Keeping an emergency reserve after the purchase also matters.
Imagine a property priced at €220,000, with a bank valuation of €210,000. Even if the lender finances 100% of the recognised value, there is a €10,000 gap, plus other applicable costs. This is an illustration, not a mortgage offer.
Reviewing your situation therefore means looking beyond the deposit. It means understanding the money available, the expenses you need to cover and the reserve you want to keep.
“What if I have not found a property?”
You can start with an initial review. Understanding a suitable price range helps you filter listings, organise viewings and ask sellers more specific questions.
This preparation can also prevent the price of a home you love from becoming your entire budget. Mortgage payments need to fit alongside transport, food, healthcare, leisure and other plans that continue after you receive the keys.
An initial review is not final approval. Terms depend on your documents, financial circumstances, the property and the lender's decision. It can nevertheless help you approach your search with clearer criteria.
If you already have a property in mind, tell us the price and how negotiations are progressing. If you are still exploring, say so. The starting point may differ, but understanding the numbers remains essential.
Three questions to turn an intention into a plan
1. What monthly payment leaves room to live?
Start with your net income and usual expenses. Include existing loans, regular commitments and a reserve for less predictable costs. Consider what might change: a car, children, self-employment or a temporary drop in income.
A payment you can manage in a particularly good month may not be comfortable for years to come. Make that distinction part of your mortgage review.
2. How much money do you need at the outset?
Separate the money intended for the purchase from the reserve you want to retain. Then check transaction costs and any tax relief that may apply. The aim is to approach signing with a realistic estimate of the amount you need.
3. What should you compare across offers?
Monthly payments deserve attention, but they tell only part of the story. Consider the annual percentage rate of charge (TAEG), the total amount payable (MTIC), the term, insurance, linked products and the conditions after any initial fixed-rate period.
DSIC can help explain these differences in offers from the institutions it works with and relate them to your budget.
