Tool · estimate

Mortgage affordability calculator (Portugal)

Estimates the largest loan the Banco de Portugal macroprudential limits allow for your inputs. This is an estimate, not financial advice and not a loan offer. Banks apply their own, often stricter, criteria, especially for non-residents and income in other currencies.

Estimate · limited by income (DSTI)

Estimated maximum loan: €259,171
Deposit needed (price − loan): €40,829
Monthly payment at 3.922% over 40 years: €1,071
Stress-test payment at 5.422%: €1,323
Max loan by LTV (90% of €300,000): €270,000
Max loan by DSTI (45% of €2,940 − other debts): €259,171
Stamp duty on the loan (0.6%): €1,555

Income reduced for the years the oldest borrower is over 70 (art. 4.º n.º 5 b)).
Banks may exceed the 45% DSTI for up to 10% of their lending per half-year (art. 6.º n.º 2); this tool does not assume you get one.

Not included: IMT and purchase stamp duty (see the IMT calculator), bank fees, insurance and valuation costs.

Assumptions

Rules in force: Banco de Portugal, Recomendação Macroprudencial n.º 1/2026 (novos contratos de crédito a consumidores), applying to loans assessed from 2026-08-01. It replaced the Recomendação Macroprudencial de 2018 (applied until 2026-07-31), which had a 50% DSTI cap.
LTV (art. 5.º): at most 90% for buying, building or renovating your own permanent home; 80% for other purposes. Measured against the lower of price and valuation.
DSTI (arts. 4.º and 6.º): all loan repayments, with the new loan at the stressed rate, at most 45% of net monthly income (annual income ÷ 12). Banks may exceed it for up to 10% of their lending per half-year.
Stress test (2023-10-16): index +0.5 pp for terms up to 5 years, +1 pp for 5 to 10 years, +1.5 pp over 10 years; none for a fully fixed rate. For mixed rates, the higher of the fixed-period payment and the shocked variable payment.
Maximum term (art. 7.º): 40 years if the oldest borrower is 35 or younger, 35 years if older.
Over 70 (art. 4.º n.º 5 b)): income is cut by at least 20%, weighted by the share of the term after age 70, unless already retired.
Interest rate: default index is the Euribor 6M, monthly average, September 2026, 2.922% (ECB Data Portal, series FM.M.U2.EUR.RT.MM.EURIBOR6MD_.HSTA (Euribor 6-month, average of observations through period, 2026-09; data provided to the ECB by Refinitiv), retrieved 2026-10-11). Euribor® is administered by EMMI; your bank uses the index average its contract specifies, so check the current value. Illustrative spread. Banks set their own; compare the FINE and TAEG each bank gives you. Illustrative fixed rate. Ask banks for current fixed-rate offers.
Payment: constant monthly instalments (French amortisation), no grace period.

Official sources

ECB Data Portal, series FM.M.U2.EUR.RT.MM.EURIBOR6MD_.HSTA (Euribor 6-month, average of observations through period, 2026-09; data provided to the ECB by Refinitiv) (checked 2026-10-11)
Banco de Portugal, Recomendação Macroprudencial n.º 1/2026 (novos contratos de crédito a consumidores), applies from 2026-08-01 (checked 2026-10-11)
Banco de Portugal, Instrução n.º 23/2023 (interest-rate shock for variable and mixed-rate loans), in force since 2023-10-16 (checked 2026-10-11)
Banco de Portugal press release: revision of the macroprudential Recommendation (checked 2026-10-11)
Tabela Geral do Imposto do Selo, verba 17.1.3 (0.6% on credit of 5 years or more) (checked 2026-10-11)