What are the main steps until I get the keys?
A home loan in Portugal has six steps: calculation, documents, offers from the banks, valuation of the home, approval and the deed. The bank gives you a sheet with the terms, the ESIS, at the calculation and at approval. The bank's offer is valid for at least 30 days. You cannot sign the contract in the first 7 days.
In this guide
The six steps, in order
- Calculation. We see how much the bank can lend against your income. For this first step, you can see how much you can borrow here on the site.
- Documents. We gather the documents and prepare the application for the banks.
- Offers from the banks. We take your case to several banks. We compare the offers with you and choose.
- Valuation of the home. A surveyor values the home at the bank's request.
- Approval. The bank confirms the approval and gives you the offer with the final terms.
- Deed. You sign the contract and get the keys.
What the ESIS is
It is the European Standardised Information Sheet. In Portugal it is called the FINE. It sets out the main features of the loan.
The bank must give you the ESIS at two moments. First, when it runs the calculation. Then, when it tells you the loan is approved. Guarantors also receive a copy of the approved ESIS and of the draft contract.
Source: Banco de Portugal — New rules on mortgage credit (in Portuguese).
The two deadlines the law gives you
The bank's offer is valid for at least 30 days. During that time, the bank cannot change the terms.
You cannot sign the contract in the first 7 days after you receive the offer. The rule is there to give you time to think. It applies to guarantors too.
At approval, compare the new ESIS with the one from the calculation. Check whether the interest rate, the APR and the MTIC have changed.
Who explains the contract before you sign?
The bank must explain the ESIS and the draft contract to you. It must tell you what happens if you miss payments. And it must answer your questions.
A credit intermediary has the same duty. Use the 7 days to read the draft calmly and ask about anything you do not understand.
How long it takes
In our experience, the process takes 30 to 60 days. Gathering the documents takes about 1 week. The offers from the banks, 1 to 2 weeks. The valuation of the home, another 1 to 2 weeks.
These are rough timings. They change with the bank and with your case. The steps that take longest are usually the banks' answers and the valuation of the home.
How to avoid delays
Have your documents ready from the start. See the list in the guide Which documents do I need to prepare to get started? Answer quickly when the bank asks for more information. Every unanswered request stops the process.
Before you start
It helps to know two things: how much you can pay each month and how much deposit you have. See our guides What is the effort rate, and what should mine be? and Do I always need a 10% down payment?
Our role
We follow every step and talk to the banks for you. We always tell you where the process stands. Our fee is paid by the bank.
Sources
- Banco de Portugal — New rules on mortgage credit (in Portuguese)
- Banco de Portugal — How to enter into home loan agreements
Sources checked on 22 September 2026.
Susana Vasconcelos
- Intermediária de crédito autorizada pelo Banco de Portugal n.º 0008496
- Mais de 10 anos na banca