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Banks usually require a regular income, a good credit history and a property to serve as collateral. In some cases, additional requirements may be imposed, such as a minimum work experience, a certain income level or guarantors. The conditions vary from bank to bank, so it is important to inform yourself in advance.

Typically, the down payment is between 15% and 20% of the property value. The amount can vary depending on the type of home, its location, and your income. A higher down payment usually leads to better mortgage terms, including a lower interest rate.

The best option is found by comparing mortgage offers. Our calculator helps you simulate different scenarios and see the real payment.

A mortgage loan in Bulgaria usually requires a down payment of between 15% and 20% of the market valuation or sale price of the property. Although some banks will finance up to 85-90% under specific conditions, the standard practice remains around 20% down payment. A higher down payment usually results in better interest terms and a lower total cost of the loan.

The costs of buying a property with a mortgage loan include the down payment (usually 15-20% of the price, which is part of the purchase price), as well as the mandatory transaction fees - local tax (2-3%), notary fees and registration fee (0.1%). Additionally, there are bank costs - property valuation, loan fees, mortgage registration, compulsory insurance and lawyer's fees.

For the purchase of a home, a mortgage loan is most often used, which allows financing up to about 80-85% of the value of the property. The specific loan is chosen according to income, age, the amount of the deductible and the general financing conditions. It is important to evaluate all the elements - term, monthly payment, fees, insurance and options for flexibility over time.