Buying a home without a mortgage is becoming increasingly difficult: comparing before signing will be key

Buying a home without needing bank financing is increasingly uncommon in Spain.

Recent data shows a reality that directly affects those considering buying a house: only 25.8% of homes bought between January and May 2026 were paid for without a mortgage..

Just a year ago, that percentage was 32.5%.

In other words, barely more than one in four homes is currently purchased without financing.

For a large number of buyers, therefore, obtaining a mortgage is no longer just an alternative to finance part of the home.

It is what makes the purchase possible.

And if you are going to make one of the most important financial decisions of your life over 20, 25 or 30 years, there is another question that should be just as important:

not accepting the first mortgage offered to you.

More and more buyers need a mortgage.

Between January and May 2026, 288,176 homes were sold in Spain..

During that same period, there were formalised 213,777 mortgages for home purchases were formalised,representing an increase of 6.2% compared to the previous year.

This leaves only 74,399 homes acquired without a mortgage.

To find a similar percentage of purchases without financing, we need to go back to 2021.

Behind these numbers are various factors.

Housing prices, inflation and rising living costs can hinder families’ ability to save enough to buy without financing.

This means many people wanting to access housing inevitably have to resort to a mortgage.

Needing a mortgage does not mean accepting any mortgage.

When we find a home we want to buy, it is easy to focus all our attention on getting the bank to approve the deal.

The question is often:

“Will they grant me the mortgage?”

But obtaining financing should only be part of the process.

There is another question just as important:

“Am I getting a good mortgage for my situation?”

Because two lenders can assess the exact same deal and offer different conditions.

The interest rate, financing percentage, tie-ins, insurance, fees, term or early repayment conditions might differ.

So, getting one lender to approve your deal does not necessarily mean you should immediately accept their proposal.

Your usual bank may not offer you the best option.

It is perfectly normal to start by asking your long-standing bank.

They know you, you have your salary paid there, and you probably have a long relationship with the institution.

But a mortgage is too important a transaction to limit the decision to a single offer.

The bank analyses the deal according to its own commercial and risk criteria.

You should analyse it from another point of view:

your interests.

Before signing, it is advisable to know what alternatives exist and compare the full conditions of different offers.

Because an apparently small difference can become a lot of money when your financing spans several decades.

A few tenths of a percent can accompany you for 30 years.

When comparing two mortgages, we might err in thinking that a difference of a few tenths in the interest rate is not very relevant.

But we must remember this:

we are not contracting financing for a few months.

A mortgage can last 20, 25 or 30 years.

Therefore, differences in the interest rate can end up adding substantial amounts over the entire life of the loan.

And the interest rate should not be analysed in isolation either.

Before choosing a mortgage, it is worth reviewing:

• The nominal interest rate (TIN).
• The APR (TAE).
• The monthly payment.
• The term.
• The total cost of interest.
• The tie-ins.
• The insurance requirements.
• The fees.
• The early repayment conditions.
• The percentage of financing.

The best mortgage is not necessarily the one advertising the lowest interest rate.

It must be the one that best fits your financial situation and plans.

Before looking for a mortgage, know your numbers.

One of the best decisions you can make before negotiating with different lenders is to understand your own situation.

How much can you afford to buy?

How much do you need to finance?

What monthly payment could you manage?

How much money do you need to have saved?

Is the transaction you are considering feasible?

At Hipotea, we offer a range of free mortgage calculators that you can use to get an initial guide before making decisions.

Is the property you want to buy viable?

You can start by using our Mortgage Affordability Calculator.

This tool analyses various data related to your income, expenses, savings and transaction characteristics to provide you with an initial guide.

You will also be able to estimate the maximum property price you can consider, the costs associated with the transaction, and an estimate of your future monthly payment..

This allows you to approach your property search much better informed.

Calculate how much your mortgage payments would be

A property may fit within the amount a lender is willing to finance, yet the monthly payment might not be comfortable for your budget.

That’s why running simulations is important.

With our Mortgage Calculator you can enter different amounts, terms and interest rates to estimate what your monthly payment would be.

You can also use our Advanced Mortgage Payment Simulator if you want to carry out a more comprehensive simulation of your future financing.

Doing these calculations before signing lets you make decisions based on numbers, not just on the property you'd like to buy.

Compare different mortgages before deciding

Suppose you have already received an offer from a lender.

Before accepting it, you can use our Mortgage Comparison Simulator.

This tool lets you compare different scenarios and see how conditions might affect important aspects such as the monthly payment or total interest.

This is especially important because an offer may seem more attractive initially, but not be so when analyzing the total cost.

Comparing is not just about finding who offers a slightly lower rate.

It means understanding what you are committing to.

Calculators are the first step, but each case is different

Online tools can help you better understand your numbers and run simulations before deciding.

But a mortgage doesn't depend solely on a mathematical formula.

Two people wanting to buy properties at the same price may receive completely different proposals.

Lenders assess factors such as income, job stability, existing debt, available savings, percentage financed, property features, and many others.

That’s why, after doing your own calculations, it can be particularly useful to have professionals analyse your case.

You don’t have to face the mortgage search alone.

For many, buying a home is probably the most significant financial transaction they will undertake in their life.

Yet it is common to approach it with very little experience.

On the other side are lenders working daily with financial products, terms, risks and mortgage negotiation.

Having professional support allows you to face the process from a different position.

At Hipotea we analyse each situation to find the mortgage options that best fit each person's profile and needs..

The goal isn’t simply to get a mortgage.

It’s to help you understand your possibilities, compare alternatives and make an informed decision.

Request a free mortgage study

If you are thinking of buying a property, you can request a free case study with Hipotea..

The study goes beyond what a calculator can offer.

We can analyse your situation and examine aspects such as:

• The feasibility of the transaction.
• The financing you might need.
• The characteristics of your profile.
• The different mortgage alternatives that may fit your situation.
• The conditions worth comparing.
• The options available to structure your financing.

This way you don’t just get an answer to the question:

“Can I get a mortgage?”

You begin to answer a much more important one:

“Which mortgage suits me best?”

If you need a mortgage, choosing the right one should also be a necessity.

Data shows that buying a home without financing is becoming increasingly rare.

And everything indicates that the mortgage will remain a key part for many families wanting access to a home.

Precisely for this reason, the way we seek financing should also evolve.

We shouldn’t settle for asking one lender, receiving an offer and signing.

We can do the maths.

We can compare.

We can learn about our purchasing power.

We can study different scenarios.

And we can have professionals accompany us throughout the process and help us find financing adapted to our situation.

At Hipotea you can start by using our tools for free:

• Mortgage Affordability Calculator to learn about what your transaction could involve.
• Mortgage Calculator to estimate your future monthly payment.
• Advanced Mortgage Payment Simulator to carry out a more complete simulation.
• Mortgage Comparison Simulator to compare different offers and scenarios.

And if you want to take the next step, you can request a free study so that we can analyse your case and seek the mortgage options that best fit you.

Because if a mortgage will be necessary for buying your home, choosing it well should be too..