Getting a Dutch mortgage

Getting a Dutch mortgage
When you apply for a mortgage (hypotheek) in the Netherlands, you’re bound to the same conditions as Dutch natives. You have to work and live here and the lender will need information about your income and debts, the property value, your employment agreement, your marital status and more.

Are there any special requirements for expats?
As an expat, you might have to satisfy a few extra requirements to obtain a mortgage in the Netherlands. Like anyone else you need to have a citizen service number (BSN). You'll receive one when registering at the municipality, e.g. here in Amsterdam. When you're not a EU/EEA (European Economic Area) citizen, a residence permit (verblijfsvergunning) is mandatory. Your employer can usually help you obtain these items.

Some banks or lenders may have extra requirements for expatriate borrowers. For instance, they may require that you’ve lived in the Netherlands for at least six months. They could also require that you have an income in euros or an EU nationality. There may be additional requirements if you’re new to the country or employer.

You can calculate your maximum mortgage here

What if I’m self-employed or don’t have a permanent employment contract?
Getting a mortgage can be difficult for self-employed expats or expats who don't have a permanent employment contract – but it’s not impossible.

If you’re self-employed, you’ll need to show at least two or three years of income history. The longer you’ve been self-employed, the higher your chance of getting a mortgage will be.

If you don’t have a permanent employment contract, you’ll need a letter from your employer stating that your contract will be renewed if the situation stays the same.

What if I’m living or working abroad?
Taking out a mortgage from a Dutch mortgage provider requires that you live and work in The Netherlands. Off course you can be seconded abroad every now and then, but your main base and employer has to be Dutch

Can I buy a house to let?
Unfortunately that is not possible with a 'normal' mortgage. With these mortgages it's not allowed to rent out your home. They are strictly meant for self-occupancy. Only in special circumstances like a long lasting vacancy or a transitional period you can rent it out for a limited period of time and with consent of the mortgage provider. There are, however, special buy-to-let mortgages. But the interest rate is always fairly higher and you have invest some money of your own, up to 30-50%.

Are there any special expat mortgages?
If you mean a mortgage with special or favourable conditions for expats, the anwser is no. A special expat mortgage doesn't exist. You get the same Dutch mortgage, just like your fellow (Dutch) countryman.

How much can I finance and what costs will I pay upfront?
In the Netherlands, you can finance up to 100% of the market value of your house. So if the value is €200,000, you can get a mortgage for as much as €200,000. It's just as simple as that.

However, keep in mind that you will have to bring some of your own money to the table as there are several costs involved in buying a property that can’t be financed (although we can sometimes help with this). These are some of the costs you should expect to pay out of pocket:

  • A transfer tax that costs 2% of the sale price of the home
  • The fee for the appraisal/valuation report, which is required if you’re getting a mortgage
  • Arrangement fee for the mortgage
  • The fee for the notary
  • The 10% deposit or bank guarantee

As a rule of thumb, the costs of buying a house will be roughly 4% to 6% of the home price. You can read more about these costs here.

How can MortgageMonster help me get a mortgage?
As you can see, there are quite a few requirements for obtaining a mortgage in the Netherlands. But our monsters are here to help you find the best possible mortgage for your situation.

We know our way in the labyrinth of lenders, with all their peculiar habits and exotic demands. And we’re not afraid to show them our teeth if needed. The only thing that matters to us is helping you buy a home. Contact us when you’re ready to get started.

More housing/mortgage info:
Should I rent or buy a house?
How to buy a house in the Netherlands
Calculate your maximum mortgage
What are the costs of buying a house?