A practical guide to aid for buying your first home in Spain: the state ICO guarantee of up to 20% of the mortgage (25% for an energy-efficient home), until 31 December 2027, and Madrid's Mi Primera Vivienda, up to 100% by age. General information, not legal or financial advice.
This guide is general information, not legal or financial advice. The two schemes in this guide are different: the ICO guarantee is a state guarantee on part of the mortgage, not cash; Mi Primera Vivienda is a programme of the Community of Madrid. Confirm every figure with your bank and the official page before you sign anything.
Can the government guarantee my mortgage in Spain?
Yes: the ICO guarantee is a state guarantee of up to 20% of the mortgage (25% if the home is energy-efficient), for buyers up to 35 years old or families with minor children. It is not cash — it is a guarantee on part of the loan.
The guarantee is given by the Instituto de Crédito Oficial (ICO) and covers part of the mortgage loan, not the price of the home. Loan agreements must be signed by 31 December 2027. You apply at the bank, not at the ICO.
Is the ICO guarantee cash or just a guarantee?
Only a guarantee: the ICO hands you no money. The state guarantees the bank up to 20% of the loan (25% if the home is efficient), and that lets the bank lend more of the price; the rest, and the taxes, are paid by you.
Do not confuse the guarantee with a cash grant: no money lands in your account. What changes is the guarantee backing the loan, and with it, the share of the price the bank can finance. Purchase taxes and costs are not paid by the guarantee.
What percentage of my mortgage does the ICO guarantee cover — 20% or 25%?
20% in general, and 25% if the home is energy-efficient. The percentage applies to the mortgage loan, not to the price of the home.
The 25% guarantee is for energy-efficient homes; otherwise it is 20%. Ask your bank which energy certificate or rating is needed for the 25%, and get the offer in writing before you sign.
Up to what age can I apply for the ICO guarantee to buy my first home?
Up to 35 years old. Families with minor children can apply with no age limit. Age is one condition: there are also income and home-price limits.
The guarantee is designed for young people buying their first home and for families with minor children. If you are over 35 and have no minor children, this guarantee is not for you — ask your bank about other options.
Can families with minor children apply for the ICO guarantee with no age limit?
Yes: families with minor children can apply for the ICO guarantee with no age limit. They must also meet the income and home-price limits for their province and region.
The age limit does not apply to families with minor children, but the other conditions do: maximum income, maximum home price, and that it is a first home. Check each condition with your bank and on the ICO page.
Until when can I sign a mortgage with the ICO guarantee?
Loan agreements with the ICO guarantee must be signed by 31 December 2027 (BOE-A-2026-14404). After that date, the guarantee can no longer be signed on the current terms.
The deadline is for signing the loan agreement, not for starting to look for a home: if you want the guarantee, plan the purchase so you sign before 31 December 2027. Confirm the date with your bank, because banks need time to assess the mortgage.
What is the income limit for the ICO guarantee in my province?
The general maximum is 7.5 times the IPREM, with increases for additional buyers, dependent children and qualifying single-parent families. The caps vary by province across four bands (4.5 / 5.5 / 6.5 / 7.5 times the IPREM) — look up your province on the ICO page.
There is no single national limit: each province has its band. This guide does not publish the full province table — look up your province on the ICO page and ask your bank to confirm the limit that applies to you before you sign.
What is the maximum home price with the ICO guarantee in my region?
There is no single national figure: regional ceilings run from €200,000 in Extremadura to €325,000 in Madrid. If the home costs more than your region's ceiling, it cannot carry the ICO guarantee.
The ceilings are set by each autonomous community. This guide gives the two ends — €200,000 in Extremadura and €325,000 in Madrid — and does not publish the full table: check your region's ceiling on the ICO page and ask your bank to confirm it before you sign.
What is Mi Primera Vivienda in Madrid and how does it work?
It is the Community of Madrid's programme for a first home: it finances up to 100% of the price by age (100% under 40, 95% from 40 to 45, 90% from 45 to 50), with a maximum price of €425,000. The expanded version has been in force since 7 August 2026.
The programme is applied for through a bank with an agreement, not directly from the Community: the bank assesses the mortgage and applies the programme's terms. Check the current bank agreement, because terms can change with the bank.
Up to what percentage does Mi Primera Vivienda in Madrid finance, by age?
100% if you are under 40, 95% from 40 to 45, and 90% from 45 to 50. The percentage is on the price of the home, with a maximum of €425,000.
The financing depends on your age when you apply. Ask the bank to confirm in writing the percentage that applies to you and the maximum mortgage amount, and check the current bank agreement.
What is the maximum home price under Mi Primera Vivienda Madrid?
€425,000. If the home costs more, it does not qualify for the programme, even if you meet the age and other requirements.
The €425,000 cap is from the expanded version of the programme, in force since 7 August 2026 (BOCM). Confirm the current cap with the bank and on the programme page before you sign.
Since when has the expanded Mi Primera Vivienda programme in Madrid been in force?
Since 7 August 2026, under the Boletín Oficial de la Comunidad de Madrid (BOCM). Check the current bank agreement: the bank applies the programme's terms.
The expanded version (100% / 95% / 90% by age, up to €425,000) has been in force since 7 August 2026. If a bank offers you different terms, ask it to show you the current agreement.
Where do you apply for the ICO guarantee — at the ICO or at the bank?
At the bank. The ICO is the guarantor, not the lender: you apply for the mortgage at a bank, and the bank applies the ICO guarantee if you meet the requirements.
Nothing is applied for directly at the ICO. Take your income and home documents to the bank, and ask it to confirm in writing whether the guarantee applies to your mortgage and at what percentage.
What is the ICO guarantee for young people and how does it work?
It is the state guarantee that lets young people buy their first home: the ICO guarantees up to 20% of the mortgage (25% if the home is efficient), for buyers up to 35 or families with minor children, with agreements signed by 31 December 2027. You apply at the bank.
It works like this: you apply for the mortgage at the bank, the bank checks your age, income and the home price, and the guarantee covers part of the loan. It is not cash, and it does not guarantee the bank will approve the mortgage.
How much do I need to save with the ICO guarantee?
It depends on the bank: the guarantee covers up to 20% of the loan (25% if the home is efficient), so the bank can lend more of the price, but the exact deposit is set by the bank. Get an offer in writing before you sign.
The guarantee lowers the deposit the bank requires; it does not remove it: purchase taxes and costs (notary, registry, lawyer) are separate and are not covered by the guarantee. Work out the deposit and the costs with the bank before you reserve a home.
Does the ICO guarantee work for a second home?
This guide describes it for a first home: the ICO guarantee is for buying your first home. If you want to use it for a second home, check on the ICO page and with your bank whether it qualifies.
Do not assume the guarantee applies to any home: the conditions are for a first home, with age, income and price limits. Ask the bank in writing before you sign anything.
Does the ICO guarantee ensure my mortgage is approved?
No. The guarantee covers part of the loan for the bank, but the bank assesses your income and decides whether to approve the mortgage. The guarantee is neither an approval nor cash.
Ask the bank for the offer in writing (FEIN) and check its terms before you sign. If the bank does not approve the mortgage, the guarantee does not change that decision.
How do I apply for the ICO guarantee step by step if I am 35 or under?
Check age, income and price → apply for the mortgage at the bank → sign the agreement before 31 December 2027. The bank applies the guarantee if you meet the requirements.
First, check that you meet the age rule (up to 35, or a family with minor children), your province's income limit and your region's price ceiling. Then apply for the mortgage at the bank with your income and home documents. The bank assesses the mortgage and, if approved, signs the agreement with the guarantee before 31 December 2027.
Can I use personal loans to cover the required 20% deposit?
This guide does not confirm that: the guarantee covers part of the mortgage, not a loan for the deposit. If the bank requires a deposit, ask the bank in writing whether it accepts a personal loan to cover it.
A personal loan is a separate debt, with its own repayments, and the bank takes it into account when assessing the mortgage. Do not sign a personal loan counting on the guarantee until the bank confirms in writing how your repayment capacity is calculated.
Can you secure a Spanish mortgage on a single income?
This guide sets no rule: whether one income is enough is the bank's decision, based on your income, the price and your debts. Ask the bank to assess your case and give you an offer in writing.
The ICO guarantee does not change how the bank assesses your income: the bank checks that you can pay the instalments on your salary. Take your payslips, your contract and your debts to the bank so the assessment is real.
What requirements must be met by applicants for Madrid's My First Home programme?
Those confirmed in this guide: age (100% / 95% / 90% financing), a €425,000 price cap, and the programme in force since 7 August 2026. Any other requirements are not in this guide — check them on the programme page and in the bank agreement.
Do not assume other requirements (residence, first home, documents) without checking them: this guide does not publish them. Ask the bank for the full list of requirements in the current agreement before you sign.
What do I check before signing a mortgage with aid?
Aid, limits, bank and deadline: the four points below, in writing, before you sign anything.
- ✓ICO guarantee: confirm the age rule, your province's income limit and your region's price ceiling on the ICO page.
- ✓Percentage: confirm whether your home reaches 25% (efficient) or 20%, and get the offer in writing (FEIN).
- ✓Madrid: if you buy in Madrid, confirm the percentage by age, the €425,000 cap and the current bank agreement.
- ✓Deadline: sign the agreement with the ICO guarantee before 31 December 2027.
