Skip to content
Alicerce

Garantia pública (state guarantee) calculator for 100% mortgages

Check whether you meet the State’s criteria as guarantor, and see what financing without a down payment costs you extra in monthly payment and total interest.

On the date of the deed.

€
€
%

Reference value as of 24/07/2026.

%
yrs
€
%

The down payment you would manage to put together if you didn’t use the guarantee.

Do you meet the criteria?

  • Age between 18 and 35You are 29 (on the date of the deed).
  • Tax resident in PortugalTax resident.
  • Annual income up to €86,634 (ceiling of the 8th IRS bracket — personal income tax)You stated €45,000.
  • Property up to €450,000Price entered: €280,000.
  • First primary residenceThis is your first primary residence.
  • Not already owning a homeNo property in your own name.
  • No debts to the Tax Authority or Social SecurityTax and Social Security situation settled.

You meet the garantia pública (state guarantee) criteria (contracts signed by 31-12-2026).

Payment with 100% financing

€1,145.86

debt-to-income ratio 48%

100% vs. classic down payment

Down payment (with the guarantee)€0.00
Down payment in the classic scenario (10%)€28,000.00
Payment at 100%€1,145.86
Payment with a down payment€1,031.27
Total interest at 100%€228,760.88
Total interest with a down payment€205,884.79

The guarantee covers up to 15% of the price (max. €42,000) for 10 years. The bank still decides whether to approve the loan — the guarantee is not an automatic right.

How the guarantee works

The garantia pública, created by Decree-Law 44/2024, solves the most common obstacle for first-time home buyers: the down payment. The State becomes guarantor for up to 15% of the property’s price — enough for the bank to finance the other 85%, or the whole transaction — without you needing your own capital sitting idle while you save up. It isn’t money you receive: it’s a guarantee the bank accepts instead of your own money.

The conditions are specific: being between 18 and 35 years old, being a tax resident in Portugal, buying your first primary residence, not already owning a home in your name, and being up to date with the Tax Authority and Social Security. The property can’t cost more than €450,000, and the household’s annual income has to stay under €86,634 — the ceiling of the 8th IRS bracket (personal income tax) in 2026. The bank financing has to cover at least 85% of the transaction value, and every buyer has to appear as a borrower on the loan — it isn’t enough for just one of them to meet the criteria. The measure applies to contracts signed by 31 December 2026.

What the guarantee doesn’t change is the arithmetic of the loan: financing 100% instead of, say, 90% means borrowing more money, over the same term and at the same rate — so a higher monthly payment and more interest paid over the life of the loan. On a €280,000 property with the 6-month Euribor at 2.723% + a 0.9% spread, over 37 years: at 100% financing you pay €1,145.86 a month; with a 10% down payment you pay €1,031.27 — and over the life of the loan, total interest rises by about €22,900 in the 100% scenario. The guarantee solves the down-payment problem, not the cost of the loan — and the bank still decides whether to approve you and at what rate.

Before deciding between financing 100% or putting together a partial down payment, it’s worth understanding how the Euribor and the spread weigh on your monthly payment — use the mortgage payment calculator to test different terms and rates.

Frequently asked questions

How much does the garantia pública actually cover?
The guarantee covers up to 15% of the purchase price, so you don’t need a down payment. On a €450,000 home (the ceiling for the eligible value), that’s a maximum of €67,500 backed by the State — the rest of the financing (85% or more) is still a normal mortgage, negotiated with the bank.
Until when can I use the guarantee?
The measure covers home-loan agreements formalised by 31 December 2026. A possible extension beyond that date has not been confirmed yet — if you are partway through the process close to the deadline, check with your bank before you sign the CPCV (promissory contract).
Have all banks signed up to the garantia pública?
Not automatically — each bank joins through a protocol with the State, and the list of participating institutions has been growing since 2024. Always check with your bank (or with several banks at once) whether they apply the guarantee to your case before you decide where to apply for the loan.
What if I earn more than the income ceiling?
The limit is the household’s annual income up to the ceiling of the 8th personal income tax (IRS) bracket — €86,634 in 2026. Above that you fall outside the garantia pública, but you can still apply for a normal home loan, with a down payment.
Is the guarantee free?
It has no direct cost to you: you don’t pay a premium or a fee to the State to use it. What happens is that the State acts as guarantor for up to 15% of the value for 10 years — if you stop paying the loan, that is the slice the Treasury covers with the bank, not a benefit that comes out of your pocket.

Keep going