At Mortgage Spotters, we understand that international careers don't always pay in Euros. While many Dutch banks are hesitant to provide mortgages based on foreign income due to exchange rate fluctuations, we have the expertise to help you secure your home in the Netherlands.
Getting a Dutch Mortgage with Foreign Currency Income
Do you earn your salary in US Dollars (USD), British Pounds (GBP), Swiss Francs (CHF), or another non-Euro currency?
Understanding the Currency Risk & The 90% Rule
When your income is in a foreign currency but your mortgage is in Euros, there is a "currency risk." If the value of your currency drops against the Euro, your monthly mortgage payments could become more expensive.
To protect you and ensure financial stability, we apply a safety margin:
• The Calculation: We convert your foreign income into Euros and use 90% of that total amount as your "qualifying income" for the mortgage application.
• The Benefit: This 10% buffer accounts for market volatility, making your mortgage application solid and sustainable in the eyes of the lender.
FAQ - Mortgages for Expats with Non-Euro Income
Can I get a Dutch mortgage if I don't earn in Euros?
Yes! It is absolutely possible to secure a mortgage in the Netherlands while earning in a foreign currency. While not every lender accepts this, Mortgage Spotters works with specialized lenders who specifically accommodate expats with international income streams.
Which currencies are accepted for a mortgage application?
Most major global currencies are accepted, including:
• US Dollar (USD)
• British Pound (GBP)
• Swiss Franc (CHF)
• Scandinavian currencies (SEK, NOK, DKK)
• And several others. Contact us to check if your specific currency qualifies.
Why is only 90% of my income used for the calculation?
This is a standard safety measure known as a "haircut." Because exchange rates between, for example, the Dollar and the Euro fluctuate daily, lenders use 90% of the current Euro-value of your salary to ensure you can still comfortably afford your mortgage even if the exchange rate changes.
Do I need to provide extra documentation?
Yes, besides your standard pay slips and employment contract, you will need to provide proof of the exchange rate and sometimes historical data on your income. We will guide you through exactly which documents are needed to make your application successful.
How can I calculate my borrowing power with foreign income?
The easiest way is to use our Currency Calculator. Simply enter your gross income in your own currency, convert it to Euros, and multiply by 0.90 (90%). This figure is the basis for your Dutch mortgage calculation.
Want a precise calculation for your situation?
Don't let your currency be a barrier to owning your dream home in Amsterdam, Hoorn, or Alkmaar. Our team at Mortgage Spotters knows exactly which lenders to approach for foreign currency applications.