The 21-year-old is expected to join Racing Santander, who have just secured promotion back to the top flight and see him as a chance to bolster their goalkeeping options as they prepare for a return to elite competition. Racing had reportedly moved ahead of a chasing pack that also included Espanyol, Celta Vigo and Sevilla, among others, in the race for his signature.
Gonzalez has been a fixture in Real Madrid squads without ever displacing the club's senior options, and is regarded internally as a long-term successor to Thibaut Courtois rather than someone ready to compete for the gloves immediately.
A loan exit is seen as the most sensible next step in his development, allowing him to gain the kind of regular first-team football that has been unavailable to him in the Spanish capital.
Standing close to two metres tall, Gonzalez has drawn comparisons to Courtois himself for his commanding presence and aerial dominance, attributes that have made him a popular figure among the coaching staff even without regular senior minutes.
He has already featured for the first team on a handful of occasions in emergencies, stepping in when both Courtois and Andriy Lunin were unavailable, and has continued developing his game with the club's reserve side in the meantime.
A temporary departure would suit both parties: Real Madrid retain the option of a swift recall should injuries strike at the top level, while Gonzalez gets the consistent senior football essential at this stage of his development.
Racing's return to the top flight adds an extra layer of appeal, offering a stage on which a young goalkeeper of his profile could establish himself quickly.