Spain mortgage calculator.

How to calculate a mortgage in Spain

This Spain mortgage calculator estimates the monthly repayment on a home loan in euros, then adds optional property tax (IBI), home insurance, community fees and life insurance. It also shows total interest, an annual amortization schedule, an appraisal-based loan-to-value estimate and the effect of making extra payments.

Fixed, variable and mixed mortgages in Spain

A fixed-rate mortgage keeps the entered rate constant in this illustration. For a variable-rate mortgage, the calculator uses the Euribor value plus the bank margin you enter. Variable payments can rise or fall when the reference rate is reviewed. A mixed mortgage normally begins with a fixed period and later changes to a variable formula; because future Euribor is unknown, this calculator holds the initial rate constant and lets you test higher rates separately.

Appraisal value and mortgage LTV

Spanish lenders use a regulated property appraisal when assessing mortgage risk. The calculator compares the requested loan with the lower of the purchase price and entered appraisal value. Financing of up to about 80% of the appraisal is common, but it is not guaranteed and limits can be lower for second homes, investment properties or non-resident applicants. The Banco de España explains the role of the appraisal.

Taxes and buying costs

Buying costs depend on whether the property is new or resale, its autonomous community, the buyer and the transaction. Use the editable percentage as one combined planning estimate for taxes and purchase expenses, then add the appraisal fee separately. Ask a local tax adviser or conveyancing professional for a transaction-specific figure.

Purchase expenses are different from the formalisation costs of the mortgage itself. For mortgages covered by Spain's Law 5/2019, the customer generally pays the appraisal and any requested copy of the mortgage deed, while the lender bears the mortgage deed notary, registry, tax and agency costs. See the Banco de España guide to mortgage costs.

Check affordability and rate risk

The debt-burden estimate compares the mortgage payment, existing debt and entered life insurance with net monthly income. It is a planning indicator rather than a lending decision. Use the stress test to see what a higher rate could do to payments, particularly for variable or mixed mortgages. The Banco de España describes why variable-rate simulations matter.

Spain mortgage calculator FAQ

Does this calculator use the current Euribor?

No. Euribor changes over time, so you enter the benchmark rate you want to test. Check your mortgage offer for the relevant Euribor term, margin, review date and any discounts.

Are purchase taxes included in the mortgage payment?

No. The estimated purchase taxes, costs and appraisal are shown as upfront planning costs and are not added to the loan or monthly repayment.

Can I model early repayments?

Yes. Enter monthly, annual or one-time extra payments to compare interest and payoff time. Confirm any early-repayment conditions or compensation in your mortgage documents before relying on the result.