Monthly payment, true cost (APR (TAE)), fixed or variable rate risk and how much you can afford, with the rules that apply in Spain.
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For a mortgage of 180,000 EUR over 28 years at 2.9%, the monthly payment is about 782.94 EUR. Change the amount, term and rate in the calculator above to see your own payment.
The APR (TAE) includes fees and required costs on top of interest. In our example with typical fees the APR (TAE) is 3.28% while the nominal rate is 2.9%. Compare loans by the APR (TAE) and by the total amount you repay.
Variable Spanish mortgages follow the 12 month Euribor, which was 3.247% in September 2026. The rate is reviewed once or twice a year, so a rise reaches your payment with a delay. If rates rose by 2 points, the payment in our example would go up to 985.66 EUR. A fixed rate protects you from that risk, a variable rate can be cheaper when rates fall.
Banks in Spain usually lend up to 80% of the appraised value and prefer payments below about 30% to 35% of net income. You need savings for the remaining 20% plus about 10% for taxes and costs. Enter your income to check your ratio.
In Spain the nominal rate is called TIN and the effective rate TAE. Mortgages can be fixed, variable on the 12 month Euribor, or mixed with a fixed period followed by a variable one. Banks often lower the rate if you take extra products such as payroll account, insurance or a pension plan, and those products must be included in the TAE.
The nominal interest rate only covers interest. The APR (TAE) adds the fees and costs you must pay to get the loan, such as processing fees, account fees and required insurance, and turns everything into one yearly percentage. Two loans with the same interest rate can have very different APR (TAE). When you compare offers for the same amount and term, the lower APR (TAE) is usually the cheaper loan.
A fixed rate keeps your payment the same for an agreed period, so you know exactly what you pay. A variable rate is a reference rate (for example Euribor) plus the bank's margin. It is often lower at the start, but your payment rises when the reference rate rises. Use the stress test above to see your payment if rates go up by 1, 2 or 3 points, and only choose variable if you could still pay that.
With equal payments (annuity) the monthly amount stays the same, and at the start most of it is interest. With equal principal the first payments are higher but fall every month, and you pay less interest in total. Switch the repayment option in the calculator to see the difference.
Look beyond the monthly payment. Add up interest, upfront fees, monthly account and insurance costs, valuation and notary costs. A longer term lowers the payment but increases the total interest a lot. The line "cost per 100 borrowed" shows how much you pay for every 100 you borrow.
Paying off part of the loan early saves interest. Many countries limit what banks may charge for it, and variable-rate loans can often be repaid without a fee. Read the early repayment clause before you sign.
Typical mortgage at today's average rate, equal monthly payments, without fees. Interest rate: 2.9%.
| Amount | Term (years) | Monthly payment | Total interest |
|---|---|---|---|
| 120,000 EUR | 25 | 562.83 EUR | 48,850 EUR |
| 180,000 EUR | 28 | 782.94 EUR | 83,069 EUR |
| 250,000 EUR | 30 | 1,040.57 EUR | 124,607 EUR |
Yes. Under Law 5/2019 the fee on fixed mortgages is at most 2% in the first 10 years and 1.5% afterwards. On variable mortgages it is at most 0.25% in the first 3 years or 0.15% in the first 5 years, and nothing after that.
In October 2026 Spanish mortgages average about 3.0% to 3.1%. Fixed offers start below 2.5% with bundled products, and variable ones are typically Euribor plus 0.5 to 1 point. Personal loans cost about 7% to 9%.
No. It is an educational calculator. Your bank sets the final rate and costs. Use the results to understand and compare offers, and ask for the official pre-contract information before signing.
This page is educational. Rates are examples based on central bank statistics and published offers in October 2026, and your bank will price your loan individually. Always compare the official offer document (ESIS or standard information form) before you sign.