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Mortgage simulator
Enter the property price, your deposit and the term. Get your estimated monthly payment instantly.
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Everything about mortgages in one place
Calculate your monthly payment, find out how much the bank will lend you, and learn how to choose the best mortgage for you.
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Home savings calculator
Plan your home purchase by calculating how long you need to save to cover the deposit.
STEP BY STEP GUIDE
How to get the best mortgage?
Getting a good mortgage is not just a matter of luck: it requires planning, knowing your financial situation, and carefully comparing the offers available on the market.
Before approaching any bank, it is important to have a clear picture of your income, your savings, and the maximum property price you can afford. This will give you an advantage in negotiations.
With our free tools you can calculate your estimated monthly payment, find out how much you need to save, and get a mortgage pre-approval without leaving home.
1
Calculate how much you can borrow
Use the mortgage simulator to estimate your monthly payment based on the property price, your deposit and the desired term.
2
Gather your savings
Banks typically finance up to 80% of the appraisal value. Calculate how much you need to save for the deposit and associated costs.
3
Request pre-approval
With a mortgage pre-approval you will know in advance how much money you can count on, which will give you an advantage when negotiating with the seller.
4
Compare and negotiate
Don't settle for the first offer. Compare interest rates, fees and conditions between several banks before signing.
WE ANSWER YOUR QUESTIONS
Common questions about mortgages
In general, banks finance a maximum of 80% of the appraisal value of the property. This means you need to have saved at least 20% of the price plus the purchase costs, which are usually around 10-12% of the price. In total, it is advisable to have saved between 30% and 32% of the property price.
A fixed mortgage keeps the same interest rate throughout the life of the loan, which provides stability in the monthly payment. The variable fluctuates according to the Euribor: it can go down or up. The mixed mortgage combines an initial fixed period (usually 3-10 years) with a subsequent variable period.
The TIN (Nominal Interest Rate) is the percentage the bank charges for lending you the money. The TAE (Annual Equivalent Rate) also includes fees and other loan costs, making it the most representative figure of the actual cost of the mortgage. To compare mortgages, the TAE is the most useful indicator.
Most banks offer mortgages with terms of between 5 and 30 years. Some can go up to 40 years. The longer the term, the lower the monthly payment, but the total cost of the mortgage increases because you pay interest for longer.
Novation is the modification of the conditions of an already contracted mortgage — interest rate, term, holders — through an agreement with the same bank. It may be advisable when interest rates have fallen and you want to improve the conditions of your variable mortgage, or when you need to extend the term to reduce the monthly payment.