Mortgage calculator
The instalment comes out of the capital, the rate and the term. Here you see all three at once, plus the interest over the whole life of the loan and the share the bank is lending you.
- Amount borrowed
- €200,000.00
- Total interest
- €99,685.53
- Total cost
- €299,685.53
- Loan to value
- 80%
This is a simulation based on what you typed. It does not replace your books or your advisor.
Take it into your Fider accountHow to use it
- Enter the price of the property, not the appraisal.
- Put in the down payment you have saved. Banks usually ask for 20%.
- Use the rate you have been offered. For a variable one, add euribor and spread.
- Look at the total interest: it is the real price of paying over 30 years instead of 20.
The 80% is not the bank being difficult
Most lenders finance up to 80% of the lower of price and appraisal. The other 20% and the purchase costs come out of your pocket, so the real entry sits around 30% of the price.
The term changes the instalment, and changes the total far more
Stretching from 20 to 30 years lowers the instalment, but adds ten years of interest on a capital that falls more slowly. Try both terms and compare the total interest row.
Fixed, variable or mixed
A fixed rate tells you the instalment for thirty years. A variable one is revised against euribor and can go up or down. To compare, run the variable at today's euribor and again at two points more.
The instalment uses the French amortisation system, the one Spanish banks apply. It excludes insurance, fees and rate discounts.
Frequently asked questions
How much will they lend me?
As a reference, 80% of the price, and an instalment no higher than 30-35% of your net monthly income.
What does buying cost?
Between 10% and 12% of the price for a resale home (transfer tax, notary, registry, agency, appraisal) and somewhat less for new build, where VAT and stamp duty apply.
Does the instalment include insurance?
No. This calculator gives the loan instalment. The home and life policies the bank discounts for are separate.
Is early repayment worth it?
Almost always when the rate is high. Cutting the term saves more interest than cutting the instalment, though it eases the month less.
What is LTV?
Loan to value: the capital borrowed divided by the price. Below 80% usually unlocks better conditions.