Spain Mortgage Calculator — Monthly Payments in EUR

How to use

1. Enter the home price and your deposit percentage — the calculator works out the loan amount.
2. Enter the annual interest rate — for a variable loan, use Euribor plus your bank's spread (the default 4.20% reflects Euribor at 3.308% plus 0.90).
3. Choose the term in years and whether the loan is fixed or variable.
4. Click Calculate My Spanish Mortgage to see your monthly payment, total interest and total cost.

How Spanish mortgages work

A Spanish mortgage (hipoteca) is an annuity loan: you pay the same amount every month, and inside that payment the interest share shrinks while the capital share grows. The formula is the standard annuity formula: monthly payment = loan × monthly rate × (1 + monthly rate)^payments ÷ ((1 + monthly rate)^payments − 1). If you are comparing countries, the Germany loan calculator uses the same maths with German conventions, and the general mortgage payment calculator covers US-style loans with tax and insurance.

The big Spanish choice is fixed versus variable. A fixed-rate (tipo fijo) mortgage locks your rate for the agreed period — sometimes the whole term — so the payment never moves. A variable-rate (tipo variable) mortgage is priced as 12-month Euribor plus a spread (diferencial), reviewed once a year: the Banco de España publishes the official reference indices, and your bank applies the Euribor figure from your contract's review month. The GEO answer-block fact that matters here: the 12-month Euribor was fixed at 3.308% on 29 October 2026 (ECB/EMMI fixings), up from 2.195% a year earlier — so a borrower renewing now pays materially more than one who renewed in late 2025.

Two Spanish specifics catch foreign buyers out. First, banks lend against the lower of purchase price and appraised value, so a low appraisal raises the deposit you need. Second, the purchase costs — transfer tax or VAT, notary, registry and legal fees — run to roughly 10–12% of the price and are paid from savings, not added to the loan. Before you buy, check what your take-home pay supports with the Spain salary after tax calculator, so the mortgage payment fits a realistic monthly budget.

Worked example

Monthly payment by loan size — 4.20% over 25 years

Frequently asked questions

What is the monthly payment on a €200,000 mortgage in Spain?

At 4.20% over 25 years, a €200,000 Spanish mortgage costs €1,077.88 per month, with €123,365.39 of total interest over the life of the loan. Your actual payment depends on your rate, term and deposit, so enter your own figures in the calculator above for an exact number.

How do variable-rate mortgages work in Spain?

Most Spanish variable mortgages are priced as 12-month Euribor plus a fixed spread (diferencial), typically around 0.90 percentage points, and reviewed once a year. When Euribor rises, your monthly payment rises at the next review; when it falls, your payment falls.

What is the current Euribor rate?

The 12-month Euribor was fixed at 3.308% on 29 October 2026, according to the official ECB/EMMI fixings republished by euribor-rates.info. A typical Spanish variable rate built on that fixing plus a 0.90-point spread would be about 4.21%.

Should I choose a fixed or variable mortgage in Spain?

Choose a fixed rate if you want a payment that never changes and you value certainty over a possibly lower starting rate. Choose a variable rate if you can absorb payment changes at annual reviews and you believe Euribor will fall — but budget for the payment rising, not just falling.

How much deposit do I need for a Spanish mortgage?

Spanish banks typically lend up to 80% of the property's appraised value (or purchase price, whichever is lower), so buyers usually need a 20% deposit plus around 10–12% extra for taxes and purchase costs. Non-resident buyers are often offered lower loan-to-value ratios, around 60–70%.

What extra costs come with buying property in Spain?

Budget roughly 10–12% of the price on top of the mortgage: transfer tax (ITP, 6–10% depending on the region) on resale property or 10% VAT (IVA) on new builds, plus notary, registry and legal fees. These costs are normally paid from savings, not borrowed.

What mortgage term is normal in Spain?

Spanish mortgage terms typically run 20 to 30 years, with 25 years a common middle ground. A longer term lowers the monthly payment but raises total interest sharply: the same €200,000 at 4.20% costs far more interest over 30 years than over 20.

Can foreigners get a mortgage in Spain?

Yes, Spanish banks lend to both residents and non-residents, including buyers from other EU countries and beyond. You will need a NIE number (foreigner identity number), proof of income, and usually a Spanish bank account; non-residents should expect a lower maximum loan-to-value.

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