Mortgage calculator

Online calculator tool to calculate monthly mortgage payment rate by entering payment term, interest rate and loan capital.

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Online mortgage rate calculator

Buying a property is a largest payment most will ever make so it is important calculate mortgage rate to know if you will be able to afford it. Our mortgage calculator generates monthly payment value based on borrowed amount, interest rate and payment years. If you are planning to place a down payment then subtract it from your total mortgage amount to calculate correct monthly payment.

Mortgage calculatro

Q Mortgage Calculator is designed to help evaluating monthly interest rates for mortgages and loans. The calculations are performed in real time in a quick and easy way. To generate monthly payment simply enter mortgage amount, payment term and interest rate. When entering the values you will notice that mortgage amount gets generated automatically as you fill the figures.

If you are a financial or real estate agent we offer mortgage calculator plugin that can be easily installed on your website. Calculator plugin offers exactly the same design and functionality as the one seen here.

Monthly payment figure generated by Q Mortgage Calculator is only a guide, we recommend asking for exact payment figures from chosen lender before committing to mortgage.

Obtaining a mortgage

Mortgage costs

Depending on which lender has been selected to provide your mortgage:

Mortgage costs for buying a property

The maximum amount you can borrow will also depend on your income. In general the rule of thumb is that you will be advanced up to 3 times your gross annual income.

The amount of down payment is also important, also one should take care about the factors in different type of savings as retirement, college, needs and others.

Main lenders

Most Spanish banks (Sol Bank, Deutsche bank, BBV and Bank of Atlántico) and Building Societies (Halifax, Norwich & Peterborough, and Abbey National) will offer mortgages for properties. Properties bought off plan can also be mortgaged, on completion.

Mortgage currency

Mortgages are available in most major currencies. We strongly advise however, that you set up your mortgage in EUROS. This safeguards your risk of exposure to currency fluctuations.

Interest rates

Interest rates for mortgages in Euro are based on EURIBOR (Euro Inter Bank Offered Rate). The lenders will normally charge EURIBOR + 1.25% but individual circumstances will determine the exact interest rate, which could be higher or lower. It is common to find that some lenders offer a lower "Start up" interest rate of 3.75% for the first year then go up to EURIBOR + 1.25% from Year 2 onwards.

Documents required

The documentation required will vary from one lender to the next. As a general guideline we have listed most of the paperwork you are likely to need, it is a good idea to prepare much of these as soon as possible. If you are employed you will need to produce:

Property Documents required

If you are self-employed you will need to produce:

Transferring money to Spain

Bank charges and commissions for transferring money from the account vary considerably from bank to bank. We recommend that you consider a currency company like HIFX who can obtain preferential rates.

Free mortgage calculator for your website

Free Q Mortgage Calculator plugin

Q Mortgage calculator is now available as a free plugin to be installed on your website.

As usual the plugin performs the calculations in real time unlike others that open secondary pages or popups.

Free mortgage calculator plugin »


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