Spanish Mortgage Calculator 2026: Monthly payment, interest and amortization

Property price

FAQ: Spanish mortgages

What is the French amortization system?

The French system is the most common mortgage amortization method in Spain. The monthly payment is constant throughout the loan's life, but the split between principal and interest changes: at the start almost everything is interest; near the end, almost everything is principal repayment. The amortization table in this calculator shows this breakdown.

Fixed or variable mortgage?

A fixed mortgage has a constant rate throughout: full predictability. A variable mortgage is linked to Euribor + a spread: when Euribor rises, your payment rises; when it falls, it falls. Historically (long term) variable has been cheaper, but the 2022-2024 rate hike risk is real. Mixed mortgages (fixed for the first 5-10 years then variable) are a middle ground.

What costs are there beyond the mortgage?

When buying property in Spain: ITP 6-10% (second-hand, varies by region) or VAT 10%+AJD 1.5% (new build), notary (~0.5%), Land Registry (~0.2%), legal/management (~0.3%), valuation (~0.15%) and mortgage arrangement fee (0-2%). Since LCCI 2019, the bank pays the mortgage AJD. Budget 8-12% of the purchase price for these additional costs.

Legal note: Indicative calculator based on the French amortization system (constant payments). Does not include linked insurance, arrangement fees, early repayment or subrogations. Interest rates are illustrative; actual conditions depend on each lender, your risk profile and the property valuation. For legal analysis of mortgage contracts (floor clauses, IRPH, acceleration clauses), consult a banking law specialist.

Questions about your mortgage?

Lexiel answers questions about mortgage clauses, costs, Euribor, modification and mortgagor rights with verified references to LCCI and CJEU case law.

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