Hipoteca ClaraSpanish mortgage calculator
Calculate the payment, the interest and the amortization schedule of a mortgage in Spain. Enter the property price or just the loan amount.
Spanish market onlyAmortization schedule
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How to use this calculator
Choose whether to start from the property price or just the loan amount. With the price, the calculator applies the percentage the bank finances and shows the savings you need to bring: the deposit plus taxes and purchase costs. Then enter the term in years and the interest rate.
If your mortgage is fixed rate, enter the TIN shown in your offer. If it is variable, enter the current Euribor, the spread your bank offers and the Euribor you assume from the second year. The result updates instantly and you can copy the link with your figures to share it.
What exactly it calculates
The payment uses the French amortization system, the usual one in Spain: you pay a constant instalment and, over time, a growing share of it goes to capital and less to interest. With C as the capital, i as the monthly rate (the annual rate divided by 12) and n as the number of instalments, the formula is:
payment = C · i · (1 + i)^n / ((1 + i)^n − 1)
The guide to the monthly payment explains it step by step with an example, and the methodology page details the assumptions.
For a variable mortgage
The rate applied is Euribor plus the spread. The calculator uses the Euribor you enter for the first year and the "future Euribor" from month 13, and recalculates the payment every month from the outstanding capital. It is an assumption, not a forecast: only the first payment is exact, because the future Euribor is unknown. Try several values to see how far your payment could move.
What the calculation does not include
It calculates capital and interest. It does not include insurance, fees, tied products or other products the bank may link to the mortgage. To compare offers properly, also look at the TAE and the spread and ask for the information sheet the bank must give you.
Frequently asked questions
How is a mortgage payment calculated?
With the French amortization system: a constant payment that depends on the capital, the monthly interest rate and the number of instalments. At the start most of it is interest and, over time, the capital part grows. The payment guide explains it with an example.
What is the difference between TIN and TAE?
The TIN is the nominal interest rate used to calculate the payment. The TAE (annual percentage rate) also includes fees and other costs, so it is usually higher. The TAE is the figure used to compare offers. More in the guide on TIN, TAE and spread.
Is a fixed or a variable mortgage better?
There is no answer valid for everyone. A fixed rate gives a stable payment; a variable one moves with Euribor and can go up or down. It depends on how much risk you want to take and on your budget. We compare them in the guide on fixed, variable or mixed mortgages.
What costs are there besides the mortgage?
When buying there are taxes (IVA and AJD on a new home, ITP on a resale home), notary, land registry and agent fees. Each autonomous community sets the tax rates. We detail it in the guide on the costs of buying a home.