Mortgage affordability calculator (Spain)

How to use this mortgage affordability calculator

1. Enter your net income and other monthly debt payments

   Use the salary that actually lands in your account after tax and social contributions. Add car loans, personal loans, or other fixed monthly instalments that are not the future mortgage—they reduce the room left for a new mortgage payment.

2. Set the interest rate, term, property type, and province

   Lower rates or longer terms reduce the monthly payment for a given loan amount, which increases the maximum loan your payment can support. New builds use VAT in our model; resale uses approximate ITP for the autonomous community linked to your province.

3. Click calculate and read the loan and cost breakdown

   You will see an indicative maximum loan, total interest over the term, savings needed (down payment plus estimated taxes and fees), and a line-by-line estimate of purchase costs. Treat every figure as educational, not an offer from a bank.

How it works (summary)

The maximum payment starts from a prudent share of net income minus other debt payments. With that payment, the rate, and the term, we derive the maximum loan (constant payment). The indicative price divides that loan by typical financing (80%), assuming you cover the rest and taxes with other funds.

How much do you need to save to buy a home in Spain?

Besides the mortgage, buying a home usually requires your own funds for the part of the price banks do not finance, plus purchase taxes and closing costs. Our calculator bundles an indicative down payment (price minus loan at 80% loan-to-value) with simplified notary, registry, conveyancing, valuation, and ITP or VAT.

On resale, transfer tax (Impuesto sobre Transmisiones Patrimoniales, ITP) depends on the autonomous community and the property. On new builds, VAT often applies to the home at a general rate, with reduced rates for certain official protection homes.

Banks often finance up to around 80% of the lower of purchase price or valuation for a primary home, but rules, products, and exceptions vary. The percentage you must contribute in cash affects the price you can aim for even if your income could support a higher payment.

What affects the mortgage a lender will offer?

Spanish lenders look at more than the raw numbers in a simulator. Typical themes include:

• Debt-to-income: total monthly debt service (including the new mortgage) is often assessed against net income; many households use a figure in the region of 35% as a planning benchmark.
• Income stability and type: salaried income, self-employed history, and how rental income is counted can all change the approved amount.
• Loan-to-value and use of the property: primary home, second home, or buy-to-let can change how much of the price is financed.
• Age and term: maximum term may be limited so the loan ends before a given retirement age, which can shorten the term for older borrowers and raise the monthly payment.
• Credit history and savings: a solid track record and documented savings can support approval and better conditions.

Indicative ITP (resale) by autonomous community

The table below matches the simplified ITP rates used in this calculator for resale property (educational model). Real transactions may use reduced rates for habitual residence, family transfers, or other cases—always confirm with a professional.

Ceuta, Melilla, and other special cases are not listed here. Official protection housing and other situations may use different rates.

Before you sign a mortgage

A few practical steps can improve clarity and negotiation:

• Compare several offers: nominal rate, APR-style total cost where available, fees, early repayment terms, and bundled insurance.
• Stress-test a higher interest rate or shorter income, especially if you consider a variable or mixed loan.
• Read valuation, notary, and registry costs in the offer; who pays what can differ by bank and product.
• Keep an emergency buffer beyond the minimum down payment and taxes—moving and furnishing add up.

Important notice

Monwey provides this calculator for educational purposes. Banks apply different rates, fees, valuations, and affordability tests; ITP varies by autonomous community; VAT and stamp duty rules can change. It is not mortgage or tax advice. Speak with your bank or adviser before committing.

Frequently asked questions