Spain Mortgage Calculator
New housing loans (avg. agreed rate):3,04%· Aug 2026
Your loan
Pre-filled with the latest official average: 3,04% (Aug 2026, European Central Bank, MFI interest rate statistics).
- Principal & interest€848
Upfront costs
- Down payment€50,000
- Transfer tax%€20,000
- Notary & registry%€3,750
- Cash needed at purchase€73,750
What if interest rates change?
Your payment today is just the start. See how it could move if rates go up or down during your loan.
Your rate is fixed for the whole term, so market moves won't change your payment. Choose a variable or fixed-period loan above to see the effect — or use this to judge whether refinancing could pay off.
Loan balance over time
- Remaining balance
- Interest paid (cumulative)
- Principal paid (cumulative)
Interest rates in Spain
Monthly averages. Sources: European Central Bank, MFI interest rate statistics
Buying a home in Spain: rules and costs
- Resale homes pay the regional transfer tax (ITP), typically 6–10% depending on the autonomous community.
- New homes pay 10% VAT (IVA) plus stamp duty (AJD) of about 0.5–1.5%.
- Banks usually lend up to 80% of the lower of price and valuation for a main residence.
- Fixed, variable (12-month Euribor plus a spread) and mixed mortgages are all common.
- Since 2019 the bank pays most mortgage set-up costs, including the mortgage stamp duty.
Sources: Banco de España — Portal del Cliente Bancario · Rules last reviewed 2026-10.
Frequently asked questions
How is the monthly mortgage payment calculated?
For an equal-payment loan, the payment is P × i × (1 + i)^n ÷ ((1 + i)^n − 1), where P is the loan amount, i the monthly interest rate and n the number of months. Taxes, insurance and fees are added on top.
What is the current average mortgage rate in Spain?
The latest official figure is 3,04% for New housing loans (avg. agreed rate) (Aug 2026, source: European Central Bank, MFI interest rate statistics). Your own rate depends on your deposit, income, credit history and lender.
How much does a 1-point rate rise change my payment?
On a €200,000 loan over 30 years, going from 3,04% to 4,04% raises the monthly payment from €848 to €959 — about €112 more each month.
What upfront costs should I budget for in Spain?
On a €250,000 purchase, expect about €23,750 in taxes and fees on top of your down payment. The breakdown is shown in the calculator above.
Can this calculator predict future interest rates?
No. The scenario tool shows a range of possible outcomes based on the band you choose. Nobody can predict rates reliably — use it to check whether you could still afford the loan if rates rise.