Our Spanish mortgage calculators

Written by Mat Marsden

Mathew works in the news team and has been living in Spain since 2005

June 14, 2022

Buying a property in Spain is a lot like doing so elsewhere, yet there are some subtle but important differences, so when you’re planning your purchase and want to see how far your finances will go and how much you can afford, having a Spanish mortgage calculator to hand is an ideal tool.

The Foxes Mortgage Calculator Spain offers a handy way to input the figures relevant to your property search and/or purchase, and see not just how the finances work out but also things such as eligibility and the ideal balance between deposit payments, interest and the resulting monthly payments on the mortgage.

This, in turn, will advise you of the costs involved, tell you what your ideal budget range is and ultimately allow you to plan your finances. You would be surprised how many people don’t assess these things before embarking on the property search process, but to avoid disappointment it pays to be properly informed, using our convenient calculator.

Payment Calculator
The Foxes Mortgage Calculator Spain is easy to use – just adjust the sliders to set the mortgage amount, mortgage term (repayment period) and the interest rate, and it will work out your monthly mortgage payments, total mortgage cost and the amount of interest paid within that sum.

Spanish Income vs Debt Calculator
This handy tool indicates how much you can borrow, using a so-called mortgage score. Bear in mind that you want to stay below 40%. To find out, you simply adjust the sliders to indicate your monthly income after tax and your current monthly debt repayments, regardless of what they are – and you know your debt to income ratio.

Determining Purchase Price
To get the answer to this important question you set the slider to the amount of money you have available as a deposit towards the property purchase. Computed against a standard 70% mortgage and 10% purchasing costs, the Spanish mortgage calculator will return the answer.

Mortgage Score
This tool calculates the debt ratio you currently have alongside the monthly payment of the new Spanish property. At the end of inputting your data, the calculator will provide an overall score that works out your chances of qualifying for a Spanish mortgage. Anything above 60% is a positive result, meaning you will be very likely to be approved for financing of your Spanish property purchase.

Contact the Foxes team to find out more or have a personal consultation – we’re there for you!

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