Are You Eligible for a Spanish Mortgage?
Our advanced scoring algorithm analyzes your financial profile against current Spanish banking criteria. Whether you are a resident looking for 80% LTV or a non-resident aiming for 70%, get an instant assessment of your borrowing power.
Your results
How does it work
The way banks score you is different in every country.
In Spain, banks look at your taxed income, and how much debt you manage.
Our advanced Spanish mortgage calculator takes these figures into account and gives you an accurate score out of 100.
Accurate scoring system
Our scoring system takes into account all the relevant figures and produces an accurate % score based on how the banks will score you.
If your score is above 60% then there is a very good chance you will qualify, the higher the score the better the chance you will qualify for a Spanish mortgage.
Mortgage Calculator Controls
Monthly Income
Your total income each month after tax. If you are buying with another person, you can combine these figures.
Monthly Debt
Mortgage payments, car loans, credit card bills. Add up how much you pay in total each month to maintain these debts.
Loan Amount
The maximum LTV (loan to value) you can borrow is 70% if you are a non-tax resident. So the loan figure assumes this total value.
Taxes & Costs
This is based on where you purchase, local taxes plus other relevant purchase costs.
Mortgage Term
The normal term of a loan in Spain is between 10-35 years. Regardless your mortgage term must complete before you are 75 years of age.
Your Results explained
Debt-to-Income Ratio (DTI)
Spanish banks typically require your total monthly debts to stay below 40% of your net monthly income.
Monthly Payments
The amount you repay the bank each month, capital plus interest.
Deposit Required
This is your total cash contribution toward the purchase price, excluding the amount financed by the bank
Loan-to-Value (LTV)
The percentage of the property price you are borrowing from the bank. For example, an 80% LTV means the bank provides 80% of the funds and you provide the remaining 20%.
Taxes & Costs
An estimate of all the expenses associated with a property purchase in Spain, including ITP (Transfer Tax), Notary fees, and Land Registry costs.
Total Interest
The total amount you will pay the bank for borrowing the capital over the full life of the loan. This is the “cost of credit” on top of the original loan amount.
Total Cash Required
The total liquid savings you need to have ready to complete the purchase. This is the sum of your Deposit plus the Taxes & Costs.
Total Repayable
The final sum of the loan amount plus all interest accrued over the years.
Working hard for our customers
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Key questions answered
Buying in a foreign country will likely be different from buying in your home country.
Here are some of the questions we get asked the most, but if your question is not covered then our experienced team is on standby to help.
What documents do the banks require?
- Copies of your Passport / NIE (for all parties that will be on the mortgage)
- Your most recent tax declaration or P60
- Your last three payslips
- Details of other properties you own including any potential rental income
- A bank statement of the last 6 month
- An Experian credit report
Is there a fee to find out what I can borrow?
Does age effect the loan period?
What is the maximum LTV (Loan to value)?
Up to 80% for Spanish residents
The value of the loan will be based on the property valuation or the property price, whichever is lower.
Can I release equity from my Spanish property?
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