Spanish mortgage calculator for expats: run your numbers the way a bank will
Updated: July 15, 2026
Generic mortgage calculators from your home country will get Spain wrong: they don’t know the regional purchase taxes, they assume the wrong loan-to-value, and they’ve never heard of the Euribor. Here’s how to simulate a Spanish mortgage properly as an expat — and the calculator, below, that does it for you.
What’s different about the Spanish numbers
- The taxes are inside the operation. In Spain you’ll pay roughly 4-13% in transfer tax depending on the region (see the map) — charged on the higher of the price and the official cadastral valor de referencia — or, on new builds, 10% VAT plus your region’s AJD stamp duty (0.5-1.5%; in the Canary Islands, 7% IGIC instead of VAT). If you finance the purchase, that tax bill shapes how much savings you need. Our calculator adds it automatically per region.
- Loan-to-value depends on your residence status. Residents: typically up to 80% of the lower of price and valuation. Non-residents: 60-70% — the details are in the non-residents mortgage guide.
- The variable index is the 12-month Euribor. Variable loans reprice yearly (sometimes every 6 months) at Euribor + spread. Check where the Euribor stands today and simulate scenarios before choosing variable.
- The debt ceiling is ~30-35% of net income. Spanish banks apply the same affordability rule to foreign income — evidenced with payslips and tax returns from your country. Get your maximum with how much can I borrow?.
How to use the calculator like a bank analyst
- Price and appraisal: enter the agreed price; if you already have a valuation, enter it too — banks lend on the lower of the two.
- Region and property type: this sets the tax (ITP or VAT) added to the operation. Use the “Calculate ITP” flow if you qualify for reduced rates.
- Down payment (ahorro): for a non-resident simulation, set it to at least 30-40% of the price so the financed share stays at 60-70%.
- Rate: try a realistic fixed APR from the live bank comparison, then re-run as variable to see the Euribor sensitivity table.
- Term: 25 years is a common cap for non-residents; the loan usually must end before age ~75.
Reading the results
The receipt shows the monthly payment, the total financed (price + taxes − down payment), the financing percentage and total interest. Two sanity checks before you get excited: the payment should stay under ~35% of your net monthly income, and the “savings needed” figure — down payment plus purchase costs — should be money you have without selling anything you can’t sell. Scroll down and run it.