How much deposit do I need for a mortgage in Spain?

Spanish banks typically lend up to 80% of the lower of the purchase price or the bank's valuation for residents, so you generally need at least a 20% deposit plus around 10–12% for taxes and fees. Non-residents are often capped at 60–70% LTV.

Are Spanish mortgages fixed or variable?

Both exist. Variable-rate mortgages are priced as the 12-month Euribor plus a fixed spread, usually around 0.5–2%. Fixed-rate mortgages lock a single rate for the whole term. Mixed mortgages start fixed then switch to variable.

The Ley de Contratos de Crédito Inmobiliario (LCCI), in force since 2019, regulates Spanish mortgages. It requires a binding offer (FEIN), a notary review of the terms before signing, and limits on early-repayment penalties, strengthening borrower protection.

How is the monthly payment calculated?

Spanish mortgages use the standard French amortisation system: a fixed monthly instalment covering interest on the outstanding balance plus a growing share of principal, so the loan reaches zero at the end of the term.

Does this calculator store my data?

No. All calculations happen locally in your browser and nothing is uploaded, so your figures stay private.

Spain Mortgage Calculator

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This Spain mortgage calculator models a Spanish hipoteca — monthly repayment, total interest and amortisation — using local norms such as the 80% LTV limit for residents and Euribor-linked pricing under the post-2019 LCCI framework.

How it works

The monthly payment uses the standard French amortisation formula:

M = P · r / (1 − (1 + r)^−n)

where P is the loan, r the monthly rate (annual rate / 12) and n the number of monthly payments. Variable Spanish mortgages set the annual rate as 12-month Euribor + spread (often 0.5–2%); fixed mortgages use one rate for the whole term.

The calculator also checks your loan-to-value (LTV): loan / property price. Spanish lenders typically cap residents at 80%, so a higher LTV flags that you likely need a bigger deposit. Remember to budget another 10–12% on top for transfer tax, notary, registry and agency fees.

Example

A EUR 300,000 home with a EUR 60,000 deposit means a EUR 240,000 loan at 80% LTV. At a 3.0% fixed rate over 25 years (300 months), the monthly rate is 0.03 / 12 = 0.0025, giving a payment of about EUR 1,138 and roughly EUR 101,000 of total interest.

Notes

This is an estimate of the loan repayment only. It excludes purchase taxes (ITP/AJD), notary and registry fees, life and home insurance often bundled by the bank, and the lender’s affordability stress test. Non-residents face lower LTV caps. Confirm with your bank’s FEIN binding offer.