// calculator
Mortgage
Work out the payment of a fixed-rate mortgage with the French amortization system (constant payment), how much you will pay in interest and how much cash you need to buy.
Some values in the link were outside the allowed range and were ignored.
Monthly payment
—
—
Total interest
—
—
Loan-to-value
—
Cash needed
—
Income share
—
You are financing more than 80% of the price: banks usually lend at most 80% of the appraised value, unless there are guarantors or public schemes.
The payment is over 35% of your net income, a level lenders usually consider risky.
Loan over time
- Outstanding balance
- Principal repaid
- Interest paid
How we calculate
The payment uses the French system: payment = P · i / (1 − (1 + i)^−n), where P is the loan (price minus down payment), i the annual rate divided by 100 and by 12, and n the number of months. At a 0% rate, the payment is P / n.
Each month, interest is charged on the outstanding balance and the rest of the payment repays principal. That is why early payments are mostly interest and late ones mostly principal.
Cash needed is the down payment plus purchase taxes and costs, as a percentage of the price. In Spain they are usually around 10-12% for resale homes (transfer tax, notary, land registry and agency), depending on the region.
Income share is the payment divided by your monthly net income. Linked insurance, fees, appraisal and variable-rate reviews are not included.
Educational use only: this is not an offer or financial advice. Real terms depend on each lender and your profile.