This mortgage calculator allows you to instantly calculate your future mortgage loan. by simply entering a few details such as: the amount of your future home, term, autonomous community and interest rate, you will avoid last minute surprises. don't think twice and find out how much it will cost you to buy the house you have always dreamed of.

What exactly are mortgage calculators?

The spanish mortgage association (ahe) explains clearly and simply on its website what these simulators consist of. thus, as we can read, they allow us to "calculate the conditions of a mortgage loan, compare several products with similar characteristics, as well as project the behaviour of your mortgage loan in an economic scenario different from the current one".

The truth is that when we want to request information about how our monthly instalment will be, we are forced to familiarise ourselves with previously unknown terms such as variable, rate or amortisation.

It is becoming increasingly common to use a tool that can be used to simulate a mortgage and that, in short, will help us to find out what the terms of the loan might be and whether we are in a position to take it on. keep in mind that knowing how the instalment will be will allow us to know if our economy allows us to afford a mortgage under these conditions. experts recommend that the monthly payment should not exceed 30% of our net monthly income. otherwise, we could find ourselves in a serious financial predicament in the future, as it is likely that we will not be able to continue paying the instalments.

In particular, this simulator will provide us with valuable data such as the following.

• The amount of the mortgage
• The instalments that we will have to pay each month (which will be higher or lower depending on the number of years we have requested for their repayment).
• The total costs.
• The interest, which can be fixed or variable.

We will also obtain detailed information about expenses such as registration, notary, management, appraisal, as well as the taxes that we will have to pay.

In the light of all this data, we can compare several similar products and even find out how our loan could evolve over time if our financial conditions change.

Practically all banks have simulators that we can fill in at home and consult very easily: caixabank, banco santander, bbva, ..., even the bank of spain has one.

However, you cannot take the data of this simulator at face value, because although it allows you to know in a fairly approximate way how your instalment would be depending on your conditions, it is only a new window of information offered by the new technologies and, although they serve as a reference, they are merely indicative data.

For this reason, do not forget to consult personally with several banks beforehand so that they themselves can draw up their offer and explain to you exactly what your conditions would be. with this information, you can then compare and choose the financial institution that is most convenient for you.