We use first and third-party cookies for analytical and statistical purposes and to show you personalised advertisements based on a profile compiled from your browsing habits (e.g. pages visited). For more information, click on our Cookie Policy. You can accept all cookies by pressing 'Accept', you can reject all cookies by pressing 'Reject', or you can customize your choice by pressing 'Manage'.
Buy vs rent calculator
Simulator used to help you make a decision on buying or renting a house
We have created a simulator to do the numbers, with the experience of our experts on mortgage loans, which will guide you, help you make decisions, and give you a detailed explanation of whether it's better to pay rent or instead invest that same money into buying your own house. Shall we begin?
In 4 steps. In less than 5 minutes. And with no commitment.
We explain what the Euribor, NIR and APR are.
Euribor
It is the interest rate at which European credit institutions lend money to each other and it is the benchmark for variable-rate mortgages. The fixed part that you negotiate for your variable-rate mortgage is added to the percentage established by the Euribor, known as the spread. So, if the Euribor goes down your payment goes down, and if it goes up, it goes up.
- The Euribor varies and is revised depending on the market.
NIR
It is the nominal interest rate. In other words, it is a fixed percentage that is agreed for a borrowed amount of money. It is the basis for calculating the APR, so it is important, but it is not a good reference to compare loans.
- It does not have to be annual and does not take into account expenses, etc.
AER
The equivalent annual rate (APR) tells us the actual amount that will be paid for a loan. It is a mathematical formula that includes the NIR, the commissions, the term of the loan and the payment frequency.
- It is therefore the most useful benchmark for comparing mortgages of the same type and term.
- For variable-rate mortgages, the APR is for reference only because it will also vary with the Euribor.
You may also like
Variable-rate mortgage calculator
At Bankinter we want to share with you everything we know about mortgages and everything involved in buying a house. Learn about the variable-rate mortgage and calculate fluctations in the Euribor.Fixed-rate vs variable-rate mortgage calculator
We tell you everything you need to know about fixed-rate and variable-rate mortgages so you can compare them, find out more and decide which type of mortgage suits you best.Which mortgage can I afford?
The answer may be simple but depends on many factors, some of which are very personal while others are not, such as current economic conditions, the price of money and future trends.
Call Me