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Variable-Rate Mortgage Simulator

How much will I pay with the variable-rate mortgage?

At Bankinter we want to share with you everything we know about mortgages and everything involved in buying a house.

Unlike other types of mortgages, a variable-rate mortgage is one in which the amount of the monthly repayments fluctuates according to its benchmark index, better known as the Euribor. The fixed spread must be added to this benchmark index and the repayment amount is recalculated every year.

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We explain what the Euribor, NIR and APR are.


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.


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.


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.

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