Calculate and apply for your mortgage all online
Your 100% online mortgage, with the guidance of our expert advisors.
- Start and submit your request online, whenever and wherever you like. Save time and avoid trips to the branch.
- Calculate your monthly payment instantly and compare options with complete transparency before signing up.
- Manage all your digital documents securely and without any paperwork.
- And you’ll always have the support of expert advisors if you need it.
Let's build your mortgage together, shall we?
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Why is a mortgage calculator important?
For most people, buying a home is the biggest investment of their lives. It's not a decision to make lightly, so financial planning is key. That's where a mortgage calculator comes in, as it's an indispensable tool for making decisions.
A mortgage calculator gives you a clear preview of how your mortgage will be structured. It's a quick and easy way to see and analyse your approximate monthly instalments, based on the mortgage amount, the interest rate (fixed or variable), the repayment period, if it's a new-build property, if it will be your primary residence, the interest, etc. Plus, you can usually compare the different types of mortgages at a glance, making it easier for you to decide which one best suits your financial expectations.
A mortgage calculator lets you explore various scenarios based on how long you plan to extend the payment of your mortgage, altering the term to see how it affects your instalments and adjusting the interest rate for future scenarios.
What do I need to know before buying a home with a mortgage?
A mortgage loan, or mortgage, is a product designed to help finance the purchase of a home. The customer asks a financial institution to lend them a sum of money, which may vary depending on the type of mortgage and whether the property is the primary or second home, and undertakes the commitment to repay the money borrowed in monthly instalments over an agreed period of time.
To calculate the instalment amount, you should take into account not only the purchase price of the home but also the mortgage repayment period and the applicable interest rate.
What's the difference between a mortgage and a personal loan?
The difference between a mortgage and a personal loan is that in the first case the mortgaged property is the guarantee.
As well as considering your monthly instalments, you also need to take into account the related expenses before you sign your mortgage agreement: management, notary, mortgage registration and stamp duty. In the case of Bankinter mortgages, the Bank pays all of these expenses.
Don't know what type of mortgage to choose?
We explain the different types of mortgages available.
Fixed-rate mortgage
This type of mortgage gives you the peace of mind of knowing that you'll pay the same amount each month. It's a very simple mortgage because you'll know the final cost of the transaction. Whether the interest rate goes up or down, your monthly instalments will never change.
Variable-rate mortgage
The key characteristic of a variable-rate mortgage is the interest rate applied. Instead of a fixed rate, interest is calculated on the basis of the Euribor plus a fixed spread.
So now you're probably wondering what the Euribor is and what a spread is.
The Euribor is an official index that we could colloquially define as 'the price of money'. In fact, it's the interest rate that banks in the euro zone apply when they lend each other money. Variable-rate mortgages are reviewed annually and updated according to this index.
As for the spread, this is what you need to focus on when comparing offers from different banks because it's this element, added to the Euribor, that will differentiate one offer from another.
Mixed mortgage
A mixed mortgage combines two interest models in the same product: fixed and variable. During the first years of the life of the mortgage, the fixed rate is applied, so your monthly instalments will always be the same. That will give you peace of mind after making an enormous financial effort.
Then after a few years the mortgage will become variable, which means that it will be subject to the Euribor and a spread, so your instalments could go up or down, depending on how the Euribor behaves.
Dual mortgage
A fixed/variable-rate mortgage that you can adapt to suit your needs. Your mortgage payment will show one tranche at a fixed rate and another one at a variable rate. You won't have to decide between one option or another. You get the best of both worlds in the same mortgage.