Spanish mortgage calculator
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Calculate mortgage Spain
Personal calculation and advice
Our calculations and assessments always start and are based on your financial situation. A different assessment method will be applied to an employee than to a self-employed applicant. Also, if your income consists mainly of passive (rental) income, yet other methods will be used to calculate the mortgage possibilities for you in Spain.
Caclulating a mortgage in Spain
What are the main differences with other countries?
- Proof of income and (current housing- and credit costs) prevails
- Spanish Banks calculate with net income
- Using own funds when purchasing Spanish property is required
- ‘Interest – only’ mortgages are not offered
- The fixed interest rate is equal to the mortgage term
- A valuation is always required. If this is lower than the purchase price, the mortgage is based on the valuation.
Assessment method Spanish banks
Income as an employee
Additional earnings like extra hours, bonuses and allowances will be taken into account, however a different factor will be applied than the fixed income. If it can be demonstrated that the extra income is of a structural nature it may still be possible to include it with the total income.