SOBE Knowledge
Costa del Sol Mortgage Calculator
Monthly payment is only the beginning. Estimate the mortgage a bank may base on the lower of price or valuation, the cash needed to complete, affordability by income, rate stress and the full cost of repayment.
The property
The lending basis is normally the lower of the purchase price and the bank valuation.
Borrower and affordability
Status changes the planning LTV preset only. Every bank underwrites the borrower and property individually.
Reduces the income used in the DTI test to illustrate exchange-rate risk. The lender applies its own currency policy.
Banks often test all committed monthly debt against net income. This is an indicative planning threshold, not an approval rule.
Mortgage terms
Mortgage and bank costs
For mortgages within Spain's consumer-credit rules, the borrower generally pays the valuation; the lender normally pays the mortgage deed's notary, registry, tax and gestoría costs. Purchase taxes and conveyancing remain separate.
The valuation can change the deposit overnight
The bank lends against its security value, not against the seller's asking price.
If the agreed price is 1,000,000 EUR but the valuation is 900,000 EUR, a 70% LTV mortgage is normally based on 900,000 EUR. The difference is funded in cash, together with acquisition costs. This calculator makes that gap visible instead of hiding it inside a single “deposit” number.
Affordability and LTV are separate limits
A property can pass the LTV test and still fail the income test.
The calculator compares the requested payment with a debt-to-income threshold using net household income and existing monthly commitments. It also shows a rate-stress scenario. Banks use their own underwriting, documentation, age, currency and property rules, so the result is planning guidance rather than pre-approval.
Fixed, variable and mixed mortgages
The cheapest first payment is not always the cheapest loan.
A fixed mortgage keeps the contractual rate stable. A variable mortgage normally combines Euribor and a bank spread. A mixed mortgage starts fixed and then reprices. For variable and mixed scenarios, this calculator holds the entered Euribor constant after repricing; that is an assumption, not a forecast.
Frequently asked questions
How much can a non-resident borrow in Spain?
Many non-resident cases are planned around 60–70% of the lower of purchase price and bank valuation, while Spanish tax residents may be considered around 80%. High-value properties, income currency, age and borrower profile can reduce the figure. The calculator presets are editable planning assumptions, not lending promises.
Why is the mortgage based on the lower of price and valuation?
The bank's security is the property. If its approved valuation is below the agreed price, the lending percentage is generally applied to that lower valuation, increasing the buyer's required cash.
What cash do I need in addition to the deposit?
You normally need the part of the purchase price not covered by the mortgage, acquisition taxes and conveyancing costs, the valuation fee and any arrangement fee. Banks generally do not finance purchase taxes and professional costs.
What debt-to-income ratio do Spanish banks use?
A common planning range is roughly 30–35% of net monthly income for all committed debts, although each lender applies its own method and may use a lower or higher limit depending on the case.
Who pays the costs of creating the mortgage?
Under Spain's mortgage-credit rules, the borrower generally pays the property valuation and any requested copy of the deed. The lender normally pays the mortgage deed's notary, registry, tax and gestoría costs. Purchase taxes, lawyer and conveyancing costs are separate and remain with the buyer.
Does the variable-rate result predict future Euribor?
No. It uses the Euribor value entered and assumes it remains unchanged after each repricing. The +2 percentage-point stress result shows sensitivity, not a forecast.
Related
General information only — not financial, tax or legal advice, not a mortgage offer, valuation, approval or forecast. Results depend entirely on the assumptions entered. Lending criteria, interest rates, affordability methods and costs vary by bank, borrower and property and can change without notice. Verify the current terms with a regulated lender or mortgage intermediary and a qualified lawyer before committing.