Free tool
Mortgage calculator: fixed, variable or mixed
What you'll pay each month, the total interest and what you'll still owe at the end of each year, with the latest official Euribor.
How the payment is worked out
A mortgage payment is normally worked out with the constant-payment system, also known as the French system 1: you pay the same each month while the rate doesn't change, and each payment has an interest part and a capital part. Interest is charged on what you still owe, so it weighs more at first and the capital part grows over the years.
Fixed, variable or mixed
- Fixed rate
- The rate doesn't change for the life of the loan, and neither does the payment.
- Variable rate
- The rate is a reference index, such as the 12-month Euribor, plus a spread. It's reviewed on the dates the contract sets, and the payment changes with it.
- Mixed rate
- Fixed for the first years and variable afterwards.
- Euribor
- The index variable mortgages are usually tied to. The official value is each month's average, calculated by EMMI and published by the Banco de España 2.
- Spread
- What the bank adds to the Euribor. It's agreed when you sign and stated in the offer.
In October 2026 the 12-month Euribor was 3.239%, against 2.187% in October 2025 3,4. On a variable mortgage, a rise like that shows up in the payment at the next review. On variable mortgages signed under the current law, the interest rate can't be negative and the contract can't set a floor on the rate, the so-called cláusula suelo 5.
Before you sign
- At least 10 calendar days before signing, the bank must give you the FEIN, the sheet with the offer's terms, which binds it until signing, and the FiAE, which warns you about the most important clauses 5.
- Within that period you go in person to a notary of your choice, at the latest the day before signing. They explain the offer clause by clause and draw up a record, free of charge; without it the deed can't be signed 5.
- You pay for the valuation. The gestoría, the notary for the loan deed and the land registry are paid by the bank 5.
What does the calculator's payment include?
Only capital and interest. It doesn't include insurance, taxes or purchase costs, or bank fees.
Why can a variable payment change?
Because at each review the bank recalculates the payment with the Euribor at that time plus the spread, and with what you still owe. The calculator assumes the Euribor stays at its latest value, as the official variable TAE does 2.
Can I repay the mortgage early?
Yes, always, in full or in part. The maximum fee depends on the rate and how long the loan has run; our guide to early repayment explains it 5.
Sources
- Banco de España, Portal del Cliente Bancario. La cuota hipotecaria. clientebancario.bde.es/pcb/es/menu-horizontal/productosservici/financiacion/hipotecas/guia-textual/primerospasoscon/Cuota_hipotecaria.html
- Circular 5/2012, de 27 de junio, del Banco de España, sobre transparencia de los servicios bancarios y responsabilidad en la concesión de préstamos. Texto consolidado, BOE. www.boe.es/buscar/act.php?id=BOE-A-2012-9058
- Resolución de 3 de noviembre de 2026, del Banco de España, que publica los índices de referencia oficiales de octubre de 2026, entre ellos el Euríbor a un año. BOE-A-2026-23168. www.boe.es/diario_boe/txt.php?id=BOE-A-2026-23168
- Resolución de 3 de noviembre de 2025, del Banco de España, que publica los índices de referencia oficiales de octubre de 2025, entre ellos el Euríbor a un año. BOE-A-2025-22331. www.boe.es/diario_boe/txt.php?id=BOE-A-2025-22331
- Ley 5/2019, de 15 de marzo, reguladora de los contratos de crédito inmobiliario. Texto consolidado, BOE. www.boe.es/buscar/act.php?id=BOE-A-2019-3814
General information, not financial advice. The calculators give estimates: what counts are the terms of your bank's offer. bancos.app is not a bank and isn't linked to any bank.