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Spanish Mortgage Calculator for Non-Residents
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IN SHORT
- Banks usually lend non-residents up to 70% of the price or the valuation, whichever is lower (practice).
- Spain's average rate on new home loans was 3.16% fixed in August 2026 (INE); Euribor stood at 3.247% in September.
- The bank pays the mortgage's notary, registry and stamp duty by law; you pay the valuation and the purchase tax.
- You get the binding offer 10 days before signing, and a free session with a notary of your choice.
How much can a non-resident borrow in Spain?
There is no legal limit on what a bank may lend you. In practice, banks usually lend non-residents 60% to 70% of the price or the valuation, whichever is lower, and residents up to 80%: plan a deposit of at least 30% and the costs on top. The bank must judge you on your income, savings and debts, not mainly on the home's value, and explain a refusal (Ley 5/2019, art. 11).
- What banks usually ask non-residents for practice: passport and NIE, the last payslips or accounts, the last tax return, bank statements, a credit report from your country, the reservation or arras contract.
- The valuation: an approved valuer, independent of the bank; you may bring your own, under six months old, and the bank can't charge to check it (Orden ECO/805/2003, RDL 24/2021 art. 20).
- The age: banks usually want the loan repaid by about 75 practice.
Spanish mortgage rates in 2026
3.08%
all new home loans
3.16%
fixed
2.95%
variable, at the start
26 years
average term
Spain's average rate on new home mortgages was 3.08% in August 2026: 3.16% fixed and 2.95% at the start of a variable loan, over 26 years on average; 64.1% of them were fixed (INE, provisional). The Banco de España's APR on new home loans was 3.10%. Banks usually charge non-residents more practice.
Euribor today
The 12-month Euribor, the index of most variable loans, was 3.247% in September 2026, up from 2.22% in February (Banco de España, BOE).
| Month | Euribor | Month | Euribor |
|---|---|---|---|
| October 2025 | 2.187% | April 2026 | 2.747% |
| November 2025 | 2.217% | May 2026 | 2.804% |
| December 2025 | 2.267% | June 2026 | 2.798% |
| January 2026 | 2.245% | July 2026 | 2.855% |
| February 2026 | 2.221% | August 2026 | 2.954% |
| March 2026 | 2.565% | September 2026 | 3.247% |
The October figure comes out in the first days of November.
Fixed, variable or mixed?
Fixed
The same payment for the whole term.
Variable
Euribor plus the bank's spread, reviewed (usually each year); no floor is allowed and the rate can't go below zero (Ley 5/2019 art. 21).
Mixed
Fixed for some years, then variable.
Switching from variable to fixed costs at most 0.05% in the first three years, then nothing (Ley 5/2019 art. 23).
Sources: INE, Estadística de Hipotecas, August 2026 (provisional, published 26 October 2026); Banco de España, Boletín Estadístico, table 19.6; Euribor: Banco de España, in the BOE of 2 October 2026. Checked on 27 October 2026.
The costs of a mortgage in Spain: who pays what
| Cost | Who pays | Source |
|---|---|---|
| The mortgage deed's notary | the bank | Ley 5/2019 art. 14.1.e |
| Registering the mortgage | the bank | same |
| The agency (gestoría) | the bank | same |
| Stamp duty (AJD) on the mortgage | the bank | TRLITPAJD art. 29 (RDL 17/2018) |
| The valuation | you (usually €250–600, practice) | art. 14.1.e |
| An opening fee, if agreed | you, once (often about 0.5% for non-residents, practice) | art. 14.4 |
| The purchase tax, the purchase deed's notary and registry | you | the buying guide |
The purchase tax, region by region
| Region | Resale home | New home |
|---|---|---|
| Andalucía | 7% | VAT 10% + stamp duty 1.2% |
| Valencia region | 9% 11% over €1 million | VAT 10% + stamp duty 1.4% |
| Catalonia | 10–13% by band of the price | VAT 10% + stamp duty 1.5% |
| Madrid | 6% | VAT 10% + stamp duty 0.4–0.75% |
| Balearic Islands | 8–13% by band of the price | VAT 10% + stamp duty 1.5% 2% from €1 million |
| Canary Islands | 6.5% | IGIC 7% + stamp duty 1% |
| Murcia | 7.75% | VAT 10% + stamp duty 1.5% |
All the costs of buying, step by step: our guide to buying a house in Spain.
Sources: Ley 5/2019 art. 14 (BOE-A-2019-3814); TRLITPAJD art. 29, as amended by RDL 17/2018; each region's tax law, as in the buying guide (checked on 27 October 2026).
How to get a mortgage in Spain from abroad, step by step
1
Get your NIE. It goes into both deeds.
From €199, from abroad
2
Open a Spanish bank account. No law requires one to borrow, but the lender may require an account for the loan (Ley 5/2019 art. 17), and you need one for the deposit, the notary and the bills.
€659
3
Get a pre-approval from two or three banks or a broker, with your income documents.
4
The valuation of the home, by an approved valuer (or your own, under six months).
5
The binding offer (FEIN), the warnings sheet (FiAE) and the draft contract, at least 10 days before signing (art. 14).
6
The free notary session, in person or through a representative, at the latest the day before (art. 15).
7
Sign the purchase and the mortgage before the notary, yourself or by power of attorney.
8
The bank registers the mortgage and pays its costs.
Repaying early, insurance and other products
- Early repayment fees (art. 23, in force again since 1 January 2025): variable rate, at most 0.25% in the first 3 years or 0.15% in the first 5 (the contract picks one), then nothing; fixed rate, at most 2% for 10 years, then 1.5%; and never more than the bank's real loss.
- Tied products are banned, with two exceptions (art. 17): insurance, where the bank must accept an equivalent policy from any insurer at no cost; and an account for the loan.
- Late payments: the loan's rate plus 3 points; the whole loan can be called in only after 3% of it (or 12 payments) is unpaid in the first half of the term, 7% (or 15) in the second (arts. 24–25).
Source: Ley 5/2019 reguladora de los contratos de crédito inmobiliario, arts. 17, 23, 24 and 25, in force on 27 October 2026.
Earning in pounds or dollars?
A euro loan repaid from pounds, dollars or crowns leaves the exchange risk with you: the calculator shows your payment's share of your income if your currency falls 20%. A loan in a foreign currency can be converted to the currency you earn in, and the bank must warn you when the payments move more than 20% (Ley 5/2019 art. 20).
Paid in another currency? Add your net income in the calculator and pick your currency beside it. Add my income ↑
Three examples
| Home | Loan | Rate | Monthly payment | Cash at signing |
|---|---|---|---|---|
| €250,000 resale flat, Valencia region Try it ↑ | €175,000 (70%), 25 years | fixed 3.16% | €845 | €98,572 |
| €400,000 resale home, Andalucía Try it ↑ | €280,000 (70%), 25 years | Euribor 3.247% + 1.00 | €1,516 (€1,836 if Euribor +2) | €149,210 |
| €600,000 new home, Balearic Islands Try it ↑ | €360,000 (60%), 20 years | 3.0% for 10 years, then Euribor + 1.00 | €1,997, then €2,118 | €310,394 |
Tax on a mortgaged home when you live abroad
Spain gives no tax relief on buying a main home since 2013. As a non-resident, mortgage interest is deductible only from Spanish rental income, and only if you live in the EU or the EEA; a home you don't rent out pays the non-residents' tax on an imputed income, with no deduction.
Property tax in Spain when you live abroad, in our buying guide.
Sources: LIRPF, transitional provision 18 (Ley 16/2012); TRLIRNR art. 24.
More on buying in Spain
Buying a house in Spain as a foreigner
The NIE you need for the deed, the purchase tax region by region, the real costs and the 7 steps.
Guide
Inheritance tax in Spain for non-residents
What each heir pays region by region, the 6-month deadline, the NIE, and the steps from abroad.
Guide
How to get your NIE in Spain
The number that goes into the purchase deed and the mortgage deed, and how to get it from abroad.
Guide
FAQ
Spanish mortgages: frequently asked questions. Still need help? Chat to get answers from the AnchorLess team.
Chat with us
Can non-residents get a mortgage in Spain?
Can non-residents get a mortgage in Spain?
How much deposit do I need for a Spanish mortgage?
How much deposit do I need for a Spanish mortgage?
What are Spanish mortgage rates in 2026?
What are Spanish mortgage rates in 2026?
Who pays the costs of a mortgage in Spain?
Who pays the costs of a mortgage in Spain?
Do I need a NIE to get a mortgage in Spain?
Do I need a NIE to get a mortgage in Spain?
Do I need a Spanish bank account?
Do I need a Spanish bank account?
How long can a Spanish mortgage last?
How long can a Spanish mortgage last?
Can I repay a Spanish mortgage early?
Can I repay a Spanish mortgage early?
Can I get a mortgage in Spain if I earn in pounds or dollars?
Can I get a mortgage in Spain if I earn in pounds or dollars?
Is the calculator's result an offer?
Is the calculator's result an offer?
Buying in Spain? Start with your NIE.
It goes into the deeds, and the bank asks for it with your file.
AnchorLess is not a bank, accountant, tax advisor, investment advisor, or law firm, nor are we a government or official government website. We act as an intermediary, helping connect you with accredited professionals and streamlining administrative processes for your relocation in Europe.
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