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Our virtual calculator is designed to help you determine the mortgage you can afford based on your income and savings. Enter your details to simulate the maximum mortgage amount you could access. This calculator provides you with a personalized estimate, helping you better plan your financial future and make informed decisions about buying your home.
*Simulation based on average costs, total cost may vary.
This information provided here is subject to errors and does not form part of any contract. Offer may be changed or withdrawn without notice. Prices do not include purchase costs
Before you start looking for a property, it is useful to understand the budget you can realistically afford. Our calculator helps you estimate how much mortgage you may be able to afford based on your income, savings, existing debts, age and interest rate.
Enter your details to get an estimate of the maximum property value, maximum mortgage amount, deposit required and indicative monthly mortgage payment.
There is no single mortgage amount that is suitable for everyone. Your borrowing capacity depends on your financial situation and on the lending criteria applied by the bank when assessing your application.
For an initial estimate, four factors are particularly important:
Two people earning the same salary can therefore have very different mortgage affordability if one has more savings or fewer outstanding debts.
Banks assess what is commonly known as your debt-to-income ratio. In general, they want to ensure that your total monthly financial commitments remain compatible with your income and still leave enough room for normal living expenses.
As a general reference, mortgage lenders in Spain often work with debt ratios of around 30%–35% of monthly net income, although some applications may be assessed using different limits depending on the lender and the applicant's profile. Idealista commonly refers to a figure of around 35%, while other lenders may use reference ranges between 30% and 40%.
Reaching that percentage does not mean that a mortgage will automatically be approved. The bank will also consider factors such as employment stability, credit history, age, available savings and the characteristics of the property.
A great deal. Being able to afford the monthly mortgage payment is only part of the equation: you will also need your own funds to cover the part of the purchase price that the bank does not finance, as well as the costs associated with buying the property.
For a standard purchase of a main residence in Spain, lenders commonly use financing of up to approximately 80% of the lower of the purchase price or valuation as a reference, although the final percentage depends on the lender and the buyer's financial profile.
For example, a buyer with a high income but limited savings may still face a lower maximum property budget. Conversely, having substantial savings does not necessarily mean that you should take on an excessively high monthly mortgage payment.
The key is to find the right balance between deposit, mortgage financing and monthly payments.
To provide a more useful estimate, our calculator uses several factors related to your financial situation:
Using this information, you can obtain an estimate of:
One of the most common mistakes when calculating how much property you can afford is looking only at your salary.
Imagine two buyers with exactly the same monthly income. The first has no outstanding loans and substantial savings. The second is currently paying a personal loan and has much less money available for the deposit.
Although their income is identical, their property-buying capacity will not necessarily be the same.
This is why our calculator does more than simply ask how much you earn. The aim is to provide a better estimate of your realistic purchasing power.
Your age can influence the maximum mortgage term a lender is prepared to offer.
A longer mortgage term spreads repayment over more years and will normally reduce the monthly payment. However, extending the term can also increase the total amount of interest paid over the life of the loan.
Each lender may also set its own limits regarding the age of the borrower when the mortgage reaches its final repayment date.
Age is therefore another factor worth considering when estimating how much mortgage you may be able to afford.
They also count.
If you are currently paying car finance, a personal loan or another form of credit, those monthly payments reduce the amount of income available to service a new mortgage.
For example, someone earning €3,000 net per month with no other debts is not in the same financial position as someone who also earns €3,000 but already pays €500 per month towards existing loans.
This is why it is important to enter the total monthly payment of your existing loans into the calculator.
No. The result is an indicative estimate designed to help you understand an approximate range before you start looking for a property or applying for mortgage finance.
The actual approval of a mortgage will depend on the lender's assessment. Banks may consider factors including:
Use the calculator to plan and compare different scenarios, rather than treating the result as a mortgage pre-approval.
This question is closely related to how much mortgage you can afford, but the two are not exactly the same.
To estimate the maximum property price, you need to combine two different limits:
Your realistic property budget is the amount that satisfies both conditions at the same time.
This is why our calculator shows both the estimated maximum property value and the approximate maximum mortgage amount.
Knowing approximately how much mortgage you can afford before viewing properties helps you focus your search on homes that genuinely fit your financial situation.
It can also help you avoid one of the most frustrating situations in the buying process: finding a property you love and only later discovering that the financing required is outside your budget.
Use the calculator as an initial filter, compare different scenarios and see how your purchasing power changes when you adjust your deposit, income, existing debts or interest rate.
Once you have a clearer idea of your property budget, GestaliHome can help you find homes in Spain that better match your requirements and purchasing capacity.
The results provided by this tool are indicative and are based on the information entered and certain calculation assumptions. They do not constitute an offer, approval or commitment to provide mortgage finance. Final lending conditions will depend on the assessment carried out by each financial institution and on the specific characteristics of the transaction.
Feel free to contact us any time you want. On business hours we respond within 30 minutes.
+34 604 225 709