Fixed Mortgage Calculator
Applicable interest rate depending on the percentage of financing you apply for and the term you choose
Up to 15 years | 16-20 years | 21-25 years | 26-30 years | |
Up to 50% | 1.55% NIR^{1} (1.75% APR^{2}) | 1.65% NIR^{1} (1.85% APR^{2}) | 1.70% NIR^{1} (1.89% APR^{2}) | 1.79% NIR^{1} (1.98% APR^{2}) |
Up to 70% | 1.75% NIR^{1} (1.95% APR^{2}) | 1.90% NIR^{1} (2.10% APR^{2}) | 1.95% NIR^{1} (2.14% APR^{2}) | 2.05% NIR^{1} (2.24% APR^{2}) |
Up to 80% | 1.85% NIR^{1} (2.05% APR^{2}) | 2.00% NIR^{1} (2.20% APR^{2}) | 2.05% NIR^{1} (2.24% APR^{2}) | 2.15% NIR^{1} (2.34% APR^{2}) |
Calculate your repayments
If you've already started an application, click here.
Want to know more about the mortgage calculator?
When buying a home it's important to know the options you have as a customer. With our online mortgage calculator you can:
- Apply for your mortgage online in just a few minutes, from anywhere.
- Find out the amount of your repayments and the costs involved in the purchase of your home.
You only have to choose the options based on the home you want to buy:
- Primary home or second home.
- Whether it's a new home or a resale home.
- The Autonomous Community where it's located.
Then you must enter:
- The price of the home. Please note that if it's a new home, you must include the price without VAT in the field "How much does the home cost?”.
- The amount you need to finance the purchase.
- How long you want to repay this amount.
Finally, click on "Calculate" and the calculator will calculate your mortgage online with the different alternatives (fixed, variable or mixed interest rates) so you can decide which one suits your preferences best.
- Open Fixed Mortgage: The payment will always be the same throughout the term of the loan. Regardless of whether Euribor increases or decreases.
- Open Variable Mortgage: The payment may increase or decrease every six months, depending on changes in Euribor.
- Open Mixed Mortgage: For the first ten years your payment always remains fixed. From then on it will be updated annually with the applicable Euribor.
^{1 }These interest rates will apply providing you meet the following requirement: Have your salary, pension or any other regular payment received by transfer as remuneration paid directly into Openbank, or make a deposit every month into Openbank from an account in another bank. For a sole holder, the amount of any of the above payments must be equal to or greater than €900 per month. If there are two or more owners, the minimum amount is €1,800 per month. You will have 3 months from the time the loan is arranged to have your salary, pension or any other regular payment received by transfer as remuneration paid directly into Openbank. If you do not meet the above requirement, the interest rate applicable after non-fulfilment will vary and will be the result of adding a spread of 1.20% to the annual nominal interest rate. All holders must be tax residents of Spain and hold a current account with Openbank as an operational medium for the mortgage loan. No arrangement or maintenance fees. Lending subject to approval by Openbank.
^{2} The APR was calculated based on the assumption that the mortgage agreement will remain in force for the agreed term and that Openbank and the applicant will comply with their obligations in accordance with the terms of the agreement. The following has also been taken into account: (i) compulsory insurance against fire and other damage: €150/year (approximate amount as its cost will depend on the company you choose to arrange it with).
It is a fixed interest rate loan for the entire life of the loan to purchase a first or second home. The interest rate will vary (according to the table) depending on the percentage of financing and the term of the operation. The APR has been calculated taking into account a mortgage loan of €150,000 repayable over 15, 20, 25 and 30 years, in 180, 240, 300, and 360 monthly instalments, respectively. . The total amount payable indicated in the representative examples includes: capital, interest and insurance premium.
Representative example for a mortgage of €150,000 over 15 years: Mortgage for up to 50% of the property value, monthly instalments of €934.49 and a total amount payable of €170,458,20. Mortgage for up to 70% of the property value, monthly instalments of €948.09 and a total amount payable of €172,906,20. Mortgage for up to 80% of the property value, monthly instalments of €954.94 and a total amount payable of €174.139,20
Representative example for a mortgage of €150,000 over 20 years: Mortgage for up to 50% of the property value, monthly instalments of €7341.21 and a total amount payable of €179,210.40. Mortgage for up to 70% of the property value, monthly instalments of €751.74 and a total amount payable of €183,417.60. Mortgage for up to 80% of the property value, monthly instalments of €758.83 and the total amount payable of €185,119.20
Representative example for a mortgage of €150,000 over 25 years: Mortgage for up to 50% of the property value, monthly instalments of €614.10 and a total amount payable of €187,980.00. Mortgage for up to 70% of the property value, monthly instalments of €632.14 and a total amount payable of €193,392.00. Mortgage for up to 80% of the property value, monthly instalments of €639.44 and a total amount payable of €195,582.00
Representative example for a mortgage of €150,000 over 30 years: Mortgage for up to 50% of the property value, monthly instalments of €538.81 and the total amount payable of €198,471.60. Mortgage for up to 70% of the property value, monthly instalments of €558.19 and a total amount payable of €205,448.40. Mortgage for up to 80% of the property value, monthly instalments of €565.75 and a total amount payable of €208,170.00
If the requirement in (1) is not met, the interest rate will vary according to the percentage of funding and the terms of the transaction. The APR has been calculated taking into account a mortgage loan transaction of €150,000 at 15, 20, 25 and 30 years to be repaid in 180, 240, 300 and 360 monthly instalments, respectively. The total amount payable given in the examples includes: principal, interest and insurance premium.
Example for a mortgage of €150,000 over 15 years: Up to 50% financing, the fixed rate 2.75% NIR(2.92% APR) would be applied with the exception of the first 3 months that the fixed rate 1.55% NIR (2.92% APR) would be applied, the first 3 monthly instalments of €934.49 and the rest of the instalments of €1,016.57 and the total amount payable of €184,986.36. Up to 70% financing, would apply the fixed rate of 2.95% NIR (3.13% APR) with the exception of the first 3 months that would apply the fixed rate 1.75% NIR(3.13% APR), 3 first monthly installments of € 948.09 and the remaining installments of € 1,030.90 and total amount payable of € 187,563.57. Up to 80% financing, would apply the fixed rate of 3.05% NIR(3.23% APR) except for the first 3 months that would apply the fixed rate 1.85% NIR(3.23% APR), 3 first monthly instalments of € 954.94 and the remainder of € 1,038.12 and total amount payable of € 188,862.06.
Example for a €150,000 mortgage over 20 years: Up to 50% financing, the fixed rate of 2.85% NIR(3.03% APR) would be applied with the exception of the first 3 months that the fixed rate 1.65% NIR(3.03% APR) would be applied, the first 3 monthly instalments of €734.21 and the rest of the instalments of €819.63 and the total amount payable of €199,454.94. Up to 70% financing would apply the fixed rate of 3.10% NIR (3.28% APR) with the exception of the first 3 months that would apply the fixed rate 1.90% NIR (3.28% APR), 3 first monthly instalments of 751.74 € and the rest of the instalments of 838.38 € and total amount payable of 203,951.28 €. Up to 80% financing, would apply the fixed rate of 3.20% NIR(3.38% APR) with the exception of the first 3 months that would apply the fixed rate 2.00% NIR (3.38% APR), 3 first monthly installments of € 758.83 and the remaining installments of € 845.94 and total amount payable of € 205,764.27.
Example for a €150,000 mortgage for 25 years. Up to 50% financing, the fixed rate of 2.90% NIR (3.08% APR) would be applied, except for the first 3 months that the fixed rate of 1.70% NIR (3.08% APR) would be applied, the first 3 monthly instalments of 614.10€ and the rest of the instalments of 702.69€ and the total amount payable of 214,291.23€. Up to 70% financing, would apply the fixed rate of 3.15% NIR (3.33% APR) except for the first 3 months that would apply the fixed rate 1.95% NIR (3.33% APR), 3 first monthly installments of € 632.14 and the rest of fees of € 722.22 and total amount payable of € 220,145.76. Up to 80% financing, would apply the fixed rate of 3.25% NIR (3.43% APR) except for the first 3 months that would apply the 2.05% TIN (3.43% APR), 3 first monthly installments of € 639.44 and the rest of fees of € 730.12 and total amount payable of € 222,513.96.
Example for a €150,000 mortgage for 30 years. Up to 50% financing, would apply the fixed rate of 2.99% NIR(3.17% APR) except for the first 3 months that would apply the fixed rate 1.79% NIR (3.17% APR), 3 first monthly instalments of 538.81 € and the remaining instalments of 630.87 € total amount payable of 231,337.02 €. Up to 70% financing, would apply the fixed rate of 3.25% NIR (3.43% APR) with the exception of the first 3 months that would apply the fixed rate 2.05% NIR (3.43% APR), 3 first monthly instalments of € 558.19 and the remaining instalments of € 652.08 and total amount payable of € 238,967.13. Up to 80% financing, would apply the fixed rate of 3.35% NIR (3.53% APR) with the exception of the first 3 months that would apply the fixed rate of 2.15% NIR (3.53% APR), 3 first monthly instalments of 565.75 € and the remaining instalments of 660.35 € and total amount payable of 241,942.20 €.
French repayment system: the amount of the instalment to be paid is the same during the life of the mortgage loan, unless early repayments are made. It is calculated using the interest rate and the remaining term until the final maturity of the transaction.
The interest part of the repayment amount is calculated by applying the corresponding monthly interest rate (NIR/12 months) to the outstanding loan amount. The capital repaid every month is calculated by subtracting the interest charged from the total monthly repayment amount.
French repayment system, whereby the loan principal and interest are repaid through regular scheduled monthly instalments, i.e. of the same amount, provided that the interest rate applicable during the settlement period does not change and no early repayments are made. Since interest accrues on the outstanding principal amount, as time passes the amount of the instalment used to repay the principal increases, while the interest payment portion will decrease, as the outstanding principal is reduced. If the interest rate applicable to the loan increases due to an interest rate adjustment, then the amount of the instalment payable shall be increased. If, on the other hand, the interest rate which is applied falls, the amount of the instalment shall decrease.
The following mathematical formula is used to determine the amount of each monthly instalment:
P= (i x c) x (1-(1+i)-^{n})^{-1}, where “p” is the instalment, “i” is the nominal annual interest rate divided by 12, “c” is the outstanding capital of the mortgage loan and “n” is the number of months of the repayment period outstanding.
We use the following formula to calculate the interest based on the outstanding capital: I= (i x c), where “I” is the interest, “i” is the nominal annual interest rate divided by 12 and “c” is the outstanding principal of the mortgage loan.
The amount repaid by customers is the instalment minus the interests.
The pre-approval will be issued assuming the veracity of the information provided to date and will be subject to a subsequent comprehensive risk analysis by Openbank's risk department, once the necessary information and supporting documentation have been obtained. Therefore, the pre-approval is indicative and does not in any case represent a binding offer or a confirmation of granting the mortgage loan. Consequently, Openbank shall not be liable if final denial of the mortgage loan application takes place or if the terms of a subsequent Binding Offer differ from those described based on market conditions or the obtaining of additional information on the applicant's preferences and financial conditions; thus the applicant, or any other addressees, must take all necessary precautions before using the information contained in the pre-approval letter, which they use at their own risk.