Mortage 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.

Any person who meets the following requirements:

• A resident in Spain.
• Of legal age, but currently under the age of 75, plus the time period requested for the mortgage.
• To prove fixed income from a job as an employee, self-employed person or from a pension held by of either mortgage holder.

• We examine your application without study charges and without you having to open an Openbank account until you decide to sign your mortgage.
• You will have a personal adviser who will keep you informed, at all times, about the status of your application until it is signed.
• In addition, if you enter into the mortgage with us, you recover the expenses of the valuation and the land registry extract as long as you have applied for it through Openbank.

• Open Fixed Mortgage: the peace of mind of always paying the same.
• Open Variable Mortgage: adapted to Euribor. During the variable interest rate application period, the amount of your repayment may increase or decrease.
• Open Mixed Mortgage: you will pay the same for an agreed period of time and then adapt to the Euribor.

Calculate your payments online and discover how much your Open Mortgage payments would be for any of the available options.

Repayment of your Open Fixed Mortgage will always be the same. It doesn’t matter if the Euribor increases or decreases because the interest rate is the same throughout your mortgage period.

After the first year, the interest rate of the Open Variable Mortgage will be reviewed every six months depending on the Euribor applicable at the time of revision, therefore the repayment may increase or decrease depending on what happens to the index.

Yes, the Euribor can affect the repayment of an Open Mixed Mortgage, only during the variable period. For the first 10 years, the interest rate is fixed and the repayment is always the same. After the first 10 years, the Open Mixed Mortgage will be reviewed on an annual basis and your repayment will be updated according to the Euribor applicable at the time of revision plus the spread you have signed.

There are a number of non-mortgage related charges you must consider when buying your new home.

If you want to know the approximate purchase and sale charges, use the calculator by entering the following details: 

• If you are buying a first or second home.
• If the property is new or second hand.
• The autonomous community in which it is located.
• The property price without tax.
• The money you want to apply for in your mortgage agreement.
• The time you wish to take to repay it.

Once these details have been entered, press “Calculate” and click the “View APR charges and conditions” option to find out the estimated purchase and sale charges.

Furthermore, you can check whether, if you take the mortgage out with us, you will recover the expenses of the valuation and the land registry extract, as long as you have applied for it through Openbank. The completion of a valuation is a requirement to take out a mortgage with any bank.

Of course, before you sign the mortgage, the administrative office will provide a detailed breakdown of all the fees for your new home. However, to start familiarising yourself with the terms of the charges associated with the purchase of a house, we provide you with additional information:

Charges associated with a purchase and sale deed that you must take on:

• Property Registry: the charges associated with putting the house that you have purchased in your name.
• Notary: the charges for the public deed related to the purchase of the property.
• Administrative office: the administrative office fees for arranging the purchase and sale signature.
• LDA or Legal Documented Acts: this is a tax payable on the purchase and sale price of the property. Its amount varies according to the autonomous community.
• VAT or IGIC/ITP: if the property you purchase is new you’ll have to pay VAT (or IGIC, if you live in the Canary Islands) and if it is second hand, you will pay the Impuesto de Transmisiones Patrimoniales (ITP) [Spanish Tax on Property Transfers].

Charges associated with arranging the Open mortgage:

• Arrangement fee: 0%
• Charges currently associated with arranging the Open mortgage: Registration, Notary, Administrative office and Tax are assumed by the bank in accordance with applicable regulations. Below you can see the breakdown:
• Property Registry: 0 Euros
• Notary: 0 Euros
• Administrative office: 0 Euros
• Legal Documented Acts (LDA): 0 Euros
• Valuation and land registry extract expenses will be assumed by Openbank in the event that the valuation is requested through Openbank and you arrange the mortgage with us.

Very easy and fast. Request your Open Mortgage anytime, via the website, with minimal details and no need to open an account until your mortgage is approved.

In addition, you will have a personal adviser who will track the entire process, from your mortgage application to the signature, and who you can consult with regarding any queries.

There may be up to two mortgage holders.

The minimum amount for the Open Mortgage is €30,000 and the maximum amount is €3,000,000.

However, please note that you can request a maximum of 80% for a main residence and 70% for a second residence below the following values:

• Valuation price.
• Purchase and sale price.