These simulators will help you better understand your loan

When it comes to wanting to apply for a mortgage, there are many doubts that can end up arising. And they are completely normal, since it is a commitment that is reached with a bank for many years and with great conditions behind it. Before signing this type of mortgage contract, it is important to read everything well and be clear about the conditions which you are facing.

In order to achieve exactly this, there are numerous simulators on the net that will allow you to enter the mortgage data for later know the final installment, the amortization period, among many other data. The goal is for you to know what you are dealing with.

Using a mortgage simulator

The first calculator is fully accessible through the website of the Spanish Mortgage Association (AHE) and has a very attractive interface. It allows estimates to be made about the term, amount, interest rate and monthly installment to be paid on the loan. That is why as soon as you enter you will be able to find the four variables with completely empty boxes.

In order to give a result, you will have to indicate the values ​​for three of the four simulator variables. Finally, you will leave blank only the variable that you want to know. For that, you will have to click on the button corresponding to this one that is on the right side.


In the amortization term variable, you do not need to include an exact date. You will simply have to select if you want to express it in months or years, and enter the number of installments. If we talk about the term, you will choose if you want a fixed or variable interest. Regarding this value, it must be taken into account that if it is variable will be able to fluctuate quite a bit with respect to the economyso you should exhaustively consult what is the limit that can be presented.

The example that can be given is to have an amount to be financed of 100,000 euros over 30 years with an interest rate of 6%. With these data when clicking on the final box Calculate Fee, and you will see what you are going to have to pay month by month. Although this is something that can be done with the rest of the variables.


Bank of Spain mortgage simulator

The Bank of Spain is the largest regulator in the country when it comes to setting the conditions of a mortgage. It is above all Spanish banks and is the one who provides guarantees that the entire procedure is carried out in accordance with the legislation. And that is why it also has a simulator so that anyone interested can carry out a simulation of all the data that you are going to have to know.

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To use this simulator, you will have to access the Banco de España website. Next, you will see an explanation of the simulation process that you are going to start with relevant information such as the data that will end up being calculated. You just have to click on go to the simulator.

Lend Lease
Lend Lease

In this case, the simulator will only allow you to calculate the monthly payment that you will have to pay. You just have to enter the initial capital, the interest rate and also the repayment terms (in months or years). Likewise, if you have doubts about what to enter in each box, you will have a question section on the right side of each of these.


Once you have entered these data, you will have to click on Calculate, and the monthly payment will automatically appear on the right. But the really interesting thing is that you can find a button called compare loan. In this you will be able to enter data from other loans for which you have a proposal made, in order to compare the monthly payment of each one of them and also the amortization time. In this way you will be able to know the data with certainty to choose wisely.