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Mortgage calculator for non-residents buying in Spain
Standard mortgage calculators assume 80% financing — which does not apply to non-residents. This guide shows you how to calculate your real numbers using our tools, adjusted for non-resident LTV limits (60-70%), higher rates, and the additional costs foreign buyers face.
The essentials
5 min full read- 1Non-residents typically finance 60-70% max — adjust your calculator inputs accordingly
- 2Use a rate of 2.8-3.5% (fixed) or Euríbor + 0.80-1.20% (variable) for realistic estimates
- 3Remember to add 10-15% of property price for taxes and fees
- 4Your mortgage payment should not exceed 35% of your net monthly income
Buying property in Spain as a non-resident?
We compare 54 Spanish banks for foreign buyers. Free assessment in 24-48h, all in English. Bank of Spain reg. nº E569.
How to calculate your non-resident mortgage
Use our mortgage simulator with these non-resident-adjusted inputs:
- •Property price: Enter the full asking price
- •Savings/deposit: Enter at least 30-40% of the property price (your deposit) plus 10-15% for costs
- •Interest rate: Use 3.0% for a conservative fixed-rate estimate, or Euríbor (currently 2.22%) + 1.0% for variable
- •Term: Use 20 years (most common for non-residents) rather than 25-30
- •Type: Fixed is recommended for non-residents with non-euro income for payment certainty
Example calculations for common scenarios
Here are three realistic scenarios for non-resident buyers at current market conditions:
| Scenario | Property | Deposit (35%) | Mortgage | Rate | Term | Monthly payment |
|---|---|---|---|---|---|---|
| Holiday apartment | €200,000 | €70,000 | €130,000 | 3.0% fixed | 20 years | €721 |
| Family villa | €400,000 | €140,000 | €260,000 | 2.9% fixed | 25 years | €1,217 |
| Investment flat | €150,000 | €60,000 | €90,000 | E+1.0% (3.22%) | 15 years | €636 |
Holiday apartment
€200,000
€70,000
€130,000
3.0% fixed
20 years
€721
Family villa
€400,000
€140,000
€260,000
2.9% fixed
25 years
€1,217
Investment flat
€150,000
€60,000
€90,000
E+1.0% (3.22%)
15 years
€636
Don't forget the total costYour monthly payment is just one part. Add annual property tax (IBI), community fees, insurance and maintenance. For a typical apartment, budget €200-€400/month on top of the mortgage for these running costs.
The 35% rule: can you afford it?
Spanish banks apply a strict debt-to-income ratio: your total monthly debt payments (including the new mortgage plus any existing loans in your home country) must not exceed 35% of your net monthly income.
For example, if your household net income is €5,000/month, your maximum total debt payment is €1,750. If you already pay €500/month on a car loan, the maximum mortgage payment the bank will approve is €1,250.
Use our affordability calculator to check how much you can borrow. Remember to set the interest rate to non-resident levels (3.0-3.5%) for accurate results.
Total cash you need: the real number
The question is not just 'Can I afford the monthly payment?' but 'Do I have enough cash upfront?' Here is the formula:
- •Deposit: 30-40% of property price (what the bank does not finance)
- •Taxes: 6-10% of property price (ITP or VAT+AJD)
- •Fees: 2-3% of property price (notary, registry, lawyer, valuation)
- •Buffer: 2-3% for unexpected costs, translations, travel
- •Total cash needed: approximately 42-55% of the property price
Quick rule of thumbFor a €300,000 property, a non-resident needs approximately €130,000-€165,000 in cash. The rest (€135,000-€170,000) is financed by the mortgage.
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Frequently asked questions
Can I use rental income to qualify for a Spanish mortgage?
Generally no. Spanish banks base their affordability assessment on your current verified income (salary, pension, business income), not on projected rental income from the property you are buying. Some banks may consider existing rental income from other properties.
Does the currency of my income affect how much I can borrow?
Indirectly, yes. Banks may apply a currency risk buffer (typically 10-20%) when your income is in a volatile currency relative to the euro. This effectively reduces the amount you can borrow compared to someone with euro-denominated income.
Can I get a mortgage pre-approval before finding a property?
Yes, and it is highly recommended. A pre-approval gives you a clear budget, shows sellers you are a serious buyer, and speeds up the process once you find the right property. Pre-approvals are typically valid for 3-6 months.
Useful tools
Mortgage Simulator
Calculate your monthly payment, borrowing capacity and early repayment
Open tool⚖️Mortgage Comparator
Compare offers by rate type, term, fees and conditions
Open tool🏠What home can I afford?
Maximum property price based on your income, savings and region
Open tool✅Will I get approved?
Quick test to estimate your mortgage approval probability
Open tool📊Mortgage Calculator 360
Payment, affordability, rate comparison and amortisation
Open tool🗺️Tax & Cost Simulator
Calculate taxes and costs by region (comunidad autónoma)
Open tool📈Euribor Today
Current Euribor rate, chart and impact on your mortgage
Open tool🔄Rate Review Calculator
Calculate your new payment at your next mortgage review
Open tool🏦Subrogation Calculator
Simulate 3 bank-switch scenarios: monthly savings, total savings and break-even
Open toolNeed guidance on your non-resident mortgage?
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About this content
Mortgage Content Editor
Published: junio 2026
Last updated: junio 2026
This page is informational and editorial in nature. It explains how the described mortgage conditions typically work and what to review, without guaranteeing results or replacing a lender’s assessment.