A mortgage calculator is a financial calculation tool that lets you estimate the approximate monthly loan payments and the amount you could request to finance the purchase of a home.

The BBVA mortgage loan calculator also offers extra information that might interest you, such as an approximate calculation of the expenses associated with the purchase of your home, like management costs, the notary, taxes, etc.

The calculator will ask you for some details for its calculations and to determine the estimated financial conditions and the approximate mortgage loan payment you would have to make each month.

The variables the calculator uses to calculate a mortgage online are the amount of the mortgage loan (amount that the bank will lend you based on the price of the home), the term and the interest rate.

You can do all the simulations of mortgage payments you want with no obligation, with no documents up-front and free of charge.

The results shown by the calculator are only an indicative estimate and are not binding; each application will be assessed in detail in order to be approved.

A discounted interest rate on a mortgage loan is a benefit that usually involves paying a lower interest rate than that agreed, due to taking out other products or services (direct deposited salary, insurance, etc.) from the same bank, as long as the agreed conditions for applying this discount are met. If the borrower fails to comply with said conditions, the discount will be nullified.

The amount of the interest rate discount on a mortgage loan will depend on the conditions and limits established by the Bank, as well as on the type and number of products or services that are taken out. To find out more about how it works, we recommend contacting the bank.

To reduce the interest rate of your BBVA mortgage, you can take out the following additional products.

With Discount A, you can benefit from a 0.5% discount on the interest rate if you take out and maintain the following products with BBVA:

• Salary of over €600 or pension of over €300. If you are self-employed, you just have to direct deposit your Social Security self-employment payment (not including the direct deposit of mutual fund payments or other social welfare systems).
• BBVA Allianz Seguros Comprehensive Home Insurance policy in force and its payments up to date.

With Discount B, you can benefit from a 0.5% discount on the interest rate if you take out the following product with BBVA:

• Loan repayment insurance with BBVA Seguros. The contract must cover at least half of the mortgage amount. If the 50% exceeds €150,000, this amount is enough.

If you meet the conditions of Discount A and Discount B, both are added together and you will obtain a total discount of 1% on your mortgage's interest rate.

Remember that the insurance policies are subject to approval by BBVA Allianz Seguros and BBVA Seguros. The products taken out from BBVA will be reviewed annually for the duration of the loan. To be eligible for the discount, you must also stay up to date with your payments and not have any outstanding debts with the Bank.

For insurance companies

• BBVASEGUROS, S.A., de Seguros y Reaseguros, listed in the Register of the Directorate-General for Insurance and Pension Funds under code C-502.
• BBVA ALLIANZ SEGUROS Y REASEGUROS, S.A., listed in the Register of the Directorate-General for Insurance and Pension Funds under reference C0807.
• Broker: BBVA MEDIACIÓN, OPERADOR DE BANCA-SEGUROS VINCULADO, S.A., listed in the Special Administrative Register of Insurance Brokers of the Directorate-General for Insurance and Pension Funds under registration number OV-0060. With liability insurance arranged and sufficient financial resources.

If your mortgage has a variable rate, it is very likely that the reference rate will be the one-year Euribor. The Euribor directly influences the amount of your monthly payment. This rate is used as a reference to calculate the interest rate applicable to your mortgage (usually Euribor + an agreed differential).

When the Euribor rises, the interest rate on your mortgage also increases in the corresponding review, and therefore your monthly payment will be higher. Conversely, if the Euribor drops, your payment will be reduced in the next interest rate review.

The exact impact on the monthly payment will depend on the outstanding principal and the variation in the reference rate.

The NIR (Nominal Interest Rate) is the fixed or variable percentage that is applied to the borrowed capital to calculate the interest on your mortgage. In other words, it indicates how much you pay for the money the bank lends you, but it does not include other expenses or fees.

The APR (Annual Percentage Rate) reflects the total cost of the mortgage in one year, as it includes not only the NIR, but also fees and other associated expenses. Therefore, the APR is the most useful indicator for comparing different mortgage offers, as it shows in further detail how much the mortgage will actually cost you.