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.

To calculate the variable-rate or fixed-rate mortgage payment and get an instant estimate of how much you would have to pay for the mortgage loan, we will ask you for information on a home with characteristics similar to the one you want to buy (price, what province it is located in, if it will be your primary residence and if it is a new or existing home) and details on the mortgage loan (how much you need and the duration of the mortgage).

In order to calculate the monthly mortgage payment, you must have the following information: the amount, the repayment period, and the interest rate (fixed or variable), in addition to the city where the property is located. With this information, and thanks to the BBVA mortgage loan calculator, you will be able to obtain the monthly mortgage payment quickly and easily.

The BBVA mortgage calculator is useful for finding out the estimated expenses and taxes associated with the purchase (notary, registry, processing and taxes) and the mortgage (appraisal), which will help you determine how much money you need to buy the house.

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

Thanks to the BBVA mortgage loan calculator, you can quickly and easily calculate your mortgage payment and interest free-of-charge. You can discover which option best suits your needs, by comparing BBVA variable-rate and fixed-rate mortgages, calculating the expenses and interest on the mortgages in a single calculation and knowing the different approximate monthly payments for each mortgage loan.

The repayment term of a mortgage loan varies depending on the type of mortgage. While the maximum term for paying a Fixed-Rate Mortgage is 30 years, the term for a Variable Rate Mortgage rises to 40 years (provided that certain conditions are met). In both cases, the minimum term for paying off the mortgage loan will be 10 years.

Bear in mind that the sum of the term and the age of the youngest account holder with income cannot exceed 70 years.

To apply for a mortgage (fixed-rate or variable-rate) for a house or apartment that will be your main residence, you must follow these steps:

1. Complete the application with your personal and financial details.
2. Select if you are going to add other BBVA products to lower your monthly payment.
3. An adviser will contact you to answer any questions and let you know what documents you need to provide to evaluate your mortgage application.
4. We will analyze the documents to determine the viability of the mortgage.
5. If everything checks out, the next step will be to appraise the property.
6. If the mortgage is approved for the home, all that is left is to sign the documents in the presence of a notary.