Mortgage simulator Calculate your mortgage fee
To calculate the monthly fee you have to pay when requesting a mortgage loan, you must first know a series of data that will be requested to start the mortgage simulator, such as the interest rate applied and the repayment term. In the event that the interest rate is modified throughout the life of the loan, you will also have to provide the new installment to be paid. An explanation over at wonderfactory.org
How to calculate the mortgage and your monthly installment
Can I pay the mortgage I’m looking for?
To calculate the mortgage, the most important thing is to find out the fee that I will have to pay each month to, in this way, know if I will be able to face each of the payments.
Leaving mortgage simulators aside for a moment or the use of mathematical formulas, the first thing you have to do is decide with which bank or lender you are going to do it. Ideally, work with your “usual” bank, since it is the one that in theory will best treat you and offer you “client” conditions. If you cannot (or are not interested in) signing the mortgage with your bank, you may have to go to other banks to apply for your mortgage loan in search of less demanding conditions.
The problem in these cases is that these banks do not know you, and, therefore, they ask you for a thousand and one guarantees, guarantees from your family, and sometimes it seems that they do not lend you the money unless you already have the money!
Another alternative is to go to private equity companies, which of course will also worry about finding out if you are going to be able to repay your mortgage loan, but many times they are more flexible and quick to grant it to you.
In we meet several companies of this type. Therefore, if you want to see the credit institutions that can offer you solutions in this area, go to our lenders page and choose the one that best suits your needs and requirements.
To know the amount you can pay based on your income, you need to calculate the monthly mortgage loan fee
For this, we recommend you go directly to the Bank of Spain, which offers a calculator that allows you to calculate the mortgage and its fee based on the interest that the bank or the lender offers you. Here you have it