Discover your future payment with the mortgage calculator

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The mortgage calculator is a great way to see your future mortgage payment or how it would change if you are interested in doing a subrogation or novation. It is a very useful and easy-to-use tool, since you will have the result in just one click. But, to obtain the most reliable result possible, you will have to know how to use it correctly. In today's article we will talk about how mortgage calculators work and how to get the most out of them. Let's go there!


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How much do I have to pay to take out a mortgage?
Before using a mortgage calculator, it's important to know what you have to pay and how applying for a mortgage works . In a mortgage loan, you not only have to consider the monthly payments, you will also have to see the expenses of the purchase and sale, how much financing they offer you and if there are linked products.

Monthly fees. They will depend on the interest rate (variable or fixed), the Chinese Overseas America Number Data repayment period and the amount of the loan.
Purchase and mortgage expenses. Here you are in luck, before the sum of both was 20% of the price of the property, but in recent years many changes have been decreed in the payment of Mortgage expenses . Currently, we will only have to pay the appraisal, which is around €300, and the purchase and sale expenses, which represent 10-12% of the price of the property.
Loan amount. The most common thing is that the bank grants loans for a maximum of 80% of the appraisal, that is, we will have to pay the remaining 20% ​​from our savings at the time of accepting the mortgage. If you have a good profile or the help of mortgage brokers , they can help you negotiate the mortgage up to 100%.
Linked products. After the New Mortgage Law, a bank cannot force you to contract linked products to grant you the mortgage, but they can offer them to you to improve the conditions. If you accept them, you will have to add it to the cost involved, we are talking about: home insurance, life insurance, credit cards...
Hey! In the video below you can see some representative examples of mortgage payments if you buy a home and finance 85%:





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What information do you need to use the mortgage calculator?
In order to use the mortgage calculator, you must have an idea of ​​what you are looking for and the approximate price of the property. Let's remember that a calculator or a mortgage simulator will always give you an approximate result, it does not offer guarantees that it is the installment or mortgage that you are going to get.