Euribor Mortgage Calculator 2026
With the 12-month Euribor at 2.318% (April 2026), a variable-rate mortgage of €150,000 over 25 years with a 0.99% spread has a monthly payment of approximately €669. If the Euribor rises 1 point (to 3.318%), the payment would increase to about €737 (+€68/month). This simulator uses the Euribor updated monthly from EMMI (European Money Markets Institute) and calculates the standard French amortization used by Spanish banks.
Frequently Asked Questions
What is the Euribor and how does it affect my mortgage?
The Euribor (Euro Interbank Offered Rate) is the interest rate at which major European banks lend money to each other. It is published daily by EMMI (European Money Markets Institute). In Spanish variable-rate mortgages, the payment is calculated as Euribor + spread. The 12-month Euribor is most commonly used for annual mortgage reviews. If the Euribor rises, your payment rises; if it falls, your payment falls.
What is a normal spread for a variable mortgage in Spain?
In 2026, typical spreads in Spain range from 0.49% to 1.50% above the Euribor. A 0.99% spread is considered standard for a creditworthy borrower. Online banks often offer lower spreads (0.49%-0.79%) in exchange for bundled products (direct deposit, insurance). Always compare the APR (TAE), not just the spread, as it includes fees and bundled products.
When is a variable mortgage payment reviewed?
Most variable-rate mortgages in Spain are reviewed every 12 months (annual review) or every 6 months (semi-annual review), as stated in the mortgage deed. During the review, the Euribor value from the month prior to the review month is used. If your mortgage reviews in July, the June Euribor is applied. The new payment remains until the next review.
Is a fixed, variable, or mixed mortgage better?
It depends on your profile and interest rate expectations. Variable mortgages offer lower initial payments but with upside risk. Fixed rates provide stability but usually start higher. Mixed mortgages combine both: a fixed rate for the first years (typically 3-10 years) then variable. If the Euribor is low and you expect increases, a fixed or mixed rate may protect you. If the Euribor is high and you expect decreases, variable will benefit you more.
What additional costs does a mortgage have in Spain?
Beyond the monthly payment, a mortgage in Spain includes: property appraisal (€300-600), notary fees (€600-1,200), agency fees (€300-500), Land Registry inscription (€400-700), and the Tax on Documented Legal Acts (IAJD) which the bank pays since Law 5/2019. Home and life insurance are also typically required. Total costs represent approximately 2-3% of the mortgage amount.