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UPDATED ✅ Do you want to simulate the interest and payments that you will have to make on a mortgage? ⭐ ENTER HERE ⭐ and get to know the best websites
The first steps to buy a house or apartment are the easiest, it’s just a matter of going through the different properties until you find the one you like the most. After this, it is when the difficult part begins, which is to do the calculations to determine if it is possible to pay it.
For this process, it is necessary to have a method at hand to guide you, and for this, you can use the mortgage simulatorsvery useful methods to estimate the value of the monthly installment for the payment of a property.
Next, we present a list with some of the best mortgage simulator websiteswhich you can use to make an approximate calculation of your monthly installments.
What is a mortgage simulator?
For people versed in real estate, is one of the most useful tools that you can have access to for free. It is a financial calculation tool that allows its users to obtain approximate figures of loan installmentsinterest and capital of a loan requested for the purchase of a home.
Although it may be useful to obtain guidance on the mortgage procedure, it is necessary to highlight that a simulator does not offer exact figures and the results omit certain expenses inherent to the mortgage applicationso they should only be used for guidance purposes.
Best websites to calculate a mortgage
As usual, the best web pages to make a mortgage calculation are the web portals of the bankswhich offer mortgage simulators that offer more or less accurate results, depending on the data you enter.
In addition, it is possible to find some other pages dedicated to simulating mortgages:
ING.es
It is one of the most complete simulators that you can find provided by a bank, which offers a variety of possibilities according to the data you enter and the type of mortgage you want to opt for.
It will allow you to perform the calculation for variable, fixed or mixed mortgages, allowing you to calculate the debt that you will have to pay in each of these cases, with it it is possible to make changes such as the interest rate and the years to pay. Also, ING bank is characterized by its considerable number of offers and promotionswhich will give you the possibility of obtaining an advantage in the form of a saving or charitable offer.
BBVA.es
Being one of the banks that has invested the most in its platform and online services to reach its customers more easily, It is to be hoped that it has a very complete mortgage simulator.
To make the calculation as accurate as possible, it will request data such as the status of the home, buyer’s budget, location of the property, the years to pay and net income of the owners. It is one of the most intuitive simulators that you can find, has a simple and visually appealing interfacewhich makes it one of the best options to carry out this type of operation.
CaixaBank.es
The interface design of the CaixaBank mortgage simulator is one of the cleanest and most direct, to the point of minimalism. It basically requests the same data as other simulators: status of the home, exact location, age and budget of the owners, years to pay the debt and other data. Once the data has been entered, the calculation will give you the installments to pay and will give additional information about the options that the bank can offer you from among the products that fit the simulator search.
BancSabadell.com
The Banco Sabadell’s web portal has a large number of tools and services to offer its customers, among which its mortgage simulator stands out, which you can access from the sidebar, in the section “Financing”.
Once there, you can select the type of mortgage to carry out the simulation, giving you the choice between variable mortgage or fixed mortgage, and offering you the data and interest rates provided by the bank, for which you only have to enter the information requested to know your monthly fee. Also, at the bottom of the site, you can find a step-by-step guide on how to carry out the simulation and the procedure to request the mortgage in case the result of the simulation convinces you of it.
Spanish Mortgage Association
The mortgage simulator of the Spanish Mortgage Association is one of the simplest and most accurate, although it still has its margin of error. this simulator will allow the user to make an approximate calculation of the conditions of their mortgage loanfrom the comparison of several similar products to the estimation of monthly installments.
The focus of this simulator is on know the installments that can be paid as a result of a variable interest mortgageso that you can know the impact that the variation that interest rates will have on the installment to be paid over time.
idealista.com
If you are looking to acquire a home of any kind, Idealista It is one of the best options for which you can opt, since it has a very complete mortgage simulator that will allow you to obtain an approximate result of your installments to be paid, whether fixed or variable. Nevertheless, One of its most outstanding features is that it gives you access to an extensive list of houses and flats for sale.which is constantly updated so that you have the required information.
tracker.com
This type of website is slightly different from bank mortgage simulators, since instead of giving you the monthly fee directly, it offers you a list of banking entities that offer mortgages that adapt to your search.
Although its basic operation is similar to that of any other simulator, with spaces that you must fill in with the requested data, the difference is that it offers you a wide variety of options to compare and make the decision that suits you best. If there is one downside to mention about tracker sites, it is that most of them require registration in order to provide you with results, even calling you on the phone in some cases.
Bank of Spain
The design of the Banco de España mortgage simulator is simple and to the point. It does not request unnecessary data, it focuses on the most relevant information: initial capital, type and percentage of interest, amortization period and changes in the interest rate depending on whether it is fixed or variable interest. Then, all you have to do is press calculate and you will get an approximate figure of the installment to be paid on a mortgage loan, as well as the installments that may arise as a result of a variation in the interest rate.
BancoSantander.es
Santander Bank offers a platform to simulate a mortgage that will allow you to calculate its installment either for fixed or variable term loans, so that you can have a solid base to make accounts for the budget of the purchase of your home.
Its design is very simple, requesting data such as the price of the home, the use that will be given to it, its statusthe owner’s income and the locality where said income is generated, so it calculates the monthly installment of your mortgage and the expenses associated with it.
How do I know if a mortgage is right for me or not?
Nowadays, The mortgage is the most used and fastest method to obtain the financing required to acquire a home., however, it is necessary to take into account certain points to determine if it is the most convenient option. For it, the use of these simulators is quite a considerable helpsince although they offer a 100% exact figure, it allows you to have an idea about the fees, with which you can determine your ability to pay them.
Acquiring a mortgage is very beneficial as long as you meet certain requirements. To get started, it is necessary that the payment period is not too long even if this implies higher fees, since a lower monthly payment implies a much higher total payment.
In addition, it is a very significant debt and one that must be carefully considered, since it will take between 20 and 30 years to pay it off. Basically, the results of the installments that you obtain in the simulation are not sustainable in a maximum period of 35 years, it is not convenient to acquire a mortgage.
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