Which home can I afford with my salary?
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tailored to your salary
tailored to your salary
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or are ready to take the next step, we can help you calculate which home you can afford and tell you about our mortgages. Learn from the experiences of others or customise your own journey to home ownership.
Carlos
María
Lucía and Alberto
Simulator
Examples of what kind of home you can afford
Carlos
Carlos, 31-years old, wants to become independent and is considering buying his first home.
Thirty-one-year-old Carlos wants to buy his first home and is exploring his mortgage options. Having saved €25,000, he is looking to finance 80% of the property's value with a 30-year mortgage. Bearing in mind that he needs to factor in at least an additional 10% for the expenses associated with the purchase, he calculates that he can aim for a home worth approximately €125,000.
María
After several years of renting, María has decided to buy her own home.
Over the years, she has saved €32,000, enough to make a down payment, and she is ready to say goodbye to renting.
Her goal is to find a property that comes within her
budget and meets her needs, making sure that the mortgage instalment does not compromise her financial stability, so she wants to spend a maximum of €550 a month. María is excited about this new stage and the possibility of building a future in her own home.
Lucía and Alberto
Newly-weds Lucía and Alberto are excited to start their life together and are looking for a new home where they can start a family.
They have a combined savings of €77,000 and a shared vision, and are ready to leave their current homes behind and settle in a place that reflects this new chapter in their lives. Both are civil servants with a salary of €2,550, so they are looking for a house that not
only suits their current needs, but is also a space where they can create memories and grow as a couple. Their goal is to keep their mortgage payments to no more than €1,100. With each visit to a property, their excitement grows at the possibility of finding
a home filled with love and happiness.
Simulate your mortgage with Banco Sabadell now and discover your personalised repayment plan1
Shall we help you calculate the type of mortgage, the expenses and how much money we could lend you? Start by choosing where you are in the process:
Have you now found the house you want?
The result of this simulation will be advertising and indicative based on provisional data. To prepare it, we will base ourselves on current market conditions and on the data that you provide us through the next screens. If you want to apply for a mortgage once you see the result of your simulation, you should contact us for more information and receive your personalized offer.
The granting of the loan, its amount and the repayment period for each transaction requested will be subject to the bank’s risk analysis.
The granting of the loan, its amount and the repayment period for each transaction requested will be subject to the bank’s risk analysis.
Tips for buying
Tips for finding out how much you can afford to spend on a house
- Set a budget for the deposit.
- Factor in additional expenses and taxes. In addition to the deposit, bear in mind costs such as taxes, notary, registration and agency fees.
- Plan for the long term. Keep in mind factors such as family growth, how the area will develop and possible changes to your income.
- Evaluate the pros and cons of newly built vs. second-hand housing.
- Research the area. Look at aspects such as transport links, access to services, the quality of schools and proximity to work, among others.
- Make sure you have sufficient income and job stability.
- Research the different types of mortgages and decide which one is best for you.
Take out your mortgage in just 4 steps
Once your application has been reviewed and approved, you will be able to sign the mortgage contract and the deed before a notary.
Discover Banco Sabadell mortgage loans
Fixed-rate Mortgage
With the peace of mind of knowing that you will pay the same instalment every month.
Find out more
Variable-rate mortgage
With a monthly instalment that is linked to the evolution of the market.
Find out more
Mixed mortgage
Unaffected by changes at the beginning, but flexible to adapt to the market afterwards.
Green Mortgage
Build or energy renovate your first or second home.
Self-promotion Mortgage
Draw down funds from your loan as your home progresses
Non-resident Mortgage
For those living abroad and wanting to buy a second home.
We answer your most frequently asked questions
What is the Euribor and what is it used for?
The Euribor (Euro Interbank Offered Rate) is the average interest rate at which major banks in the eurozone lend money to one another. Its primary role is to serve as a benchmark for a wide range of financial products. In Spain, it is particulary important because it is commonly used to determine the interest rates applied to variable rate and mixed-rate mortgages.
What types of Euribor are there according to the calculation period?
The Euribor is calculated for several different maturities, with the most common being one week, one month, three months, six months, and twelve months. In Spain, the 12-month Euribor is the most commonly used benchmark for the annaul review of mortgage payments.
Why does the Euribor rise and fall? What factors influence it?
The Euribor is closely influenced by the monetary policy decisions of the European Central Bank (ECB). In general, Euribor rates tend to rise when the ECB increases interest rates to curb inflation. Conversely, they usually fall when te ECB lowers rates to encourage borrowing, investment, and economic growth.
What other mortgage reference indices exist?
In addition to the Euribor, the most widely used benchmark, there are other reference indices, such as the IRPH (Mortgage Loan Reference Index), which is used in some mortgages in Spain.
What has been the highest Euribor level recorded? And the lowest?
The Euribor reached its all-time high in July 2008, when it climbed to 5.393%, coinciding with the onset of the global financial crisis.
At the other extreme, its record low occurred in January 2021, when it fell to -0.505% amid the European Central Bank's negative interest rate policy designed to support economic activity.
At the other extreme, its record low occurred in January 2021, when it fell to -0.505% amid the European Central Bank's negative interest rate policy designed to support economic activity.
What is the difference between the Euribor and the mortgage spread?
The interest rate on a variable-rate mortgage is made up of two components: the Euribor, which is the variable part and is updated at each review period, and the spread, which is a fixed percentage added to it. The spread is agreed with the bank when the mortgage is signed and remains unchanged throughout the life of the loan.
How does the rise or fall of the Euribor affect my mortgage payment?
If you have a variable-rate or mixed-rate mortgage linked to the Euribor, your monthly payment is periodically reviewed, typically every six or twelve months. If at the time of the review the value of the Euribor has risen compared to the previous review, your monthly mortgage payment will increase. If it has gone down, your mortgage payment will decrease.
If you have any questions, you can contact Banco Sabadell on freephone900 700 010 .
If you have any questions, you can contact Banco Sabadell on freephone
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1 The personalised price included in this assessment is neither binding nor a substitute for the European Standardised Information Sheet (ESIS).