How to calculate my mortgage fee

When you want to calculate the rate of your mortgage, the first thing is to know what type of mortgage you have, whether at a fixed rate or a variable rate. Fixed rate mortgages are those whose interest and monthly installment are the same throughout the life of the mortgage loan. Variable rate mortgages are characterized because the mortgage rate varies every 6 or 12 months. This occurs because the interest is calculated from a reference rate plus a differential (for example, euribor + 0.50). As the value of the reference rate is variable, periodically (semi-annually or annually) the entity makes a revision of the interest rate (which increases or decreases depending on the value that is taken from the index) and depending on the new interest rate is calculated a new monthly fee.

If we want to know the value of the mortgage payment that we will have to pay, we must follow the steps indicated below.

Steps to follow:


Choose a tool to calculate mortgages. On the Internet you have different tools to calculate the mortgage as simulators and calculators. You must choose one of them, preferably the calculator to calculate the quota.


Once you have the mortgage calculator you must indicate the amount of the debt that you have left to pay.


Then enter the number of years and / or months left to finish the mortgage.


Then indicate the interest rate. If it is fixed, put the interest that applies to you and if it is variable, you can indicate the reference rate and the applied differential.


Once you have inserted the necessary data, click on calculate to obtain the value of the fee that you will pay during the following 6 or 12 months.

  • It is important to bear in mind that there are advanced calculators that also take into account grace periods, different future scenarios of variable interest and / or early repayments.
  • Mortgage simulators can also be used, which calculate the fee simply.