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Mortgage and rental yield calculator for Spain

Estimate your financing, the cash you need to buy and the real yield of a property in Spain. The calculations include purchase costs, your resident or non-resident status, running costs, the mortgage and rental income tax.

Calculate my financing Calculate my yield

Calculator 1

Spain mortgage calculator

Estimate how much you can borrow, your monthly payment and the total cash you need to buy.

In Spain, the amount a bank lends depends on your profile and on the value it uses for the property. The calculator estimates your monthly payment, your deposit and the main purchase costs for each autonomous community. To go further, see our guides on property purchase taxes and costs in Spain and mortgages for non-residents.

The property

Property priceAgreed price, excluding costs

€

Property type

Autonomous community

Purchase taxITP 7%, Andalusia

Estimated general rate for the region and price. Change it if a reduced rate applies to you.

Notary, land registry, gestoríaTypically 1 to 2%

The financing

Your profileChanges the bank’s lending limit

DepositEstimated minimum: 20%

Spanish banks usually lend up to 80% to a resident and 60 to 70% to a non-resident. The actual limit depends on your profile and on the bank valuation.

Bank valuationOptional

€

Banks usually base the loan on the lower of the purchase price and the valuation.

Annual interest rateFrom the offer you received

Term30 years maximum

yrs

Household net monthly incomeOptional, for the debt-to-income ratio

€

Estimated monthly payment

938€ / month

over 25 years at 2.90%

Loan amount€200,000

Total interest€81,416

Total cash needed to buy€71,700

Indicative estimate. The amount you can actually borrow depends on the bank, your profile and the bank valuation.

Your real upfront budget

The deposit is not enough. This is everything that leaves your account before you get the keys.

Breakdown of the cash needed at signing
Deposit 20% of the price	€50,000
ITP 7.00% of the price	€17,500
Notary, land registry and gestoría 1.5% of the price	€3,750
Bank valuation (tasación) Typical fee	€450
Total to pay	€71,700

Cash as % of price

29%

Total cost of the loan

281,416€

Debt-to-income ratio

21%

What the bank looks at

The debt-to-income ratio is one of the main criteria banks assess. Above roughly 35%, getting a mortgage usually becomes harder.

21%

Below 30%, applications are usually well received.

Generally comfortable

Capital and interest

In the early years you mostly pay interest. That is simply how amortization works.

CapitalInterest

Amortization schedule

Year	Payment	Capital	Interest	Balance
1	€938	€5,530	€5,727	€194,470
2	€938	€5,692	€5,564	€188,778
3	€938	€5,860	€5,397	€182,918
4	€938	€6,032	€5,225	€176,887
5	€938	€6,209	€5,048	€170,678
6	€938	€6,391	€4,865	€164,286
7	€938	€6,579	€4,677	€157,707
8	€938	€6,773	€4,484	€150,934
9	€938	€6,972	€4,285	€143,962
10	€938	€7,177	€4,080	€136,786
11	€938	€7,388	€3,869	€129,398
12	€938	€7,605	€3,652	€121,794
13	€938	€7,828	€3,429	€113,966
14	€938	€8,058	€3,198	€105,907
15	€938	€8,295	€2,962	€97,612
16	€938	€8,539	€2,718	€89,074
17	€938	€8,790	€2,467	€80,284
18	€938	€9,048	€2,209	€71,236
19	€938	€9,314	€1,943	€61,922
20	€938	€9,588	€1,669	€52,334
21	€938	€9,869	€1,387	€42,465
22	€938	€10,159	€1,097	€32,305
23	€938	€10,458	€799	€21,847
24	€938	€10,765	€491	€11,082
25	€938	€11,082	€175	€0

Your financing works. But does the property price?

InvestPilot compares the asking price with the local market, the real costs and the property’s potential across five buying strategies.

Analyze this property with InvestPilot

Calculator 2

Spain long-term rental yield calculator

What a rented property really leaves you with, after costs, mortgage and tax.

Gross yield is a first benchmark. To compare two investments properly, you also need to factor in running costs, financing and tax. The calculation applies the tax regime of your residency. Long-term rentals only. See also our guide on how to calculate the real rental yield of a Spanish property.

Net yield after tax

4.3% / year

gross 6.0%, net before tax 4.4%

Monthly cash flow after mortgage+€136

Cash invested upfront€84,700

Cash-on-cash return1.9%

Indicative estimate based on your inputs. Actual tax depends on your personal situation.

Where your rent goes

Gross rent is the starting point. What is left is your return.

Running costs and local taxes€2,235

Tax on rental income€155

Mortgage interest€4,410

Capital repaid€4,258

What you keep€1,635

The three yields

Three levels to tell the advertised yield, the operating yield and the after-tax yield apart.

Gross

6.0%

Net

4.4%

After tax

4.3%

Annual income statement of the rental
Rent collected 50 of 52 weeks let	€12,692
Community fees, IBI, insurance, management, maintenance	− €2,235
Tax on rental income IRPF 30% after the general 50% reduction, interest and depreciation deducted	− €155
Mortgage payments €722 per month, of which €367 interest in year one	− €8,668
Left per year	+€1,635

Your yield is an assumption. Test it against the market.

InvestPilot checks your estimated rent against local data, the purchase price, the liquidity of the area and the other possible strategies.

Check this property with InvestPilot

Reference

Property buying costs in Spain by autonomous community

On a resale home, the buyer pays ITP, the Impuesto de Transmisiones Patrimoniales (property transfer tax). Each autonomous community sets its own rate, and seven of them use a tiered scale by price. On a new build, ITP is replaced by 10% VAT (IGIC in the Canary Islands) plus AJD, a stamp duty ranging from 0.5 to 1.5% depending on the region. These are the rates the calculator uses by default. See also our guide on property purchase taxes and costs in Spain.

General ITP on resale homes and AJD on new builds, 2026 rates

General rates for a buyer without a reduced regime. Where a tiered scale exists, each rate applies to the part of the price within its band. Some regions offer reduced rates for young buyers, large families or social housing.

ITP rates on resale homes and AJD rates on new builds by autonomous community, 2026
Region	ITP resale (general rate)	AJD new build
Andalusia	7%	1.2%
Aragon	8% up to €400,000, then 8.5%, 9%, 9.5% and 10% above €750,000	1.5%
Asturias	8% up to €300,000, 9% up to €500,000, 10% above	1.2%
Balearic Islands	8% up to €400,000, 9% up to €600,000, 10% up to €1M, 12% up to €2M, 13% above	1.5%
Canary Islands	6.5%	0.75% (7% IGIC instead of VAT)
Cantabria	9% up to €300,000, 10% above	1.5%
Castilla-La Mancha	9%	1.5%
Castile and León	8% up to €250,000, 10% above	1.5%
Catalonia	10% up to €600,000, 11% up to €900,000, 12% up to €1.5M, 13% above	1.5%
Valencian Community	9% up to €1M, 11% above (since 1 June 2026)	1.4%
Extremadura	8% up to €360,000, 10% up to €600,000, 11% above	1.5%
Galicia	8%	1.5%
Madrid	6%	0.75%
Murcia	7.75%	1.5%
Navarre	6%	0.5%
Basque Country	4%	0.5%
La Rioja	7%	1%

In short: at the same price, the same €250,000 apartment costs €10,000 more in Catalonia than in Madrid, before notary fees. And in Catalonia, an €800,000 property pays 10% on the first €600,000 and 11% on the next €200,000.

Other costs, resale or new build

Additional costs when buying a property in Spain
Notary Official scale, decreasing with the price	0.3 to 0.5%
Land registry	0.1 to 0.3%
Gestoría Paperwork agency, often required by the bank	€300 to €500
Bank valuation (tasación)	€300 to €600
AJD on new builds Regional stamp duty, see the table	0.5 to 1.5%
Costs excluding purchase tax	1 to 2%

Total to budget on top of the price: often 10 to 15% on a resale home depending on the region and price, around 12 to 13% on a new build. These amounts usually have to come from your own funds.

ITP must be filed and paid within 30 working days of signing at the notary. See also financial capacity in InvestPilot, which includes these costs automatically.

Reference

How rental income is taxed in Spain, by tax residency

Three regimes apply to a property let long term. The rental yield calculator applies the one you select. For a full worked example, see our guide on the real rental yield of a Spanish property.

Comparison of the three rental income tax regimes in Spain
Situation	Taxable base	Deductible costs	Rate
Tax resident in Spain	Net rental income, with a general 50% reduction on eligible net income for new residential leases, subject to the applicable conditions	Yes: running costs, IBI, insurance, mortgage interest, 3% depreciation	Marginal IRPF rate, from 19% to 47%
Non-resident living in the EU or EEA	Net rental income, without the 50% reduction	Yes, pro rata to the period let	19%
Non-resident outside the EUSwitzerland, United Kingdom, United States…	Gross rent	None	24%

In short: on the same property let for €1,100 a month and 70% financed, a Spanish resident in the 30% band pays about €155 of tax a year, while a Swiss non-resident pays close to €3,050. More than one percentage point of yield difference.

Methodology

How the results are calculated

Every figure shown can be reproduced. Here are the formulas, the assumptions and the limits.

Mortgage

Loan amount = price × (1 − deposit).
Monthly payment of a fixed-rate repayment loan: M = C × r / (1 − (1 + r)^−n), where r is the monthly rate and n the number of months.
Total cash to buy = deposit + purchase tax + notary, land registry and gestoría + bank valuation.
Debt-to-income ratio = monthly payment / net monthly income. Usual benchmarks: generally comfortable below 30%, borderline between 30 and 35%, financing may be harder above.
Default lending limit: 80% for a resident, 70% for a non-resident, applied to the lower of the price and the bank valuation. If the deposit entered is below the minimum, the loan is capped at the limit and the actual deposit is recalculated.
ITP: the region’s general rate, applied by bands where a tiered scale exists. New build: 10% VAT (7% IGIC in the Canary Islands) plus regional AJD.

Long-term rental yield

Total cost = price + purchase costs + renovation and furniture.
Rent collected = rent × 12 × (52 − vacancy weeks) / 52.
Gross yield = rent × 12 / price. Net yield = (rent − costs) / total cost.
Tax according to the selected regime. Resident: general reduction estimated at 50% on eligible net income, then the marginal IRPF rate. For residents and EU non-residents, deductible depreciation is estimated at 3% of 70% of the acquisition cost, as land cannot be depreciated.
Net yield after tax = (rent − costs − tax) / total cost. Cash flow = that same income minus the annual mortgage payments. Cash-on-cash return = cash flow / cash invested.

Limits to keep in mind

Deducted interest is the first year’s. It then falls and the tax rises slightly.
ITP and AJD rates are the 2026 general rates. Reduced regimes (young buyers, large families, social housing) are not applied automatically.
The 50% IRPF reduction is the general case for new leases. Reductions of 60, 70 or 90% exist in specific situations and are not modelled here.
The default interest rate is indicative. Only a bank offer is binding.
The calculation does not cover capital gains tax on resale or wealth tax, which depend on your situation.
No data you enter is sent to a server. The calculation runs in your browser.

Rates and thresholds checked on 15 September 2026. Spotted an error or a rate change? Write to us.

Sources and last update

Official sources used. The rates and rules on this page are checked against the Spanish tax authorities and those of the autonomous communities. Last checked: 15 September 2026.

Agencia Tributaria: IRPF, reductions on rental income, non-resident income tax (IRNR).
Tax agencies of the autonomous communities for ITP and AJD, in particular the Agència Tributària de Catalunya, the Agència Tributària Valenciana, the Comunidad de Madrid and the Agencia Tributaria de Andalucía.
Legislation: Real Decreto Legislativo 1/1993 (ITP and AJD), Ley 35/2006 (IRPF), Ley 12/2023 por el derecho a la vivienda (reductions for new residential leases), Real Decreto Legislativo 5/2004 (IRNR).

Rates can change with regional budgets during the year. Spotted an error or a rate change? Write to us.

Frequently asked questions

How much will a Spanish bank lend to a non-resident?

Usually 60 to 70% of the property price, compared with 80% for a Spanish tax resident. Some banks go up to 70% for very strong profiles living in the EU, rarely more.

Purchase costs are never financed. You therefore need the deposit plus 10 to 15% in costs in cash, often 40 to 45% of the price for a non-resident. That is the “total cash needed” line in the calculator.

What costs are added to the purchase price of a property in Spain?

For a resale home: ITP, from 4 to 13% depending on the autonomous community and, in seven regions, on the price band. For a new build: 10% VAT plus AJD, between 0.5 and 1.5% depending on the region.

In both cases you add the notary, the land registry and the gestoría, around 1 to 2% in total. If you take out a mortgage, also allow for the bank valuation, around €300 to €600, and sometimes an arrangement fee.

What is ITP in Spain?

The Impuesto de Transmisiones Patrimoniales is the tax paid by the buyer of a resale property. It replaces VAT, which only applies to new builds. Each autonomous community sets its rate, sometimes by price band, which explains the differences between regions.

It must be filed and paid within 30 working days of signing at the notary. Some regions apply reduced rates for young buyers, large families or social housing. The calculator uses the general rate.

What is a good rental yield in Spain?

There is no universal good figure: it depends on the city, the neighbourhood, the condition of the property and your tax situation. An attractive gross yield can shrink a lot once running costs, financing and tax are taken into account.

Always compare the net yield after tax and the cash flow, and check the estimated rent against actual rents in the area. That is why the calculator shows all three levels side by side.

How is rental income taxed for a non-resident?

A non-resident living in the European Union or the EEA pays 19% on net rental income: running costs, IBI, insurance, mortgage interest and depreciation are deductible. A Spanish tax resident declares the rent under IRPF with, for new leases, a general 50% reduction on eligible net income, subject to the applicable conditions.

A non-resident outside the EU, including the United Kingdom or Switzerland, pays 24% on gross rent with no deductions at all. The impact on the final yield is far from marginal, and the calculator shows it directly.

Does this calculator replace a mortgage offer or tax advice?

No. It gives you a reliable order of magnitude with assumptions you control. The rate, term and lending limit depend on your profile and the bank. Tax depends on your personal situation.

Use it to frame your budget and compare properties, then have the figures checked by a broker or an adviser before you commit. Other questions about InvestPilot are in the full FAQ.

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