Answers backed by real data from negotiated offers. No theory — numbers.
703 offers from 17 banks analyzed
Based on 703 real offers collected over the last 90 days, the median fixed rate is 2.10%. The interquartile range runs from 2.00% to 2.30%, meaning the middle 50% of offers fall in that band. The best fixed rate recorded is 1.50%. For variable rates, the median spread over Euribor is 0.00%. This data comes from real negotiations shared by people in forums and groups, not bank advertising. The sample covers 17 Spanish banks.
According to our data, CajaSur has the lowest median fixed rate at 1.85%. This is calculated only for banks with 3+ reported data points to avoid small-sample bias. The banks with the most reported fixed offers are CaixaBank (196 offers), BBVA (183 offers), Banco Santander (68 offers), Kutxabank (50 offers), Unicaja (34 offers). The best individual fixed offer on record is 1.50%. We recommend getting quotes from at least 3-4 banks and comparing against this real data.
The median variable spread is Euribor + 0.00% across 0 offers. Not enough data with 3+ offers per bank for a reliable ranking.
Depends on your risk tolerance. Current data: fixed at 2.10% median, variable at Euribor + 0.00%. With Euribor at around 2.4% (March 2026, trending down from the 2023 peak), a variable rate today would mean a total rate of roughly 2.40%. Fixed locks you in against future rises. Variable can be cheaper if Euribor keeps falling. If you lose sleep over your payment going up, go fixed. If you can handle 100-200 euro/month swings, variable may save you money. Mixed (median: 1.70%) is a middle ground: fixed for a few years, then variable.
The Bank of Spain's guideline: your monthly payment shouldn't exceed 30-35% of your net monthly income. On a gross salary of 35,000 euros/year (roughly 2,000 euros net/month), your max payment would be 600-700 euros/month. At a fixed rate of 2.10% over 25 years, that finances roughly 140,000-160,000 euros. Banks also check your total debt ratio (including other loans) and typically require 20% savings for the down payment. With two applicants, both incomes count, which boosts your borrowing capacity.
Euribor (Euro Interbank Offered Rate) is the rate at which European banks lend to each other. It's published monthly. Your variable mortgage is calculated as Euribor + spread. The median spread in our data is 0.00%. If Euribor is 2.4% and your spread is 0.00%, your total rate is 2.40%. Euribor is typically reviewed every 6 or 12 months per your contract. If it drops, you pay less; if it rises, you pay more. Since peaking at 4.16% (Oct 2023), it has fallen significantly, but nobody guarantees it will keep going down.
Beyond the down payment (usually 20% of the price), expect an extra 10-13% in costs. For resale properties: transfer tax ITP (6-10% depending on region), notary (600-1,000 euros), registry (300-600 euros), agency/gestoria (300-500 euros) and appraisal (300-500 euros). For new builds: VAT at 10% + stamp duty AJD (0.5-1.5%). A 250,000-euro property needs roughly 50,000 euros down payment + 25,000-32,000 euros in costs = 75,000-82,000 euros cash upfront. Our cost calculator at /costs gives you the exact breakdown by autonomous community.
Very difficult. Banks typically finance up to 80% of the appraised value (80% LTV). A 100% mortgage would mean no down payment — just costs. In our data of 703 offers, the few with LTV above 90% tend to have higher rates and very specific profiles: civil servants with high income, or bank-owned repossessed properties. Some banks finance above 80% for civil servants or for properties from their own foreclosure portfolio. But the rate will be worse. The standard expectation is 20% savings for the deposit plus 10% for costs.
Switching banks (subrogation) makes sense if the rate difference is at least 0.5 points and you have more than 10 years left. Subrogation costs are lower than a new mortgage (no full ITP or stamp duty). The current median fixed rate is 2.10%. If you're paying above 2.60%, you already have reason to explore options. Use /check to compare your current rate against the market. Watch out: if your mortgage has an early repayment penalty, factor that in.
According to our data, the most common conditions are: direct deposit of salary (nearly universal), home insurance (very common), life insurance (frequent and the most expensive), credit card, and direct debits. Each tie-in can reduce your rate by 0.10 to 0.30 points. A "discounted" rate of 2.00% might actually be 2.80% without tie-ins. Since 2019, Spanish law (Ley de Credito Inmobiliario) lets you buy insurance from any provider without losing the discount, though some banks make it difficult. Always calculate whether the insurance cost justifies the rate reduction.
TIN (Tipo de Interes Nominal / Nominal Interest Rate) is the pure rate the bank applies to the loan. TAE (Tasa Anual Equivalente / Annual Equivalent Rate) includes TIN plus fees and associated costs (opening fee, mandatory insurance). TAE is always higher than TIN. A TIN of 2.10% might give a TAE of 2.40-2.70% depending on tie-ins. TAE is more useful for comparing offers across banks because it reflects the real cost. But caution: for variable rates, TAE is calculated with the current Euribor, which will change. Always look at both.
Civil servants typically get better terms due to their employment stability. Our current data doesn't have enough employment-type-differentiated offers to calculate the exact gap, but historically it runs 0.10-0.30 points better on fixed rates. They also get access to higher financing (up to 90-100% LTV) at some banks.
Yes, but banks demand more documentation and the rate tends to be slightly worse. You'll need to prove stable income over at least 2-3 years with tax returns (IRPF), quarterly VAT filings, and bank statements. Banks look at average net income, not gross. Max LTV is usually 70-80% (vs. 80% for employees). For freelancers with irregular income, a strategy is to ask the bank to average your 2 best years out of the last 3. The general market median fixed rate is 2.10%, but as a freelancer expect a premium of 0.10-0.20 points.
A mixed mortgage has an initial fixed-rate period (typically 3-10 years) and then switches to variable (Euribor + spread). The median initial fixed rate for mixed mortgages in our data is 1.70%, across 70 offers. The advantage: a lower initial rate than a pure fixed, plus partial protection against rises. The risk: once the fixed period ends, you're exposed to Euribor. They're popular with buyers who plan to sell or refinance before the fixed phase ends. If Euribor rises sharply when you switch to variable, your payment can increase significantly.
Mortgage-linked life insurance typically costs 300-800 euros/year, depending on your age, insured amount, and the insurer. A 35-year-old with 200,000 euros covered would pay around 400-500 euros/year. The bank offers it in exchange for a 0.10-0.30 point rate discount. Do the math: if the discount saves you 600 euros/year on your payment but the insurance costs 500, your real saving is 100 euros. And you can buy the insurance from any provider (usually cheaper) without losing the discount, thanks to Spain's 2019 Mortgage Credit Law. Always compare.
Absolutely. The initial offer is not final. According to our community data, the gap between the worst and best fixed offer at the same bank can be over 1 percentage point. Strategies: bring written offers from other banks, ask explicitly "what can you improve?", negotiate tie-ins separately. The best time to negotiate is with a pre-approval from another bank in hand. The market median is 2.10% for fixed — if you're offered more than 2.40%, you have room to push.
Longer term means lower monthly payment but much higher total interest. A 200,000-euro mortgage at 2.10% fixed: over 20 years you'd pay ~1021 euros/month (total interest ~45104 euros). Over 30 years: ~749 euros/month (total interest ~69741 euros). The legal maximum is 30 years at most banks (some go to 40 with age restrictions). The ideal is the shortest term you can afford — keep payments at 25-30% of your income max.
As of March 2026, Euribor is around 2.4%, trending down from the 4.16% peak in October 2023. The ECB has been cutting rates through 2024-2025. This benefits variable-rate mortgage holders: their rate reviews come out cheaper. For new mortgages, variable (median Euribor + 0.00%) is looking competitive. Nobody knows whether Euribor will keep falling, but market consensus points to stabilization around 2.0-2.5% for 2026. If you think it will drop further, variable wins. If you fear rebounds, a fixed rate at 2.10% gives you certainty.
Yes. Non-residents can buy without restrictions. You need a NIE (foreigner identification number), a Spanish bank account, and a lawyer is highly recommended. Financing for non-residents is usually limited to 60-70% LTV (vs. 80% for residents) and the rate may be 0.3-0.5 points higher. Banks with the most experience in non-resident mortgages include Sabadell, CaixaBank, and BBVA. If you're a tax resident in Spain with a work contract, conditions are virtually identical to those for Spanish nationals. Our data covers 17 banks, some with specific offers for non-residents.
The FEIN (Ficha Europea de Informacion Normalizada / European Standardised Information Sheet) is the official document the bank must give you at least 10 days before signing. It's binding: the conditions listed are what will be notarized. It includes the interest rate, TAE, monthly payment, term, fees, tie-in products, and total cost of credit. If the bank changes anything between the FEIN and the deed, you can file a complaint. When you have FEINs from several banks, compare them side by side (especially TAE and total cost). It's your best negotiation tool because it's a formal commitment. Never sign without reviewing it carefully.
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