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Learn how to use Mortgage calculators 2022

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How to use Mortgage calculators 

Do you need to know what mortgage you can afford? The solution is to use a mortgage calculator that does the math for you.

The best mortgage loan calculators are able to tell you the amount of the loan and even the house that you will be able to buy. That is precisely what the Mortgage.com calculator does.


This tool to calculate your mortgage starts with the loan and not with the house. This way you will have a clear budget before you start looking or you can set more realistic goals if you are already doing it.


Let's see how it works and what data you must provide!





Personal situation


To find out what mortgage you can get, we start with two key personal data: how many people are going to sign the mortgage and if you have or have people in your charge.

Adding more than one holder with their own income to the mortgage is always positive. On the one hand, it allows you to ask for more money because the income is higher. On the other hand, the risk of non-payment decreases as there are two different sources of income.

And the people in charge? Knowing the number of family members helps to better calculate what your monthly expenses may be. This way we will better adjust the amount of mortgage you can afford.

your work situation


Fixed, temporary, autonomous contract... Look, we are gossips! In this section you have to tell us what your employment situation is.

Thanks to it, we will be able to know how stable your income is, among other things.

How old are you


We know that this question can raise suspicions and no, we do not do it because we are very nosy.

Knowing your age allows you to adjust the term of the loan. In other words, the number of years the mortgage will last.

What is your income


This section is key. To make it very easy for you, you just have to tell us how much you earn per month (the money that reaches your account) and how many payments you receive per year.

As you have surely already guessed, the higher your salary, the greater the loan you can access. It's that simple.

Are you paying any other loans ?


This is a rigorous question, as they say. If you have other debts, we only need to know the total amount.

This data is used to know what your level of debt is and to be able to adjust the mortgage loan to it. In this way, you make sure that your loans do not put an excessive weight on your finances. At the end of the day, a good mortgage should be a source of joy and not worry.

With these data, the mortgage calculator will get to work and you will know what house you can buy, among other things.

What can you find out with a mortgage calculator?

A good mortgage loan calculator will help you know how much money you can ask for as a mortgage and much more. You will also find out which house you can buy and you can even play with the figures based on the initial capital you contribute.

Are there other mortgage calculators ?


Of course! The Bank of Spain itself has a tool that can help you and that takes into account other factors such as the interest rate of the loan or the years of repayment.

Its objective is more focused on how much you will pay as a mortgage than on the mortgage you can get. 

Depending on what you are looking for, it can be a good complement to the mortgage calculator.



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