First, compare like with like
Before looking at a payment, confirm that the offers finance the same principal over a comparable term. Record whether each rate is fixed, variable or mixed: an initial payment alone does not describe future reset risk.
TIN
The nominal rate used for the payment in a constant-rate scenario. By itself, it excludes fees and linked products.
TAE / APR
The lender discloses the Spanish TAE, an annual-equivalent rate that includes the rate plus applicable fees and charges. It is the closest Spanish equivalent to APR.
Estimated total cost
Cifra Clara adds payments, opening fee, entered upfront costs and the annual cost of linked products for the term you enter.
We do not recalculate an official TAE: that would require the date and regulatory treatment of every cash flow. Copy each TAE from the FEIN and cross-check it with the Bank of Spain’s official simulator.
Map the FEIN into the calculator
The FEIN (the Spanish version of the European Standardised Information Sheet, ESIS) is the personalised, binding offer supplied by the lender. Keep one copy per lender and note its validity date.
| Item | Source | Calculator field | Affects |
|---|---|---|---|
| Price and deposit | Purchase and own funds | Price / deposit | Principal |
| TIN | FEIN | TIN | Payment and interest |
| Term | FEIN | Years | Number of payments |
| Opening fee | FEIN | Opening % | Upfront cost |
| Other costs | FEIN and quotes | Upfront costs | Total outlay |
| Linked products | FEIN and comparable quote | Annual linked cost | Accumulated cost |
| TAE/APR and validity | FEIN | Checklist, not calculator | Regulatory comparison |
Reproducible example: the lowest payment loses
Synthetic case for a €250,000 property, €50,000 deposit and €200,000 principal over 25 years. All three offers use constant rates and the French repayment method with monthly payments.
| Input | Offer A | Offer B | Offer C |
|---|---|---|---|
| TIN | 2.7 % | 2.55 % | 2.85 % |
| Term | 25 years | 25 years | 25 years |
| Opening fee | 0 % | 1 % | 0 % |
| Upfront costs | €700 | €450 | €0 |
| Linked products/year | €420 | €960 | €180 |
| Result | Offer A | Offer B | Offer C |
|---|---|---|---|
| Monthly payment | €917.51 | €902.28 | €932.89 |
| Interest | €75,253.28 | €70,683.38 | €79,867.83 |
| Fee + costs + linked products | €11,200.00 | €26,450.00 | €4,500.00 |
| Financing cost | €86,453.28 | €97,133.38 | €84,367.83 |
| Total outlay | €336,453.28 | €347,133.38 | €334,367.83 |
€902.28 / month
€334,367.83
Offer B saves €15.23 per month versus A, but its fee and linked products increase the total outlay. Offer C ends up €12,765.55 cheaper than B despite having the highest payment.
A decision order that avoids shortcuts
- Validate the documents. Use the same principal, a comparable term, the correct rate type and current FEIN documents.
- Compare the disclosed TAE/APR. It is the regulatory pre-contract comparison measure; do not replace it with a low nominal rate.
- Check affordability. The cheapest long-term option only works if its payment comfortably fits your budget.
- Make every cost explicit. Enter the fee, upfront costs and a comparable alternative cost for linked products over their real duration.
- Run separate scenarios. For variable or mixed mortgages, never present a future Euribor as a forecast: test labelled hypothetical rates.
Replace the example with your FEIN figures
The calculation runs on your device and requires no account.
Official sources, assumptions and limits
- Bank of Spain: TAE for a loan or credit product ↗
- Bank of Spain: mortgage information in the FEIN/ESIS ↗
The example is synthetic and does not reproduce a commercial offer. It assumes a constant rate, monthly French-method payments, constant annual costs for 25 years and no early repayments, payment holidays or regulatory changes. The results are educational, not advice or a lender recommendation.