Openbank mortgages allow home buyers to finance the purchase of real estate without incurring fees for opening, subrogation, amortization partialization or swapping out their deed.
Interest accrued is calculated based on your total loan amount and term requested, with fixed mortgage loans having lower rates while variable loans offering greater advantages.
Calculate your interest rate
Hipoteca Mixta and Hipoteca Variable, interest rates will be determined at the start of each amortization term or subsequent offer, usually annually or semiannually. If this results in an increase, each loan payment would increase accordingly; conversely, should any decrease occur which leads to difficulties paying monthly installments, then monthly payments become harder than before.
All homeowners must establish residency in Spain and obtain home and life insurance from Openbank throughout the term of their loan agreement.
Calculation of Total Hipoteca AmountBased on average IPC and select saving lines annually or semiannually
When you ask us questions, we have answers. Speak with our expert team and receive a complimentary mortgage consultation Monday-Friday 8 AM-20 PM.
Calculate your monthly fees
Initial interest rates will be fixed during the initial period for both the Hipoteca Open Variable and Mixta loan products (10 years). Derivates must be calculated as the difference between outstanding capital at early repayment time and market valuation value; once that period has concluded, variable (Euribor +0.60%1 as applicable) rates will apply on Open Mixta loans while Life Loans have fixed rates that remain constant over time.
What minimum amount may I request and what monthly repayment capability am I capable of having?
If there are two or more owners, their total loan payment must equal or surpass 1.800EUR each month. All owners must also reside within Spain’s tax jurisdiction and openbank has been contracted as their payment source during the life of their mortgage loan with Open Bank S.A as its bank-securities provider; with multiple owners sharing an account contracting directly with an escorted security provider; in this case ensuring payment. Any secured mortgage products sold through Openbank include Homeowner Insurance sold through Home Security Operating company which covers your loans without opening costs or maintenance charges being assessed separately by Open Bank, S.A as an operator of Bank-Linked Securities Operating Company for your loans with Openbank as the bank-Securities Provider for secured loans taken out over an agreed upon duration period – without opening costs nor maintenance charges being levied against anyone.
Calculate your monthly interest
The interest rate is calculated daily based on Euribor reference rate, and applied to your loan’s outstanding amount minus any discounts that may apply. We provide updates regarding your monthly rate at any point during operation – such as during your first month!
Due to today’s uncertain and high interest rates, I am seeking advice about switching my mortgage loan for one with lower rates. Please help! Thank you very much. Together we can make life better. Thank you very much!