Early repayment simulator
Put extra capital into your mortgage and compare the two options: lower the payment or shorten the term.
Information, not tax or financial advice.
How the early repayment calculator works
Repaying early means paying back part of the mortgage ahead of schedule. You can cut the payment (pay less each month) or cut the term (finish sooner and pay less interest overall).
How to read the result. You'll see how much interest you save with each option. Cutting the term usually saves more; cutting the payment gives more monthly room. If your mortgage has an early-repayment fee (compensation), enter it: it's paid separately (on the capital you prepay) and is subtracted from the saving to give the net saving. Spanish law caps it (e.g. up to 2 % in the first 10 years on fixed-rate loans, and it's often 0).
Worked example (default values). A €150,000 mortgage over 25 years at 3 % (payment of €711.32 and €63,395 of remaining interest), repaying €15,000 with no fee:
- Cutting the term: you save about €15,115 in interest and finish 42 months (3.5 years) sooner.
- Cutting the payment: it drops from €711.32 to €640.19 a month (saving about €6,340 in interest).
An important note. Before repaying, compare: if your mortgage is at 3 % and a safe investment yields more, investing may pay off. Always keep your emergency fund.