Mortgage Simulator 2026
A Portuguese mortgage payment depends on the amount, the term and the rate: on a variable rate, the nominal rate (TAN) is Euribor plus the bank's spread. A €200,000 loan over 30 years at a 3.5% TAN costs about €898 a month. The APR (TAEG) adds insurance and fees and is the right figure for comparing banks.
How the simulator works
Enter the loan amount, the term in years and the rate type: variable (1, 3, 6 or 12-month Euribor plus spread), fixed, or mixed with a number of fixed-rate years before it turns variable. You can add life insurance, home insurance and the arrangement fee. The simulator returns the principal-and-interest payment, the total monthly payment with insurance, the TAN, the TAEG, total interest, the total cost of credit and the monthly and annual amortisation table. Comparison mode puts several scenarios side by side, for example two spreads or fixed against variable.
Worked example
€200,000 over 30 years (360 payments) at a 3.5% TAN: a principal-and-interest payment of €898.09 a month and about €123,312 of interest over the life of the loan, before insurance and fees. At a 3.0% TAN the payment falls to €843.21.
Costs beyond the monthly payment
Banks usually require life insurance on the borrowers and home insurance on the property, and may charge arrangement and valuation fees. These costs do not change the principal-and-interest payment, but they do raise the monthly outgoing and the TAEG, which is why two offers with the same TAN can cost different amounts.
Banco de Portugal lending limits
For loans assessed from 1 August 2026, Banco de Portugal's Macroprudential Recommendation no. 1/2026 recommends a maximum LTV of 90% for a permanent own home and 80% for other purposes (Article 5), a debt-service-to-income ratio (DSTI) on all loans of up to 45% of net income, with exceptions capped at 10% of credit granted per half-year (Article 6), and terms of up to 40 years for borrowers aged 35 or under and up to 35 years above that age (Article 7). The DSTI calculation also factors in an interest-rate rise.
Results are indicative and do not replace the bank's binding offer. See the other financing simulators or, when buying a home, the IMT simulator.
Frequently asked questions
What is the maximum mortgage term in 2026?
40 years for borrowers aged up to 35 and 35 years for borrowers over 35, for loans assessed from 1 August 2026 (article 7 of Banco de Portugal Macroprudential Recommendation 1/2026).
How much can I borrow?
Up to 90% of the property value for a permanent own home and up to 80% for other purposes, with a monthly payment that should not exceed 45% of net income (Macroprudential Recommendation 1/2026).
Fixed or variable rate: which should I choose?
A variable rate follows Euribor and can go down or up during the loan. A fixed rate keeps the payment stable during the fixed period. A mixed rate combines an initial fixed period with a variable one. The choice depends on how much room you have to absorb rate rises.
What is TAEG and why does it matter more than TAN?
TAEG (the APR) adds fees, mandatory insurance and other loan charges to the interest. It is the right measure for comparing offers from different banks (Decree-Law 74-A/2017).
Can I repay the mortgage early?
Yes, in full or in part. The fee cannot exceed 0.5% of the capital repaid on a variable rate and 2% on a fixed rate (article 23 of Decree-Law 74-A/2017).