How the monthly payment works
On a variable-rate Portuguese mortgage, your rate is the sum of Euribor (which the bank doesn't control and changes over time) plus the spread (the bank's margin, fixed in the contract). The payment is calculated on that total rate and the term. When Euribor rises or falls, the payment follows at each review.
Spread and term matter a lot
A lower spread saves you thousands over the life of the loan, so it's worth comparing banks. A longer term lowers the monthly payment but significantly increases total interest paid — this calculator shows that total so you can see the real effect.
Frequently asked questions
Should I choose a fixed or variable rate?
Fixed gives predictability; variable can be cheaper but moves with Euribor. To simulate a fixed rate, set Euribor to 0 and use the fixed rate in the spread field.
Is it free?
Yes — free, no signup, nothing is stored.