How do I use the mortgage affordability calculator and read the result?

What is the mortgage affordability calculator for?

FINOVA's mortgage affordability calculator lets you check whether a home loan fits your income before you go to the bank. It uses Banco de Portugal's rules, the same ones the banks follow.

It is free to use and needs no sign-up. The numbers are worked out in your browser.

If you only want the monthly repayment, use the Mortgage Repayment Calculator.

What do you need to check your mortgage affordability?

• Your net income in a normal month: what lands in your account after tax and Social Security.
• Your monthly repayments on other loans: car, personal loan, credit card or leasing.
• The price of the home, or the most you plan to spend.
• Your deposit: your own money going into the purchase.
• The age of the person taking the loan.

If two of you are buying, add both incomes and both sets of loans. For age, the older person counts. If you are paid in another currency, convert your income to euros.

How do you fill in the calculator, step by step?

Step 1: your numbers. Enter your income without holiday and Christmas pay. Then say if you receive them. Many Portuguese salaries are paid 14 times a year.

For other loans, include any you guarantee for someone else. Rent and day-to-day spending do not count.

For the deposit, leave out IMT (property transfer tax), stamp duty, the deed and the registration. They are paid separately. See Which taxes do I have to pay to the State at purchase?

Step 2: the loan. Choose the term, the type of rate and your age.

• Term: more years means a lower monthly repayment, but more interest in total. The longest term is 40 years if you are 35 or under, and 35 years if you are older.
• Type of rate: with a fixed rate, the repayment does not change. With a variable rate, it moves with Euribor. See Fixed, Variable or Mixed Rate: what is the difference?
• Home as your main residence: tick it if you will live in the home. The loan can then cover up to 90% of the home's value. For any other purpose, such as a holiday home, the cap is 80%.

How do you read the calculator's result?

"Amount to borrow" is the price of the home minus your deposit. "How much you can borrow" has two lines:

• "Comfortable up to" is the amount FINOVA recommends.
• "Within the limit: up to" is the most that Banco de Portugal's rules allow.

Next comes your affordability ratio: the share of your income that goes to loan repayments. It is shown at the current Euribor and with a Euribor rise.

Your result band uses the rise, because that is how the bank decides. With a fixed rate, there is only one figure.

• Comfortable: your affordability ratio is 35% or less, the figure FINOVA recommends.
• Above recommended: above 35%, but within Banco de Portugal's 45%.
• Above the limit: above 45%. Banks only accept these cases as exceptions.

See how it is worked out in What is the effort rate, and what should mine be?

Example: a €200,000 home on a €1,800 salary

You take home €1,800 a month and receive holiday and Christmas pay. The calculator counts €1,800 × 14 ÷ 12 = €2,100 a month.

The home costs €200,000 and you have a €30,000 deposit. The amount to borrow is €170,000. The loan covers 85% of the home, within the 90% for a main residence.

Say that, with the Euribor rise, the repayment comes to €800. Your affordability ratio is €800 ÷ €2,100 = 38%. That is above recommended, but within the limit.

Why might the bank give you a different figure?

The calculator's result is indicative. It is not an offer or an approval. There are four reasons the bank may differ:

• The valuation. The bank lends against the lower of the price and the valuation. A lower valuation means a bigger deposit.
• The spread. The calculator uses an indicative figure. Each bank sets its own, based on your profile.
• The costs it leaves out: taxes, fees and insurance.
• The creditworthiness assessment. The bank checks your income and loans against documents, and has its own rules.

The actual terms come in the bank's offer. See What is the FINE, and why should I read it carefully?

What should you do once you have the result?

Outside the Comfortable band, the page shows what you can change: the price, the deposit or the term.

In any band, you can request an analysis of your case. You get the PDF with the figures by email, and we get back to you within 48 hours. There is no commitment: see Who pays FINOVA?

To get started, open the mortgage affordability calculator.

Sources

• Banco de Portugal — Press release of 2 July 2026: "Banco de Portugal reviews its Macroprudential Recommendation on new credit agreements for consumers"
• Banco de Portugal — LTV, DSTI and maturity limits

Sources checked on 1 October 2026.