Mortgage loan: how much can I borrow?

The amount of a loan is always fixed according to the borrower’s repayment capacity and monthly payments. The ultimate question that always arises when applying for a home loan is: how much can I borrow? 

How much can I borrow to buy real estate?

How much can I borrow to buy real estate?

Do you dream of owning a home? You must understand that for the realization of your project, you will have to have recourse to a mortgage. When approaching your bank or financial institution, your first reaction is to ask “How much can I borrow ?” Before you review your loan history, the first thing your lender will do is check your repayment capacity.

For this, he must examine your income and establish your repayment capacity per month. You can define the amounts of these monthly reimbursements beforehand by deducting your fixed charges from your net salary. You also have the option of determining the amount of reimbursement that best suits your financial situation.

Facilitate your credit application by going through an online credit simulator

Facilitate your credit application by going through an online credit simulator

Taking advantage of an existing property means making a mortgage with it. If you already have an apartment or a detached house, this is also a great way to easily take out a loan. And this will allow you to make another real estate purchase. This personal contribution can come from your home or from aid granted by third parties who can be friends or family. You can integrate these contributions into your credit simulation. This can also be done online if you want to save time. Going through a loan simulator allows you to discover all the information relating to a specific type of loan.

Using this tool will give you a lot of information. As the amount which could be granted to you according to your financial situation, the rate and the monthly payments to be reimbursed. These calculated details allow you to see if the repayment term suits your income and financial possibilities. It is also the means to discover the most interesting credit offers on the market. If the amount of property you want to buy or the work you want to do is very large compared to the amount you can borrow, you can always adjust your needs in relation to the result of the simulation.

Additional conditions to be met for a loan request.

Additional conditions to be met for a loan request.

When applying for a mortgage, you have to be realistic about the monthly payments. Before taking the plunge, you should understand that these must not exceed 1/3 of your household income. If you win, for example, more or less € 2,500 net per month, your repayment capacity will not exceed € 850 per month. This capacity is, of course, flexible, depending on the size of your income and your expenses. The approval of a home loan also involves the estimation of the property or work that you want to undertake in the event of renovation.

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