Do you have a real estate project but don’t know how much you can borrow with your income? Don’t panic, Moneyvox takes stock for you.
We keep reading it from one article to another, borrowing becomes more and more difficult. Between the HCSF standards (35% maximum debt ratio, for a loan term not exceeding 25 years with some exceptions), the rise in mortgage rates and the rate of wear and tear, households are sometimes caught by the throat time to embark on what should be a great project.
Concretely, who can claim a mortgage today? What can I expect if I win the Smic? How much do they lend me if I earn 2000, 3000 or 4000euros net per month? One thing is certain: whatever your income, the current situation calls for vigilance, as confirmed by Mal Bernier, spokesperson for Meilleurtaux. In this period of rapidly rising rates, my main advice is to be careful. When you go to see your bank or a broker, they will give you a funding envelope, but it is better to look for goods a little below, because what we proposed to you at the beginning of June will no longer be true in August. I therefore advise removing 10,000 euros from its envelope to deal with contingencies.
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Second thing: for a borrower with minimum wage, it is not sure that the bank will go up to 35% of the debt ratio, so as not to financially strangle the client. The bank will rather stop between 30% and 33%, confirms Mal Bernier. Finally, any borrower must at least present himself with a personal contribution of 10% in order to pay the ancillary costs (application fees, notary fees, etc.) so that the bank agrees to lend to the maximum of its client’s capacities. .
Case n1: for a minimum wage borrower
Bertrand earns the Smic (1302 euros net per month). As for all borrowers, his monthly payment cannot exceed 455 euros (35% debt ratio). With an estimated nominal rate of 1.95% at the beginning of June, based on his profile, he can hope to borrow over 20 years the sum of 85417 euros maximum, for a monthly payment of 430 euros excluding borrower insurance. If the bank decides to limit its debt ratio to 33%, its envelope will then be 80,536 euros (405 euros monthly).
Case n2: for a borrower with 2000 euros of income
milie earns 2,000 euros net per month. With the obligation of the debt ratio, his monthly payment cannot exceed 700 euros per month. In this month of June, it can expect a nominal rate of 1.85%. Thanks to this, milie can hope to borrow up to 132,582 euros, for reimbursement over 20 years of 661 euros per month, excluding insurance. Here too, if the bank decides to limit its debt to 33%, its budget loses nearly 7,000 euros (125,006 euros in total).
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Case n3: for a borrower with 3000 euros of income
With his net income of 3,000 euros per month, Richard wants to borrow to buy a principal residence. To respect the limit of debt ratio, his monthly payment cannot exceed 1050 euros per month. With a nominal rate of 1.80% over 20 years at the beginning of June, it can borrow 199760 euroswith a monthly reimbursement of 991 euros, excluding insurance.
Case n4: for a borrower with 4000 euros of income
Thanks to her work in IT, Alice receives 4,000 euros net per month, which allows her to devote a maximum of 1,400 euros per month to repay her credit. Faced with this interesting borrower, the bank can offer her a nominal rate over 20 years of 1.70%. Alice can therefore borrow 268733 eurosand will have to pay a monthly payment of 1321 euros excluding insurance.
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