Credit amount

Details that may influence the amount of your mortgage

To finance the purchase of real estate, you will only have to take out a loan. But since the cash you are going to ask for is very high, it will be relatively difficult to unlock it. In addition, the amount that a bank will grant you will depend in particular on a few factors.

If you plan to take out a mortgage, it is best to calculate your borrowing capacity. This is necessary to determine in advance the amount you can obtain. All the more so since this type of credit is highly conditioned and the banks are often picky. Thus, knowing your repayment capacity will also allow you to know whether you should resort to certain assisted loans. The latter being less restrictive.

The amount of the mortgage you want will depend above all on the personal contribution that you will provide. Your financial stability will also have an impact on the amount you can get. In this sense, your income should allow you to cover your expenses very well. This will notably require a debt ratio of less than 33%. If this is not the case, the maximum monthly payments that you will pay and, consequently, the amount granted, will be revised downwards. Of course, you can always decide to request a repayment period over a very long period to reduce the deadlines. However, it may cost you dearly.

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Various details to know to optimize your mortgage application