Rising real estate prices, new credit conditions,... How much do you have to earn to become a homeowner?

Real estate, Occitanie, Banking-FinancesPublished on, updated

the essentials With such low mortgage rates, there have never been so many applicants for home ownership. To hope to borrow and cherish the dream of becoming a homeowner, how much do you have to earn?

With such low mortgage rates, there have never been so many candidates for home ownership. Indeed, with nearly 1.2 million transactions completed this year, 2021 has reached a new all-time high. What is the profile of these buyers? How much do you have to earn to become an owner? La Dépêche Immo gives you some answers.

Personal contribution: an essential condition

Unsurprisingly, the salary will be one of the determining criteria in the success of the real estate project. According to Maël Bernier, director of communication and spokesperson for Meilleurtaux, on average future buyers must earn three times more than each monthly repayment to be honored. Depending on the city, this amount may vary. "In Occitania, the average loan amount is 173,728 euros, with a contribution of 24,732 euros. That is a total transaction amount of around 199,000 euros", figures Maël Bernier. With an average rate of 1.05% and insurance at 0.34%, the monthly payment will be around 850 euros over twenty years.

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The minimum monthly net salary to buy must therefore be around 2,550 euros per household. "In the end, a couple on a permanent contract where the two members each earn nearly 1,250 euros can claim ownership," reassures the credit specialist. On the other hand, the difficulty lies in finding input, a sine qua non condition for unlocking the famous sesame. "Today, it is almost impossible to borrow without contribution. It is necessary to count at least 10% of the price of the property, specifies Maël Bernier. In France, the average contribution is 28,753 euros".

A stable situation

Another element taken into account by financial institutions is the stability of the financial situation. “The vast majority of borrowers are on permanent contracts or self-employed with a minimum of three years of experience. Unfortunately, without a promise of employment, it must be considered that the CDD cannot borrow”, analyzes Maël Bernier. On the other hand, a “comfortable” fixed-term contract (paid €3,000 per month), backed by a permanent contract, could tip the scales if the household slightly exceeds the debt ratio of 35%. “We must not forget that banks can still derogate from the rules of the High Council for Financial Stability (HCSF) by 20%, mainly for first-time buyers. Behind the figures, there are still human beings. obviously deal with cases on a case-by-case basis depending on each person's situation", reassures the expert.

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