What salary to have 250,000 euros?

By fashionlifeshopping 29/10/2022 1165 Views

Calculate your debt rate to make a credit of 250,000 euros

Whether you want to acquire a main residence or a second home or plan to make a rental investment, you will in most cases have to comply with a 33 % debt rate.This debt rate means that your charges should not represent more than a third of your income.However, in certain situations, an organization may agree to grant a loan beyond the 33 % debt rate.This is particularly the case for very high income.

To calculate your debt rate, a formula exists: charges / income x 100 = debture rate

Take the example of a couple whose net monthly income amounts to € 3,200 in total.The latter must pay monthly payments of € 250 for their car credit every month, as well as monthly payments of € 800 for their mortgage.The total of their charges therefore amounts to € 1,050.Their debt rate is 32.81 %, just below the authorized limit.

Borrow 250,000 euros: the required salary

Quel salaire pour emprunter 250 000 euros ?

The salary required to borrow € 250,000 will largely depend on the length of the loan.

Please note: these figures are to be taken with tweezers, because they do not take into account the costs and insurance inherent in any mortgage.

Income sources analyzed to borrow 250,000 euros

Salary is not the only source of income taken into account by banking establishments.Besides, it is quite possible to borrow money by being on his own.However, it will be necessary to take into account that, according to your professional status, income will not necessarily be taken into account in their entirety.Indeed, while income from a contract on permanent contract are taken into account in their entirety, those from an independent activity are generally taken into account until 50 %, and this after three years ofat least seniority.Likewise, wages received in fixed -term contracts, contractual or temporary workers are taken into account according to an average established over the last three years.

To find out the salary required to borrow € 250,000, we advise you to use a mortgage simulation tool and consult our advice to finance your property.

How to borrow for real estate purchase