The truth is there is no fixed amount. It all depends on your financial situation and the conditions of the mortgage loan.
What do banks assess when approving a mortgage?
Banks do not look only at your salary. They analyse several factors before approving a loan, such as:
• Household monthly income
• Employment stability
• Debt-to-income ratio
• Existing loans (car, credit cards, personal loans)
• Initial down payment
• Credit history Because of this, two people with the same salary may have different mortgage approval outcomes.
What is the debt-to-income ratio?
The debt-to-income ratio is one of the most important factors in mortgage approval.
It represents the percentage of monthly income used to repay debt and should not exceed 35%–40%.
Calculate your debt-to-income ratio using our simulator.
How to increase your chances of approval?
If you want to improve your chances of getting a mortgage, there are some important strategies:
• Reduce existing debts
• Save for a higher down payment
• Improve employment stability
• Choose a property within your income range
• Compare offers from different banks
Why use a Mortgage Broker?
At Aprova, we help you find the best mortgage solution by comparing offers from multiple financial institutions.
With our support, you can understand:
• How much you can borrow
• Your estimated monthly payment
• Which banks offer the best conditions for your profile
• How to increase your chances of approval
Simulate your mortgage or speak with our team through the contact form.