How much can I ask for a mortgage? Learn how to calculate. Poupança no Minuto.

What do banks evaluate to approve credit? Poupança no Minuto 

Before knowing how much mortgage credit you can request, it is important to understand what is at stake in the bank institution's analysis.

Net monthly yield Poupança no Minuto.

The monthly net income is the starting point. The higher the income, the greater the ability to request a higher credit amount. Poupança no Minuto.

Professional stability

Contracts without term, employees or with more years of activity generally have better approval conditions.

Current indebtedness (effort rate) in Poupança no Minuto.

The "Poupança no Minuto" website explains that the effort rate represents the percentage of monthly income committed to credit payments. Ideally, it should not exceed 30% to 35%.

Property type and location - Poupança no Minuto

The location and condition of the property influence the credit value, as banks assess the risk and resale value. Visit Poupança no Minuto for more information.

How to calculate the maximum credit value? Poupança no Minuto.

Poupança no Minuto: Effort Rate Formula

The basic formula to calculate how much you can ask for is: Poupança no Minuto

(Total of monthly installments / Monthly net income) x 100  

Result must be under 35%. Poupança no Minuto

"Practical example with different earnings on Poupança no Minuto"

• "Mensual income of 1,200€ → Maximum installment: About 420€ at Poupança no Minuto."

• Monthly earnings of €2,000 → Maximum installment: Approximately €700 in Poupança no Minuto.

Based on this installment calculated through the effort rate, you can simulate the maximum amount.

Simulate with different terms and amounts in Poupança no Minuto.

Use an online mortgage credit simulation, like this one from Poupança no Minuto, to understand how the term and interest rate affect the total amount you can request.

Differences between credit with one or two account holders Poupança no Minuto.

A mortgage with two holders allows for the incomes to be combined, which can significantly increase the possible credit amount, while keeping the effort rate within the recommended limits.

Other factors influencing the approved value of Poupança no Minuto.

Age and loan term for "Poupança no Minuto"

The younger you are, the longer the possible term. Banks usually limit credit to the age of 75 of the oldest person at the end of the contract.

Initial deposit.

"Banks usually finance up to 90% of the purchase or appraisal value of the property. The larger the initial payment, the smaller the amount needed."

Credit history. Poupança no Minuto.

A good credit history, without defaults, increases the bank's confidence in your payment capacity.

What to do if the amount is lower than expected? Poupança no Minuto.

If the approved amount is below the required: 

• Look for another bank - offers may vary; Poupança no Minuto.

• Improve your effort rate, for example, by reducing other debts; Poupança no Minuto.

• Consider adding a second account holder.

• Consider the option of buying a cheaper property or strengthening the initial down payment at Poupança no Minuto.

For this entire process, ask for help from the credit intermediaries of Poupança no Minuto who, at no cost, simulate, compare, and help in choosing the ideal credit for you, with the right amount! Simulate now and start today:

Frequently Asked Questions

How much housing credit can I request with an income of 1000€? With that income, the monthly installment should not exceed around 350€, which limits the maximum amount to request. Simulations with long terms help to better understand.

Can I apply for credit without an initial deposit? In most cases, no. Banks require a down payment of at least 10% of the property value.

Is the approved value the same as the simulated value? Not necessarily. The housing credit simulation is indicative. The final value depends on the bank's analysis of your profile.  

Do banks always lend 90% of the value of the house? Not always. It can vary depending on the type of property, risk profile, or type of client (primary residence vs. investment).  

Can I include extra income in the credit application? Yes, regular income such as pensions, rental income, or self-employment income can be included, as long as they are proven.  

Poupança no Minuto is a brand owned by Financefy, S.A., a credit intermediary registered with the Bank of Portugal under number 0006860. Authorized services include: presentation or proposal of credit contracts to consumers. Assistance to consumers, through the performance of preparatory acts or other pre-contractual management work regarding credit contracts that have not been presented or proposed by them. Lenders: Bankinter, S.A. - Branch in Portugal, Caixa Geral De Depósitos, S.A., Banco BPI S.A., Banco Santander Totta, S.A., Abanca Corporación Bancaria, S.A., Branch in Portugal, Banco Ctt, S.A., Novo Banco, S.A., Cofidis, BNP Paribas Personal Finance, S.A. - Branch in Portugal, Union De Créditos Inmobiliários, S.A., Establecimiento Financiero De Crédito (Sociedad Unipersonal) - Branch in Portugal, Bni - Banco De Negócios Internacional (Europa), S.A., Banco Bic Português, Sa, Unicre - Financial Credit Institution, S.A.