You want to become an owner with a net monthly salary of 4,500 dollars? Find out how much you can borrow.

Realize a project of purchase, real estate investment or a construction project requires to calculate its borrowing capacity. To determine the maximum amount of the monthly payment, it is necessary to use monthly net income. How much can one borrow with income of 4,500 dollars net monthly? Response elements.

What is my borrowing capacity with 4,500 dollars per month?

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To know the amount that can be borrowed with a monthly net salary of 4,500 dollars per month, it is essential to calculate its debt ratio. It should be noted that banks generally accept a debt of up to 33% to ensure the repayment capacity of borrowers. The calculation of the debt capacity is essential because it allows to know the monthly amount that a borrower can support with a salary of 4,500 dollars.

Thus, for a salary of $ 4,500 monthly, with a maximum debt ratio of 33%, the maximum monthly payment is $ 1,485. With these revenues, it is possible to borrow nearly 356,000 dollars over 20 years, or 445,000 dollars over 25 years excluding bank charges. This amount may vary depending on your projects. Indeed, if you want to realize a rental investment, you will receive a rent each month which is taken into account in the calculation of the loan and thus modifies your capacity of indebtedness.

Make a feasibility study to get a mortgage

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For each real estate loan application, an advisor studies the situation of the borrower (income, charges and credits in progress) in order to propose a suitable financing solution. If you want to save time, you can do a free, no-obligation feasibility study. After completing an online form, you will be contacted by a professional to clarify your request. Once the feasibility of the project is proven, all you have to do is provide the necessary supporting documents.

To get a mortgage at the best rate, it is strongly recommended to go through a broker. This market specialist directs you to the most advantageous offers and can even renegotiate your rate with its partners. His intervention saves you time and money. If you prefer to confront yourself the offers offered by banks, do not hesitate to use a free online comparator. For this, you will need to fill in the characteristics of the desired loan and some information on your professional and financial situation. In minutes, the tool displays the best credit offers on the market.

Thus, it should be noted that the amount you can borrow does not only depend on your debt capacity but also your project, your profile, the presence of other credits in repayment, the nature of the property immovable.