Calculate your maximum credit: this is how it works
If you want to borrow money, for example to buy a home or to finance a renovation, you always have to deal with a maximum credit. The maximum credit is the maximum credit that you can get from the bank and that is seen as the highest limit of money that you can borrow without getting into financial difficulties. It is not always necessary to borrow to the maximum, but when buying a home many people opt for the maximum financing with a maximum credit. Are you also in this situation and are you curious to know how much you can borrow? Then read in this article how the maximum credit is determined and how you can calculate this credit for yourself.
The maximum credit: depending on various factors
The maximum credit that you can borrow depends on various factors. Some of the factors that influence the highest amount you can borrow are the following:
- Your income and the income of your partner, in gross annual figures.
- Your career and the prospects that you may or may not have for the future.
- Your existing loans and / or debts, if you have loans and / or debts.
- Your possible BCR registration.
- The current borrowing interest in the market: if the interest is high, then you have to pay more monthly and you can therefore borrow less with the same income figures.
In addition, the maximum amount that you can borrow depends not only on the above factors, but also on the lender where you apply for the loan. Every lender has different conditions, which means that some parties simply give more money than other lenders.
Calculate the maximum credit: online or with the lender
There are two ways to calculate what you can borrow maximum. The easiest way to calculate your maximum credit is to use an online tool for this. You enter your data, you check the data and you confirm the information to instantly see how much you can borrow from a specific party. Incidentally, this is not always the final amount, but rather a guideline when applying for a loan. The real maximum amount is always determined when you apply for the loan.
The second way to find out your maximum credit is to visit a lender and have your maximum credit calculated here.