The amount of the loan depends primarily on what you want to finance: a house (mortgage lending or home loan) or a consumer good such as car, television or furniture (installment credit). These two forms of credit are judged completely differently by the banks. But you can not always afford the loan you want, or you can not even get a loan of the desired amount. The next step is to use our loan calculator to calculate how much credit would expire for a given interest rate and duration. In order to obtain a loan from a bank, a fixed monthly income must be available to ensure repayment of the loan to the bank.
How much credit can I get?
Each individual bank assesses differently whether and how much credit you can get. For the average consumer, however, the role almost always plays the following: Decisive for the question “How much credit do I get at the most? When banks calculate how much my loan can be, they make sure that I can raise the monthly loan installment.
Above all, the free monthly money available for it must be high enough. How much credit on which income: These “free receipts” are used by the credit institutions for the maximum loan amount from the net income minus all the mont. In some cases, credit institutions also rely on experience and identify unforeseen expenses.
If, after the calculation of the loan installment, the maximum permissible repayment burden per month is clear, the house bank can calculate the maximum loan amount on the basis of the loan repayment term. How much credit you receive with what income is also dependent on the loan term. Basically, you get more for longer maturities because the repayment spreads over a longer time horizon and the monthly loan interest rates are therefore lower.
Borrowers who are very welcome from the banks are government employees. Temporary work, unqualified and freelance workers who have difficulty getting a loan are at the bottom of the list. Loans for the self-employed and for people with low creditworthiness are best suited in the form of loans from private investors (see also the table below). The controversial and unclear credit bureau points also have a strong influence on whether and how high a loan is even possible.
How much credit can I get for buying a vehicle? It is advantageous if you use the loan to purchase a vehicle and take a vehicle loan. You can then transfer the vehicle registration certificate as collateral to the house bank until the loan is repaid. If the eradication stops, the house bank can still sell the vehicle, which is a certain security deposit.
That is the reason why you can make car loans easier and a little cheaper. How much credit do I get for a real estate purchase? The same applies in the special case of real estate loans, if the purpose of the loan is the acquisition of a property, which is generally much more stable in value than a vehicle. In doing so, credit institutions generally use the market value less a margin, thus lending the property in the event of repayment difficulties without loss.
How much credit do I get with a property as collateral?
If you already own a house or an apartment, you can also register with a house bank a land charge in the cadastre as security for a consumer credit, if the property is not or only slightly developed. As a result, your credit limit can be increased up to the mortgage lending rate that the house bank assigns to the property and also allows for lower interest rates on the loan.
If you want to take loan amounts in excess of USD 10000, you may want to increase your credit facilities with a loan guarantor if necessary. This may increase the maximum amount of the loan and possibly offset a negative credit bureau entry. Frequently a family member offers to guarantee the repayment of a loan. Of course, a loan guarantee only makes sense if the credit guarantor has an appropriate credit rating.
This is also checked by the house bank. As an alternative to the loan guarantee, a second applicant with his own income as second borrower is added. As a rule, this increases the total income more than the expenses and thus the free returns from which the credit institutions calculate the maximum loan amount. In most cases, the spouse or significant other is probably the second lender.
However, the residual debt insurance can, to a limited extent, increase the maximum loan amount of a house bank. Because it reduces bank risk. How much credit can I get and at what interest rate? Since the listed points and thus the answer to the questions, how much credit I can get, and above all, where the cheapest course is for each one, you can only determine who gives you the cheapest credit on what loan conditions and interest rates and how high the Maximum amount for you by being considered by all.
There is no other way to check credit conditions.
Because no credit rating in the network takes into account how each bank ultimately addresses your personal, economic situation. In comparison portals, only interest rates published by banks can be compared. For a favorable effect and the acquisition of many customers, the banks initially advertise with the cheapest interest rates at which they provide loans.
The consumer protection groups also called “window dressing”, are generally only available to customers with the highest credit ratings. How much more a house bank at the end calculates for a credit, one comes out only by inquiries in the form of personal loan inquiries, which force the inquirer in general to nothing. A comparison portal can therefore not filter out banks that are usually cheaper than others.