With the rise in real estate rates, to borrow the desired budget for your real estate purchase, you have to earn more than a few months ago.
The rise in real estate rates continued in April. The average rates offered this month are 1.25% over 15 years, 1.45% over 20 years and 1.65% over 25 years, according to the broker Vousfinancer. For the record, in January it was possible to borrow on average at 1% over 15 years, at 1.15% over 20 years and at 1.40% over 25 years with significant differences depending on the profile. And the consequences of this increase are already being felt, you have to earn more and pay more to be able to borrow.
In a previous article we explained to you that the amount of the mortgage depends on several elements, namely the income, but also the debt ratio, the interest and the term of the loan. To simplify matters, Vousfinancer has carried out various simulations for BFM Immo based on an interest rate of 25 years.
Also watch the intake. Banks have never asked for such a contribution for the provision of mortgages. The brokerage network Finance Conseil confirms that it is now necessary to count an average of 52,594 euros co-payment in France, compared to 29,405 euros last year. Spectacular growth (+78% over one year).
For a loan of 100,000 euros
So to get a loan of $100,000, with an interest rate of 1.20% over 25 years in January, and taking into account the debt of 33%, you had to earn $1,170 per month. Today you have to earn 1,212 euros with a rate of 1.50%. But for this fall, the broker is forecasting an increase of 0.7 points, or a rate of 1.90% over 25 years. It would then be necessary to earn 100 euros more per month than in January, namely 1,270 euros.
The monthly payment of 100,000 USD credit naturally follows the same route. So in January it came to 386 euros, today 400 euros and this autumn it will probably be necessary to pay 419 euros, excluding insurance.
For a loan of 200,000 euros
To borrow 200,000 euros, still with an interest rate of 1.20% over 25 years and with a debt of 33%, you had to earn 2,339 euros per month in January. Today you should be paid 2,424 euros and according to the forecasts of Vousfinancer, with rates of 1.90%, this fall you will have to earn 200 euros more, or 2,539 euros.
As for the monthly payments, for 200,000 euros of credit excluding insurance you had to pay 772 euros in January and 800 euros today. This fall you will pay 838 euros per month.
For a loan of 300,000 euros
To be able to borrow 300,000 euros in January with an interest of 1.20% over 25 years, you had to earn 3,509 euros. Today you have to be paid 3,636 euros and at the end of the year you will have to earn 300 euros more than at the beginning of the year, that is 3,809 euros.
As for monthly payments, they are likely to rise sharply as well. For example, in January they stood at 1,158 euros, in April at 1,200 euros and at the end of the year 100 euros more per month will have to be paid than in January (1,257 euros), according to estimates by Vousfinancer.
