Consider that Real estate project or other investments often require a loan from a bank. For people with this monthly income, the question is naturally how much can be borrowed with a salary of 3000 euros. To help you see things more clearly, we have gathered the necessary information on this topic.
If you’re looking for a mortgage, you can use these online comparators to find the best rate:
We recommend that you do a simulation to compare the offers according to your situation.
How is borrowing capacity calculated?
The amount you can borrow mainly depends on your borrowing capacity.
Calculating your borrowing capacity is up to you SalaryYour fees and other potential income, as well as the loan repayment period and the applicable interest rate.
The best way to quickly assess your borrowing capacity is to use an online simulator, which will take all these factors into account to give you an approximate amount.
It is an essential criterion to evaluate your borrowing capacity debt ratio. This is the ratio between your monthly expenses (current credit, rent, alimony, etc.) and your income.
A general rule of thumb is to not exceed your debt ratio 33% of your income. With a salary of 3,000 euros per month, your monthly charges should ideally not exceed 990 euros to get your credit.
How much can you borrow with a 3000 euro salary?
In February 2024, many factors will directly affect the amount you can borrow with a monthly salary of 3000 euros.
Interest Rate: They vary depending on financial institutions and time periods. The lower the rate, the more you can borrow on a consistent monthly payment.
Loan Tenure: The longer the repayment period, the bigger the amount you can borrow. However, this option usually increases the total cost of credit.
Best current rates if you earn €3,000 per month
With a monthly salary of €3,000, your annual salary is €36,000 excluding bonuses. With such a salary, here are the rates that banks will offer you depending on the tenure:
| 15 years | 20 years | 25 years |
|---|---|---|
| 3.90% | 4.06% | 4.20% |
To give a rough estimate, consider that you have no special expenses and your debt ratio remains around 33% (ie €990/month).
With a salary of 3000 euros (without taking into account insurance and other expenses), then you can borrow an amount of:
| 15 years | 20 years | 25 years |
|---|---|---|
| €113,000 (€903/month) | €135,000 (€897/month) | €155,000 (€909/month) |
However, these figures remain approximate. They represent only the monthly payment and its interest. They are subject to variation based on actual interest rates and your individual situation.
If you’re looking for a mortgage, you can use these online comparators to find the best rate:
We recommend that you do a simulation to compare the offers according to your situation.
Even with a monthly salary of 3000 euros, it would be difficult to borrow a large enough amount to finance a real estate project or other investment. To get an accurate estimate, do not hesitate to consult a financial advisor and compare the offers offered by various banking institutions.
