Few people know that in all banks the loan amount strongly depends on the size of the client's income. Depending on this indicator, the amount of the requested loan may be seriously reduced, and if the allowable percentage of income is significantly exceeded, the application may be rejected.
Instructions
Step 1
To calculate the amount of credit that you can get, make calculations based on 4 main indicators:
• Credit term
• Credit amount
• Interest rate
• The maximum percentage of income that is acceptable to repay the loan.
Step 2
If you can choose the first three of the indicators described on your own from the terms of the credit program, then you need to find out the maximum percentage of income directly from a bank consultant. Usually this information is not advertised, but in consultation with the manager it is quite possible to find out.
Step 3
To calculate the loan amount that you can focus on, determine the amount of money that will be the maximum monthly payment. To do this, multiply your income by the marginal percentage that you found out at the bank. For example, your income is 18,000 rubles, and the maximum interest is 50. Therefore, the loan amount will be limited to a monthly payment of 9,000 rubles.
Step 4
There are many loan calculators on the Internet that allow you to calculate the loan amount by its term, size and interest rate. Find any of these calculators and enter the values you need. Usually the calculation shows the amount of the monthly payment. However, you already know its maximum size. Therefore, all that remains for you to do is to select the parameters of the loan (amount, term) in such a way that the received monthly payment coincides with the calculation of half of your income. As a result, you will find out the maximum loan amount that you can get from the bank, subject to other credit procedures.
