You have found your dream home so you need a loan now. Nowadays it is cheaper than ever to take out a home loan. The interest rate is historically low and the Belgian has been confident about the future for several years. This can be seen in the large increase in loans taken out in recent years. Which loan best suits your real estate project depends on a number of factors and on the lender. To make a good decision, you must therefore spend some time behind your PC. If you do not have that time, we will probably have the cheapest providers in a row for you. That way you can easily draw a comparison.

How much can I borrow for my mortgage? 

How much can I borrow for my mortgage? 

And what will the monthly payment be? Nowadays you can find an answer to these questions very quickly online, long before you enter a bank. With so many lenders (traditional banks and other credit companies) fighting for attention, there is quite a difference in repayment between one or the other. Be sure to compare who offers you the best rates and conditions. Armed with your information, you can subsequently visit various banks. You will be surprised at how often banks are willing to negotiate. So make full use of it and play against each other. Banks would like to make a deal with you and are prepared to accommodate you.

You cannot just borrow any amount whatsoever. 

You cannot just borrow any amount whatsoever. 

A bank wants to be the first to know what your fixed income is. The loan may in principle not be more than a third of your income. If you have a partner who also works, the salary can be added and you can borrow more. The duration of the loan also plays a role. The longer you borrow the more money you ultimately pay, but on the other hand you have more room to live on; after all, the payment is spread over a longer period. The loan amount that lenders make available can vary greatly. So you must certainly compare the borrowing options to find the most affordable loan. It takes some time, but it is definitely worth it.

You see, your question: “How much can I borrow for my mortgage” depends on your circumstances. The credit provider must of course also eat, so you borrow at an annual percentage rate (APR) – that is the interest and the borrowing costs combined. The lowest APR usually means the lowest payment of those costs. Always read through all the conditions to be sure that the APR is not an entry-level campaign and may still be rising. On the provider’s website you can request a free quote with simulator tool. By entering some data in this calculator you know within a few minutes what your monthly payment will be. This way you can quickly see who comes out the cheapest and that is of course what you are looking for.

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