How much do you have to earn to get a mortgage?

Mortgages are a product worth looking for a little longer. If you want to know how to apply for it, what offers to look for and the most important – which conditions should be met, this text is for you.

Creditworthiness – this is the slogan that almost every mortgage applicant is afraid of. True, ability plays an important role, not only with a mortgage.

Remember, however, that the requirements of banks are not always identical, so in one bank your mortgage application may be rejected, and in another accepted without reservations.

What affects creditworthiness?

Financial conditions – in which bank to take a mortgage?


Mortgages differ in terms of the contract – depending on the bank you will need other documents and the bank will pay attention to other factors. It is also important what property you plan to buy.

Due to different conditions for obtaining a mortgage, it is worth checking the offer of at least several banks.

Tip 1: GFI mortgage

There is no clear answer to the question: ” mortgage – where is the best? “Because everyone will not be awarded the cheapest offer on the market. Also, remember that a mortgage is a commitment for years, so even if you didn’t get a favorable offer today, you can transfer your mortgage to another bank in a year or two.

Tip 2: Good Lender mortgage

The bank assesses creditworthiness not only on the basis of income but also on the type of employment contract. An employment contract of indefinite duration is given priority, but currently, even people working on a mandate contract can apply for a mortgage – provided that the continuity of orders over the past 12 or 24 months (depending on the bank).

Tip 3: Good Finance mortgage

Credit history is checked, maintenance costs are verified. A single mortgage will be harder to get in the case of average earnings and no permanent contract. Two salaries mean higher income, a greater guarantee of loan repayment if one of the people stops working.

How to lower your installments and in which bank to take a mortgage?


Transferring a mortgage to another bank may make the loan more advantageous and installments lower.

This is called refinancing, which involves repayment of a more expensive loan from a new, cheaper loan. Mortgages should be refinanced when you took out a loan on unfavorable conditions.

Thanks to refinancing, you can also consolidate loans secured by a mortgage. One installment, instead of several, can be much more profitable, and certainly more convenient.

If you decide to transfer your loan, be sure to check the fees associated with it. Compare the current credit conditions with the offers from several other banks and on this basis make the final decision to change the liability.

Is it possible to get a second mortgage?


Buying another apartment is a good investment, but few people can afford to pay for it in cash. The conditions for obtaining a mortgage when you take the second and subsequent offer may be a little easier. Of course, when you take a second mortgage, you still need to have credit standing.

The bank may also offer you a combination of two loans into one, but additional mortgage collateral may be required, e.g. by purchasing additional insurance.

Mortgage comparison service – which bank has the best offer?

Regardless of whether you take a mortgage for renovation or a mortgage for building a house, you need to find the best offer, including our Good Lender mortgage comparison tool. Enter the loan amount and repayment period and you will see which bank currently provides the best contract terms.

We checked the price of a USD 200,000 loan with a repayment period of 20 years.

How does the mortgage calculator work? 


Use the simple Good Lender tool to calculate the installments in a given bank. Thanks to it you will immediately know which mortgage loans meet your expectations.

All you have to do is enter the basic information: loan amount, repayment period and interest rate.

The mortgage repayment schedule will be displayed – for comparison – in fixed and decreasing installments. You can click “Find the best loan” to see which banks offer the terms you are interested in.

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