EnglishAna SĂbiescu
Up to 53,497 EUR is what a family with a net average income of 4,000 RON can borrow to buy a three-room apartment priced at 70,000 EUR, according to a calculation made by mortgage loan broker CreditZone. The family in question, husband and wife without children, has no other financial debts and no property to their name and would take the loan for the maximum duration allowed by the bank.
The maximum level above would be available from Raiffeisen Bank in exchange for a monthly payment of 465 EUR. In turn, Banca Comerciala Romana would give up to 50,000 EUR for 382 EUR per month, while Alpha Bank is ready to offer up to 49,500 EUR for a monthly payment of 433.66 EUR. The next in line is Banca Romaneasca with 47,174 EUR and a monthly payment of 392.96 EUR. ATEbank would offer 46,761 EUR, according to the CreditZone scenario, for a monthly payment of 360.7 EUR.
The Romanian subsidiary of the Royal Bank of Scotland would offer up to 40,485 EUR for a monthly payment of 412 EUR. The last position in the ranking made by the mortgage loan broker goes to Bank Leumi Romania, where the loan would be 38,800 EUR, for a monthly payment of 326.53 EUR.
In all cases, the applicant would have to make a down payment of 25% - or 17,500 EUR in this specific scenario created by CreditZone - and borrow the remaining 75% or 52,500 EUR in the simulated example. The only bank willing to offer sufficient funds to buy the three-room apartment would be Raiffeisen Bank. In all other cases, the applicant would need an increased income base, which would require a co-debtor.
Private banks define the maximum acceptable debt-to-income ratio and eligibility criteria for each category of customers through internal norms in line with the regulations of the National Bank of Romania. One of the conditions is a minimum salary. The calculation of the maximum acceptable loan includes sustenance expenses of the applicant
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