Financial check-up
Get a detailed analysis of your financial situation and discover savings opportunities, optimise your resources and take control of your finances.
Talk with us!
A Credit Intermediary near you!
FAQ
What is the debt-to-income ratio?
The debt-to-income ratio represents the percentage of the household's monthly net income used to pay loans and other monthly financial commitments. It is one of the main indicators analysed by banks when assessing credit applications.
What is the maximum debt-to-income ratio to apply for credit?
Banco de Portugal recommends that monthly financial commitments should not exceed 35% to 40% of the household's net income. For example, with a net income of EUR2,000/month, total credit commitments should not exceed EUR700 to EUR800 per month. A free financial check-up with Maxfinance helps you understand exactly what your financing capacity is.
How can I improve my debt-to-income ratio?
There are several ways to improve the debt-to-income ratio: settle or reduce existing loans (personal, car, cards), increase income (including a second holder with income), extend the mortgage loan term to reduce the instalment, or renegotiate the conditions of current loans.
How do I know if I can apply for credit?
Banks analyse income, existing monthly commitments, professional stability and credit history (Banco de Portugal Credit Responsibilities Map). Maxfinance offers a free analysis of your financial profile, with no commitment, to understand your chances of approval and under what conditions.
Does having a credit card affect a mortgage loan?
Yes. Credit cards and other existing financing are included in the calculation of the debt-to-income ratio analysed by the bank, even if you are not using the available limit. Some banks consider a percentage of the card's available limit as a monthly commitment. It is important to manage credit cards consciously before applying for a mortgage loan.