Among the questions that banks and credit intermediaries hear most often is this: how much do I have to earn for a loan? There can be no blanket response because the income requirements also depend on the amount of credit desired and on the existing financial obligations.
In general, it can be said that the monthly net income should be at least €1,300. The more salary the employer transfers to the bank every month, the better. Of particular importance is also that it is a permanent job. Only in this way does the employment relationship with the bank represent the security required for a quick commitment.
As a result, workers with a fixed-term contract or during the probationary period can not receive credit. The same applies to apprentices and part-time employees with less than €1,300 monthly net. Without own income, so for example with the receipt of Local Germany, likewise no loan is possible.
What to do if the income is insufficient for funding?
If one’s own income is too low for financing, it is often possible to remedy this situation with the addition of a second applicant. Then there is not just one borrower to the bank, but two. This means double security for the money house and increases the willingness to loan approval. For example, applying for a joint application is possible for (married and unmarried) couples, but it is also possible for children to take a loan together with their parents or several friends.