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Calculating your maximum mortgage

Calculating your maximum mortgage and gross monthly payments

Do you want to know how much money you could borrow to buy a house? Or do you want to know how much you would have to pay per month? Calculate your maximum mortgage. The mortgage calculator tells you roughly how much you could borrow and what your consequent monthly payments would be. If you are self-employed, you can calculate your maximum mortgage. Just use our mortgage calculator (in Dutch) and discover whether that dream house could become reality. 

Maximum mortgage and monthly payments calculated? Now what?

When the calculator has finished, you get a personal mortgage calculation in PDF format which you can choose to either print or save. After receiving your calculation you can also immediately make an appointment for a free consultation. An adviser can then work out exactly what buying your new house would really cost and how much you are allowed to borrow responsibly.

Are you buying an existing or a new-build property?

When buying a property there’s more to be paid than just the purchase sum. The type of property you are buying affects the cost. So if you are buying a new-build property there is no appraisal cost or property transfer tax to consider. An indication of the additional costs is provided below. The following example is based on a purchase sum of €200,000, with a loan covered by the National Mortgage Guarantee (NHG).



Your income and maximum mortgage

The mortgage you can take out depends on your income. Are you an employee, self-employed or a pensioner? A mortgage is all about customisation. Therefore the way you earn your income affects how much you can borrow.

Income

Want to take out a mortgage or looking for a property? If so, it is advisable to first see how much you can borrow based on your income. The size of your income is one of the factors determining the mortgage you can take out.
How does our mortgage calculator work?
• If you are an employee we calculate your mortgage based on the income stated on your employer's statement.
• If you are self-employed or a flex worker, your annual figures determine your income.
• If you will be retiring soon, we will take into account both your current and your future incomes.
• Do you want to buy a house with somebody else and do you both have an income? In that case both incomes combined determine the maximum amount you can spend on your property.

Borrowing responsibly

Borrowing responsibly means living with fewer worries. That is why we also take into account your total monthly expenses and estimate how much of your monthly income you can spend on your property. To estimate this we use the maximum mortgage burden or woonquote, which is determined by the Dutch National Institute for Family Finance Information (Nibud) every year.



Property value and maximum mortgage

The value of the property that you are looking to buy also determines the size of the mortgage you can take out. Your property is the collateral for your loan. In 2016, you are allowed to borrow up to 102% of your property's value, though this percentage will be lowered by 1% each year up until 2018.

Property value

Have you found a house? The property value also determines the size of the mortgage you can take out. Your property is the collateral for your mortgage. The property's market value also determines how much you can borrow.

What is the market value?
• For an existing property, a surveyor establishes the market value of the property in an appraisal report.
• If you are planning a renovation or conversion, the surveyor will establish the market value of the property after its renovation or conversion. If you are buying a new-build property, its market value is the sum of:
• The purchase sum of the property (contractor's sum), including the construction interest. The construction interest is all the interest that you pay while the property is being built.
• Additional work. This is any extra work that the contractor carries out on your request, for example installing more electric sockets or putting in a dormer window.
• Loss of interest. This is the difference between the mortgage interest paid and the interest you receive from your construction loan. You have to cover this loss of interest yourself. We set a maximum of 4% of the purchase sum, including the additional work, for the loss of interest.

Borrow up to 101%

In 2017, you can borrow up to a maximum of 101% of your property's value. This means that you can no longer include so-called purchasing costs (kosten koper) in your mortgage loan. The percentage that you can borrow will be lowered by 1% each year up until 2018. This means that in 2018 you will only be able to take out a mortgage for a maximum of 100% of your property's value

Can I include the costs of a renovation or conversion in my mortgage?

Whether or not you can include renovation or conversion costs in your mortgage loan depends largely on the appraisal value of the property after its renovation or conversion. The appraisal value determines the size of the mortgage you can get. You can take out a mortgage for up to 102% of the property's new value.

Replacing a kitchen because you do not like the colour will not increase the appraisal value. But what if you are replacing it because it is outdated? In that case, the appraisal value almost definitely will increase. If for example you buy a new kitchen for €20,000 and the appraisal value increases by €15,000, you can include that €15,000 in your mortgage loan. You will have to cover the remaining €5,000 yourself.

Construction loan

If you are able to include a renovation or conversion in your mortgage, the relevant part of the mortgage is considered a construction loan which you can use to pay for the renovation or conversion.

mortgage advise?

Talk to a mortgage adviser. In one of our office or from the comfort of your home through your computer or tablet with Webcam Mortgage Advice. Seven days a week, in weekdays in the evening in weekends on Saturday and Sunday too.

Are you looking for a mortgage?

Check the current interest rates

actuele hypotheekrente - hypotheekrente vergelijken

Found your dream house? Now you need to find a mortgage. Preferably one with a very good interest rate. We are happy to help. Check our current interest rates. Clear and always up-to-date.