How much can you borrow in Denmark?
Your budget is set by two limits: your down payment and your gældsfaktor (total debt divided by yearly income). Here is the price you can reach.
highest price
Gross per month, before tax
How we calculate
How expensive a home you can buy is set by two limits. One is the down payment: you must put in at least 5 % of the price yourself (the 5 % rule), so a mortgage and bank loan cover the rest. The other is the gældsfaktor.
Gældsfaktor: ideally under 4
The gældsfaktor is your total debt divided by gross yearly household income. Above 4 is treated as high debt, and if you exceed both a gældsfaktor of 4 and 60 % LTV, Finanstilsynet requires a robust loan (fixed rate with amortisation).
The bank stress-tests you
The bank also assumes a rate 1 percentage point above the fixed mortgage rate, at least 4 %, and that you can service a 30-year fixed amortising loan. In practice the rådighedsbeløb (money left to live on) is often the real limit.
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