To buy an apartment with a mortgage in Moscow, you need an income of 200 thousand rubles

To buy an apartment in Moscow using borrowed funds, you need to earn at least 200 thousand rubles per month. The salary that is comfortable for obtaining a mortgage was calculated by SIS Development. The results of the study are published by Gazeta.Ru.

According to the founder of the company, Yaroslav Gutnov, now most banks approve a mortgage if the debt load does not exceed 50 percent. With the average cost of a two-room apartment in new comfort-class buildings in “old” Moscow being 23 million rubles, the monthly payment at the market rate of 18.7 percent (with an initial payment of 20 percent and a term of 30 years) will be 288 thousand rubles. Accordingly, the payment amount must be half of the applicant’s official income. For the preferential program, the payment amount will be 110 thousand rubles.

Thus, according to the company’s calculations, to obtain a family mortgage at 6 percent per annum, a Muscovite must earn at least 220 thousand rubles per month. This figure exceeds both the average salary in Moscow (180 thousand rubles) and the most common salary (90 thousand rubles). However, if spouses act as co-borrowers, they will have a better chance of getting approval from the bank, Gutnov noted.