When you want to purchase a property In Chile, many people wonder how much they should earn monthly to access a mortgage loan that allows them to buy an apartment. This calculation depends on several factors, such as the location of the property, the value of the property and the conditions of the credit, including the interest rate and the term of the loan.
One of the most important elements to consider is the salary necessary to qualify for a mortgage loan, since banks usually require that the dividend not exceed a percentage of the applicant’s monthly income. For those looking for an apartment in cities such as Puerto Varas or Viña del Mar, the salaries required are considerably high due to the average value of properties in those areas.
For example, in Puerto Varas, the average value of a department new is 6,914 UF, which generates a monthly dividend of $1,202,367. To qualify for a mortgage loan that covers this amount, it is estimated that the applicant would have to earn approximately $4,809,469 per month. This is one of the highest amounts in the country, compared to other cities.
On the other hand, in towns like Los Angeles or Calama, the salaries necessary to acquire an apartment are more accessible. In Los Angeles, an apartment has an average value of 2,899 UF, with a dividend of $504,146, which requires a monthly income of $2,016,582. Meanwhile, in Calama, the estimated minimum income to access a mortgage loan is $1,967,889.
Although the dream of purchasing property is possible in many parts of the country, where you buy can make a big difference in how much you need to earn. Cities with high levels of tourism or urban development tend to have higher values, while in others, where demand is lower, the prices They are more accessible.
