The banns are published, the date is fixed, the big day is finally scheduled! It remains to define the budget to know if the reception will run way thousand and one night with many guests or in privacy in picnic mode in the countryside.
The wedding credit makes this day the one that corresponds most to all dreams. But, like any credit, the marriage loan involves a refund, so a solvency. The easiest way to prepare for this event is to calculate your borrowing capacity before you take out this marriage loan.
Why evaluate the borrowing capacity of a marriage loan?
The debt ratio of a household must not exceed 33% of the household’s income. The borrowing capacity takes into account the fixed charges or various ongoing credit repayments of the household to assess the maximum amount of the new monthly loan payment that will be contracted.
This amount, associated with the shorter or longer repayment period that the borrower chooses, will make it possible to fix the amount of the marriage credit. The future bride and groom will know if they will borrow € 3,000 to celebrate their happiness discreetly or if they can borrow € 5,000, or even borrow € 9,000 for a glitzy event.
Knowing its borrowing capacity is therefore the starting point of this new adventure and the lending institution will take it into account.
An unforgettable day thanks to the wedding loan
Since even this extraordinary and memorable event is subject to the same rules as any credit, Mademoiselle Leroy and Monsieur Petit will prepare their budget together.
They together earn € 3,500 in revenue. They live in an apartment whose rent is 550 € and refund a car credit of 200 €. With a current debt ratio of ((550 + 200) / 3500) x 100 = 21.43%, their borrowing capacity for the marriage credit is 11.57% of their income, ie a new maximum monthly payment of € 404.95.
Here is the basic sum for the calculation of their project. This amount allows for an online simulation before subscribing a marriage credit. And to throw the invitations.