We apply and manage mortgage applications above 1 mln.
Properties over a million have become more and more popular in the Netherlands. The application process and requirements are different for a high-risk mortgage. A principal amount varies per mortgage lender.
For example, if the property is worth more than € 1.000.000, the lender could finance between 80-90% of the market value. Besides, not all lenders offer loans over € 750.000.
It takes more time to approve a higher mortgage than a regular mortgage due to the risk factors. Other circumstances such as savings, investments, or additional properties add extra work to the mortgage application process. On average, mortgage applications for over a million can take from 4 to 6 weeks.
Many lenders assess high-risk mortgage applications separately. High-profile mortgage applications are discussed with a credit committee or top risk management team. To secure a mortgage of over a million, you must afford it.
Asking price: € 1,075,000
Salary needed: € 192.500
Monthly payments: € 4.571
Cash needed: € 31.560
Asking price: € 1.500.000
Salary needed: € 270.000
Monthly payments: € 6.421
Cash needed: € 39.940