Questions and Answers about Mortgage Financing
Financing does not have to feel like a maze of technical terms. At FINOVA, we believe clarity is the first step towards a smart decision. Explore our Practical Guides and FAQ centre to understand the financial language and every step of the process — without fine print and without complications.
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What is the effort rate, and what should mine be?
The debt service ratio measures the relationship between a customer’s total monthly loan instalments and net monthly income. Lenders use this indicator to assess repayment capacity. As a rule, the total monthly instalments, including the new loan and any existing credit instalments, should not exceed 50% of the customer’s net income (income after taxes and mandatory Social Security contributions).
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