MyInvestor requires €4,000 monthly salary for €100,000 mortgage
MyInvestor offers a fixed-rate mortgage at 3.10% TIN but demands a net monthly income of €4,000. Simulations with €1,500 salaries suggest viability at 2.7%.
English · Original discussion in Spanish · Published
MyInvestor demands €4,000 net monthly income for a €100,000 mortgage
The offer is on the table: a fixed interest rate of 3.10% TIN and 3.38% APR, with no requirements other than direct depositing your paycheck. The problem is that this paycheck must exceed €4,000 net per month. For a loan of just €100,000. It is a textbook paradox: the bank offers its best interest rate to a profile that, with such income, does not need to borrow one hundred thousand euros to buy an apartment. This figure has circulated in economic forums for months and has sparked debate about access to housing.
What exactly does MyInvestor require and why?
The product is a fixed-rate mortgage with competitive interest, but with an entry barrier that excludes most people. According to published conditions, simply direct depositing a salary higher than €4,000 is enough to access the 3.10% TIN. There are no mandatory insurance policies or other linked products. The trap lies in the income requirement, not in the interest rate.
The bank's logic is simple: if someone earns €4,000 net per month, they can afford installments up to €1,200 without the loan exceeding 30% of their income. This is the classic debt capacity criterion. The bank wants no surprises. It wants clients who do not default.
Other institutions apply the same standard. Banca March requires savings greater than 20%, minimum combined income of €4,000 per month among all holders, and a minimum financing amount of €150,000 for transfers or €250,000 for new mortgages. It is not a whim of a single bank.
The calculation debunking the clickbait: Is it viable with lower incomes?
Some argue that simulations disprove part of the scandal. With a salary of €1,500 and a 20% down payment, the entity's calculator offers an interest rate of 2.7% for a €100,000 mortgage. The system considers the operation viable. Whether the bank actually closes it under those conditions is another matter.
The difference between the headline and the fine print lies in the profile. For a €100,000 loan, a couple earning €2,000 net each totals €4,000 and meets the requirement. This is not an executive salary; it is two average salaries. The bank does not ask one person for €4,000, it asks for €4,000 among all holders.
Some calculate that, item by item, it is better to take out a mortgage as soon as possible with a rate close to inflation than to save 75% of your salary for years to gather the 20% plus expenses and taxes.
The headline trap: Mortgages for foreigners and high-income profiles
Some claim that fewer than 10% of the Spanish population meets these conditions. The argument is that these products are designed for foreigners, especially Americans, whose salaries double those of a Spanish civil servant. The bank is not looking for volume; it is looking for profitability.
On the other hand, any institution has the right to set its terms. If it is not interested in lending below €100,000 because profitability is minimal, it says so plainly. Supply is free. Demand is too.
What is true is that the mortgage market has tightened. The guarantees banks demand today have nothing to do with those from the bubble era. Mortgages without collateral, without proof of income, or without a down payment are over. Now, 20% savings, stable income, and often insurance and cross-selling are required. Antiestéticar of repeating the crisis weighs more than commercial ambition.
Context: Exhausted debt capacity and inflated prices
Household debt capacity has been exhausted for years. Salaries are not rising at the pace of housing prices, and banks have chosen to restrict credit rather than assume risks. Impossible conditions are an elegant way of saying no.
With current prices, a €100,000 mortgage barely covers a down payment in many capitals. In Madrid or Barcelona, this amount does not even reach 30% of an average apartment. The debate on whether to buy or rent reopens every time conditions like these are published.
The question is not whether the bank is right to ask for €4,000. The question is how many Spaniards can afford to apply for a mortgage without the bank demanding a salary they do not have.
The offer is on the table: a fixed interest rate of 3.10% TIN and 3.38% APR, with no requirements other than direct depositing your paycheck. The problem is that this paycheck must exceed €4,000 net per month. For a loan of just €100,000. It is a textbook paradox: the bank offers its best interest rate to a profile that, with such income, does not need to borrow one hundred thousand euros to buy an apartment. This figure has circulated in economic forums for months and has sparked debate about access to housing.
What exactly does MyInvestor require and why?
The product is a fixed-rate mortgage with competitive interest, but with an entry barrier that excludes most people. According to published conditions, simply direct depositing a salary higher than €4,000 is enough to access the 3.10% TIN. There are no mandatory insurance policies or other linked products. The trap lies in the income requirement, not in the interest rate.
The bank's logic is simple: if someone earns €4,000 net per month, they can afford installments up to €1,200 without the loan exceeding 30% of their income. This is the classic debt capacity criterion. The bank wants no surprises. It wants clients who do not default.
Other institutions apply the same standard. Banca March requires savings greater than 20%, minimum combined income of €4,000 per month among all holders, and a minimum financing amount of €150,000 for transfers or €250,000 for new mortgages. It is not a whim of a single bank.
The calculation debunking the clickbait: Is it viable with lower incomes?
Some argue that simulations disprove part of the scandal. With a salary of €1,500 and a 20% down payment, the entity's calculator offers an interest rate of 2.7% for a €100,000 mortgage. The system considers the operation viable. Whether the bank actually closes it under those conditions is another matter.
The difference between the headline and the fine print lies in the profile. For a €100,000 loan, a couple earning €2,000 net each totals €4,000 and meets the requirement. This is not an executive salary; it is two average salaries. The bank does not ask one person for €4,000, it asks for €4,000 among all holders.
Some calculate that, item by item, it is better to take out a mortgage as soon as possible with a rate close to inflation than to save 75% of your salary for years to gather the 20% plus expenses and taxes.
The headline trap: Mortgages for foreigners and high-income profiles
Some claim that fewer than 10% of the Spanish population meets these conditions. The argument is that these products are designed for foreigners, especially Americans, whose salaries double those of a Spanish civil servant. The bank is not looking for volume; it is looking for profitability.
On the other hand, any institution has the right to set its terms. If it is not interested in lending below €100,000 because profitability is minimal, it says so plainly. Supply is free. Demand is too.
What is true is that the mortgage market has tightened. The guarantees banks demand today have nothing to do with those from the bubble era. Mortgages without collateral, without proof of income, or without a down payment are over. Now, 20% savings, stable income, and often insurance and cross-selling are required. Antiestéticar of repeating the crisis weighs more than commercial ambition.
Context: Exhausted debt capacity and inflated prices
Household debt capacity has been exhausted for years. Salaries are not rising at the pace of housing prices, and banks have chosen to restrict credit rather than assume risks. Impossible conditions are an elegant way of saying no.
With current prices, a €100,000 mortgage barely covers a down payment in many capitals. In Madrid or Barcelona, this amount does not even reach 30% of an average apartment. The debate on whether to buy or rent reopens every time conditions like these are published.
The question is not whether the bank is right to ask for €4,000. The question is how many Spaniards can afford to apply for a mortgage without the bank demanding a salary they do not have.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (139 replies).
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