Calculate your budget

Monthly income

This is the total amount of money earned in the month after taxes and other deductions. If you have a co-borrower, also add their income to get the total.

Monthly debts

These are your monthly expenses such as your car loan payments, or other consumer loans, for example. So, if you have a monthly payment of 2500 MAD for your car and a minimum payment of 500 MAD for a household appliance loan, your monthly debt will be 3000 MAD.

Deposit

The money you bring for the purchase of your apartment or house. Most banks ask for a deposit between 10% and 20% of the price of the house. The larger your contribution, the lower your monthly payments will be. For a 1,000,000 MAD apartment, a 10% down payment is 100,000 MAD and a 20% down payment is 200,000 MAD.

Debt ratio

Your total monthly debt payments divided by your monthly income, which is shown as a percentage. Your debt ratio is a way for banks to measure your ability to manage monthly payments and repay the money you plan to borrow. Our budget calculator suggests a debt ratio of 45% by default. The maximum debt ratio allowed varies according to the banks and your profile.

Interest rate

The amount a bank charges you for taking out a loan. Generally, the interest rate is expressed as an annual percentage of the outstanding capital. The borrower makes payments (with interest) to the bank over a fixed period until the loan is fully repaid. Our budget calculator uses the current national average interest rate.

term of the loan

The duration during which you will repay your apartment or house: the calculator automatically takes a duration of 25 years (300 months), which is the most common duration. You can modify the duration of your loan in the advanced options.

Housing tax

The amount you pay for property taxes can affect your ability to borrow. The budget calculator includes a base amount, but you can change it in the advanced options.

Home Insurance

Most banks require home insurance. it protects your home in the event of a disaster: fire - water damage... Home insurance will cost you around 350 MAD per year for basic guarantees.

Borrower insurance

It protects you in the event of disability, incapacity or death and covers all or part of your debt (depending on the conditions of the contract). The amount of this insurance is calculated as a percentage of the loan amount and can be paid in one go in advance or spread over the repayment period (this rate varies from 2.5 to 3.5% of the amount borrowed).