You want to buy a property worth 500 000 USD? Find out what is the salary needed to get a loan in the best conditions.

Whether to buy a house, an apartment or a property under construction, it is essential to know the amount of minimum wage to have to borrow the sum of 500,000 USD. Indeed, if your salary is not high enough, it is unlikely that the bank agrees to finance your project without guarantee or contribution. Explanations.

A maximum debt ratio of 33%

A maximum debt ratio of 33%

Before knowing if you are able to borrow 500 000 USD to realize your real estate purchase, it is necessary to calculate the rate of indebtedness. Most banks consider it unreasonable to go into debt beyond 33%, one-third of annual net income . The remaining percentage is called the rest to live. This is the amount of money you have left each month once the loan term is paid.

In some cases, it is possible to derogate from the 33% indebtedness rule because the bank does not rely on this criterion alone to make its decision. You therefore have every interest in having a broker accompany you to help you present your file in the best light.

What salary to borrow 500,000 USD?

What salary to borrow 500,000 USD?

This table determines what is the minimum wage to be collected to borrow 500,000 USD from the bank over terms of 20, 25 and 30 years.


Maximum monthly payment

Minimum wage


$ 2,083 

6,312  USD


$ 1,667

5,051 USD


$ 1,389

4,209 USD

In this table, the maximum monthly payment does not include the cost of the credit and related fees. The posted minimum wage corresponds to the minimum monthly wage necessary to avoid exceeding 33% of indebtedness.

So, if your salary is less than 6,312 USD, you will not be able to borrow 500,000 USD over 20 years. Similarly, if you want to borrow 500,000 USD over 30 years, you will have to justify a minimum wage of 4,209 USD. In this case, you will have to pay 1,389 USD each month to repay the loan.

Why do a real estate mortgage simulation online?

Why do a real estate mortgage simulation online?

The use of an online credit calculator can be useful for calculating the maximum loan amount, monthly payments and notary fees. Indeed, it is important to accurately estimate the total cost of credit before starting. This 100% free and non-binding tool helps you to find your project and your current income. It also saves you valuable time by comparing offers offered by credit institutions in less than 2 minutes.

Do not hesitate, make a feasibility study to check if a loan of 500 000 USD is possible.