Does food subsidy on a card count towards the effort rate in home loans?
Not all income is considered by banks when calculating the housing credit effort rate, so find out if the meal allowance paid on a card is one of them.
Is the meal allowance considered in the effort rate when applying for a housing loan?
When applying for a mortgage, one of the main assessments made by the bank is the effort rate, that is, the percentage of the monthly income that will be allocated to the payment of the installments of the loan. Many customers question whether the food allowance paid on a card counts as income for this calculation.
The answer is yes: All banks consider food allowance, as long as it is a regular income.
Banks analyze all client incomes to assess their financial capacity and ensure they can support the housing credit payment without difficulties. Therefore, any fixed and predictable income, such as the base salary, regular subsidies (vacation, Christmas), and food allowance, is taken into account for the debt-to-income ratio calculation.
And if the meal allowance is paid by card?
Even when paid by meal card, the food allowance is still considered, as it is part of the monthly income and has a real impact on the customer's budget.
Other incomes that can be accounted for
In addition to the food allowance, there are other incomes that banks may accept for the effort rate calculation, provided they are constant:
- Regular prizes and bonuses;
- Fixed commissions.
- Recurring cost subsidies.
- Extra income or part-time work reported.
If income is not completely fixed, some banks may ask for more payslips to confirm its regularity before including it in the debt-to-income ratio calculation.
If you are thinking of buying a house and want to ensure that the bank correctly evaluates your income, confirm the criteria directly with the financial institution and provide the necessary documentation to maximize your financing capacity.
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