Does the food allowance on a card count towards the effort rate in housing credit?
Not all income is considered by banks when calculating the effort rate in housing credit, so find out if the food allowance paid on a card is one of them.
Is the meal subsidy counted in the effort rate when applying for a mortgage credit?
When applying for a housing loan, one of the main evaluations 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 loan installments. Many clients question if the food allowance paid on a card counts as income for this calculation.
The answer is yes: All banks consider the meal subsidy, as long as it is a regular income.
Banks analyze all client incomes to assess their financial capability and ensure they can support mortgage payments without difficulties. Therefore, any fixed and predictable income, such as base salary, regular allowances (vacation, Christmas), and food allowance, is considered in the debt-to-income ratio calculation.
And what if the meal allowance is paid by card?
Even when paid with a meal card, the food allowance is still considered, as it is part of the monthly salary and has a real impact on the customer's budget.
Other income that can be accounted for
In addition to the food subsidy, there are other incomes that banks can accept for the calculation of the effort rate, as long as they are constant.
- Regular awards and bonuses;
- Fixed commissions.
- Recurring cost allowances.
- Extra or part-time work income declared.
If income is not entirely fixed, some banks may ask for more payslips to confirm its regularity before including it in the effort rate 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 present the necessary documentation to maximize your financing capacity.
Find out also: Can workers decide where to receive the food allowance?
To know your effort rate and financial capacity and proceed with the hiring of your home credit, count on the credit intermediaries of Poupança no Minuto who help in the whole process, at no cost! Save yourself and let us find the best market conditions for you. Simulate financing here: