What is the minimum salary for a mortgage?
There is no official minimum; the rule is about the monthly payment: for the state mortgage it should not exceed roughly 70% of the household's official income, for commercial mortgages 40–50%. In practice an 80,000 AZN loan over 25 years at ~8% means a payment of about 620 AZN, so at least 900–1,300 AZN of household income is needed. A spouse's income is counted jointly.
In a mortgage calculation the bank looks at two numbers: the household's verifiable monthly income and the sum of all loan payments. For the Fund's mortgage the income-burden threshold is softer because the rate is low and the term long. Informal income, bonuses and cash salaries are not counted, only income visible in ASAN Finance or a card statement. Below we give a simple formula and ways to make income "visible".
What you need
- 1 Official salary visible in ASAN Finance (at least 6 months, 12 at some banks)
- 2 Spouse's income as co-borrower (raises total income)
- 3 Low existing loan payments (they are deducted from income)
- 4 Monthly mortgage payment ≤ 70% of household income (Fund) / 40–50% (commercial)
Bank offers that fit this case
| Bank | Loan | Rate | Term | |
|---|---|---|---|---|
Yelo Bank
|
Yelo - Dövlət İpotekası | 8% | 300 mo. | Details |
Unibank
|
Unibank - Dövlət İpotekası | 8% | 300 mo. | Details |
Rabitəbank
|
Sərfəli ipoteka krediti | 8% | 300 mo. | Details |
ABB Bank
|
Tikinti Krediti | 4% | 360 mo. | Details |
Bank Respublika
|
Dövlət ipotekası | 8% | 300 mo. | Details |
Naxçıvan Bank
|
Dövlət İpoteka Krediti | 8%% | 300 ayadək mo. | Details |
|
ABB Bank
|
Mənzil Krediti | 4% | 360 mo. | Details |
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Kapital Bank
|
Partnyor şirkətlər üzrə ipoteka | 8% | 240 mo. | Details |
Sample calculation
Estimated figures for 80 000 AZN over 240 months at ~4% effective rate. The exact number depends on the bank.
How to apply?
What to watch for?
- ✓ If income falls short, extending the term (20 → 25 years) lowers the payment and the income requirement.
- ✓ Close small consumer loans 6–12 months before the mortgage; every 100 AZN of monthly payment "eats" about 10,000 AZN of mortgage capacity.
- ✓ Discuss full formalisation of your salary with your employer: a mortgage is impossible on an official 500 AZN but possible on an official 1,000 AZN.
- ✓ A parent or relative can act as co-borrower; some banks allow 2–3 borrowers.
Frequently asked questions
How much mortgage can I get on a 1,000 AZN salary?
With the state mortgage over 25 years at ~8%, about 85,000–90,000 AZN (payment ~700 AZN). With a commercial mortgage at a 40–50% threshold, about 50,000–60,000 AZN.
Is a mortgage possible with informal income?
Not with the state mortgage; official income is required. Some commercial banks consider it with a large down payment (30%+) and card turnover.
Is my spouse's income counted?
Yes; as co-borrower both incomes are added together. This is the most common way to raise the limit.
Related questions
Useful links
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