SMBC Prestia told me I could borrow 320 million yen with a 50 million salary, roughly 6.4x my salary (what's written on my 源泉徴収 genseichoushuu aka yearly tax withholding, my total income is also 50 million since I don't have capital gains or other gains).
Does anyone know how they might have arrived at this number?
I'm calculating even with a Debt to Income ratio of 35%, 35 year loan, 0.8%, it should be much higher than this, since monthly payments are only 874k yen per month, while my takehome is 50 mil / 12 = 4.16m yen per month. That's only a DTI of 874 / 4160 = 21%.
Is there something else that's being considered? Wondering if they have a formula somewhere they're using to calculate this. I've heard people mentioning getting 8x income on their loans so was curious what's going on with my situation.
by floxik