How much do the youngest home loan borrowers earn?

According to the data of the bank “Citadele”, in the first half of this year, the borrowers of home loans were mostly residents between 30 and 39, but at the same time, the number of signed contracts also increased among young people with 80%. .

What industries do younger home buyers work in, and can you hope for a loan with a salary of 1,000 euros per month?

“Comparing the data for the first half of 2024 and 2023, it can be seen that young people’s interest in housing has almost doubled this year –

this year, almost every fifth or 18% of mortgage loan contracts were concluded with young people between the ages of 20 and 29,”

says Jānis Mūrnieks, head of the Private Person Service Directorate of “Citadele” bank. The bank’s data shows that the youngest borrowers of mortgage loans are between 20 and 22 years old. At the same time, it is understood that borrowers of this age often require the participation of their parents in the transaction, accepting the actions of a co-borrower (guarantor). Parents often help with the down payment as well. The bank’s data shows that the seniority of such borrowers is not long, mostly they work in customer service, marketing or in state and local government institutions, receiving an average salary of 1,000 euros.