Creditworthiness (bonita)
Bonita in English means creditworthiness: the bank's assessment of whether you can repay. Act No. 257/2016 Coll. requires the bank to assess creditworthiness before every mortgage. The bank adds up stable net income, subtracts payments on other loans, living costs and spending on dependants, and compares the result with its own internal DSTI and DTI thresholds. Credit history in the registers counts as well.
Example
An applicant with a net income of CZK 60,000 and no other debts passes the usual internal threshold of 45 % with a payment of about CZK 27,000. At 5.00 % over 30 years that corresponds to a loan of roughly CZK 5.0 m, while a couple with a net income of CZK 100,000 can reach about CZK 8.4 m. A consumer loan with a CZK 3,000 payment would cut the first applicant's limit by more than half a million.
In practice
Nothing lifts creditworthiness more than a co-applicant with their own income. Paying off small loans and cancelling unused credit cards helps too, since banks count the card limits. Income during a probation period or from a business that has only just started is often not recognised. Applying unprepared at several banks at once backfires: their enquiries then show up in your register report.
How it differs
DSTI and DTI are just two of the ratios the bank builds creditworthiness from. Scoring rates how reliable the client is, judging by history and profile, while creditworthiness measures the capacity to repay. The Consumer Credit Act has its own statutory name for the same assessment (úvěruschopnost).
Frequently asked questions
What does bonita mean?
Creditworthiness: how much the bank thinks you can safely repay, judged from your stable income, other debts, living costs and credit history. The law requires the bank to assess it before granting a mortgage.
How can you improve your creditworthiness for a mortgage?
Add a co-applicant with their own income, pay off small loans and cancel unused credit cards, whose limits banks count. Avoid applying during a trial period or right after starting a business.
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