Question 1

How is my borrowing capacity calculated?

Accepted Answer

Lenders assess your income, expenses, existing debts, credit card limits and family situation to determine how much they will lend you. Each lender uses slightly different calculations, which is why a broker can often find you a higher borrowing limit than going direct.

Question 2

How accurate is this calculator?

Accepted Answer

This gives you a solid guide based on the information you provide. Your actual borrowing capacity depends on the specific lender and their current assessment criteria. We will give you a personalised figure when we review your details.

Question 3

What factors affect my borrowing power?

Accepted Answer

Income, employment type, number of dependants, existing debts, credit card limits, HECS debt and your deposit size all play a role. Lenders also factor in interest rate buffers when assessing serviceability.

Question 4

Can I increase my borrowing capacity?

Accepted Answer

Yes. Reducing credit card limits, paying down debts, increasing your income, and growing your deposit can all help improve your borrowing capacity. We can also look at lenders with more favourable assessment criteria for your situation.

Question 5

How quickly will I receive my borrowing estimate?

Accepted Answer

We will review your details and send you a personalised estimate within 24 hours. If you would prefer to talk it through, you can book a call with our team.

Borrowing Power Calculator

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