Borrowing Capacity Calculator

The How Much Can I Borrow Calculator will help give you the confidence to purchase your first home.

Do your sums and discover your borrowing capacity based on your current income and expenses.

It is important to note that your borrowing power will vary between lenders and is dependent on your circumstances, interest rates and your preferred lender’s lending policy.

Increasing the interest rate in the calculator will reduce how much you can borrow over the loan term. Have you factored in some contingency for this scenario?

Find Out Your Maximum Borrowing Capacity

Joint application:
Number of dependants:
* Net salary 1:
Net salary 2:
Other net income:
   
Monthly car loan payments:
Do you have credit cards?
Do you have other payments?
Other payments type:
   
What is your first name?
Please enter your surname
What is your best contact number?
Preferred Call Back Time
Please enter your email address
What is your postcode?
  Subscribe to our newsletter
   
What are you borrowing for?
Interest rate information:
General information:
Your current position:
Deposit in hand:
 

Your privacy is important to us! We will never sell or spam your email address.

Your expenses calculated will depend on whether it is a single or joint application, and how many dependants you have (people you support financially, like children).

In addition to your maximum borrowing power, the calculator will also provide you with an estimate of your monthly loan repayments so you can look for a home with the confidence of knowing how much you can really afford to borrow.

Tips

  • Cancel Credit Cards you don’t use – lenders will take these cards into account when the calculate how much you can borrow regardless of whether they are being used.
  • Consolidate personal debt – look at the opportunity to consolidate any personal loans which have a higher rate of interest and impact on your borrowing capacity.
  • Check the interest rate on any store cards from a department store and look at the opportunity to consolidate as they will impact the amount you can borrow.
  • Family benefit payments are considered by some lenders when determining your borrowing power.
  • The answer to ‘How much can I borrow for an investment property?’ can vary greatly between lenders due to their treatment of rental income and negative gearing.
  • Reducing your credit card limit will improve how much you can borrow on your home loan.
  • Is your financial situation or employment likely to change in the near future? Ask yourself ‘How Much Can I Borrow? or should I borrow’ based on this.
  • The amount you can borrow reduces as you reduce the loan term but the interest you pay also reduces.

"Our Loan Market mortgage broker made the home loans process easy."

Elizabeth & Cuong, Westleigh

Customer Feedback