How To Discover Your Borrowing Capacity
One of the first questions on any first home buyers mind is how much can I borrow?
The amount that you can borrow will vary between different lenders so it is worth asking your mortgage broker if you are unsure.
A key determining factor of what sort of house you will buy may rely on your borrowing capacity.
To find out how much you can borrow you can use an online home loan calculator.
It is quick and easy and extremely convenient. You can choose where and when you find out your information.
All you have to do is enter your income and living expenses into the calculator to get an estimate of what you may be eligible to borrow.
Finding out how much you can borrow before you start your house hunt can help to prevent disappointment further down the road.
By getting an estimate of what you may be able to afford you, can search for a home within your price range.
Another consideration is whether you are making a single or joint application. With so many aspects to think about why not ask for a little bit of extra help?
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.