Borrowing Power Calculator
Your borrowing power is one of the first numbers worth understanding before you start seriously looking at property.
This calculator can give you an initial estimate based on information such as your income, expenses and existing financial commitments.
It can be useful whether you're buying your first home, moving to your next property or considering an investment purchase.
What Affects Your Borrowing Power?
Two people earning the same income won't necessarily have the same borrowing capacity. Lenders look at the wider financial picture when assessing how much you may be able to borrow.
Your Borrowing Power Can Change From Lender to Lender
There isn't one universal borrowing power calculation used by every bank. Lenders can have different policies around income, expenses, existing debts and how they assess whether you can comfortably service a home loan.
That's one reason speaking with a mortgage broker can be useful. Rather than relying on one bank's assessment, we can look at your circumstances and compare suitable options across a range of lenders.
How Much You Can Borrow vs How Much You Want to Borrow
A lender's maximum borrowing figure doesn't automatically tell you what loan amount will feel comfortable month to month. Your own budget, lifestyle and future plans matter too.
What Are You Planning to Do Next?
Your borrowing power is only one part of the picture. Where you go next depends on what you're trying to achieve.
Other Home Loan Calculators
Once you have an idea of your borrowing power, explore what different loan amounts and purchase costs could mean for you.