"How much can I borrow?" is usually the first question we hear. The honest answer is: it depends — but on a fairly predictable set of factors.
What lenders assess
- Income — your salary, and how stable and provable it is. Self-employed income is assessed differently.
- Expenses — your living costs. Lenders use your declared expenses and benchmarks.
- Existing debts — credit cards, car loans, HECS/HELP and other commitments reduce your capacity.
- Deposit and LVR — a larger deposit can open up more (and cheaper) options.
- Assessment rate — lenders test your loan at a higher "buffer" rate to make sure you could cope if rates rose.
Get an estimate
Our borrowing power calculator gives an indicative figure based on your income and expenses. It's a guide only — your real capacity depends on the lender and the full picture.
How to improve your borrowing power
- Reduce or close unused credit card limits
- Pay down or consolidate other debts
- Keep your spending tidy in the months before you apply
- Consider a slightly longer loan term (lower repayments, more interest overall)
Why it pays to use a broker
Different lenders calculate borrowing power differently — the same applicant can be offered very different amounts. We know which lenders suit which situations, so you're not relying on a single bank's formula.
Get your real borrowing power with a quick, no-obligation chat.