Need to know How Much Can I Borrow, everyone’s financial situation is unique, there are so many variables in life, try out our how borrowing capacity calculator that takes into consideration all of these factors and provides you with the answers you need today.
How to use the How Much Can I Borrow Calculator
Enter your loan details
- For example, a typical variable rate loan in the current market might have a loan term of 25 to 30 years, with an interest rate of 5.0% to 6.0%.
Enter your income
- Choose whether this will be a single or joint application
- Net income is your salary / wage after tax
- Other income is any other regular income you receive, such as rental income from an investment property
Enter your expenses
- Car loan expenses if applicable
- Other expenses, include for example personal loans or another home loan you may have
- Remember to include your partner’s credit card limit as well, if you’re planning to lodge a joint application
What’s my next option?
If you’re actively looking to buy a property soon, it’s a good idea to get a formal home loan pre-approval, which will provide you with an accurate assessment of your borrowing capacity and confirm your home loan repayments and all associated costs, get an Ocean Home Loans mortgage broker to answer that all important question “how much can I borrow” today.
Ocean Home Loans mortgage brokers will be able to help you find a suitable loan from over 600 products and 30 different lenders and get a pre-approval quickly and easily, at no cost to you. If you would like to find out more then please call us now on 07 5593 1420 or enquire online and we will contact you as soon as possible to discuss all your options and secure you the best financial solution for your current needs.
If you’re still in the early stages of house hunting and want to do some more research, other than how much can I borrow, you might find these other tools useful:
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Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. They are neither a quote nor a pre-qualification for a home loan.