How much can I borrow?

"How much can I borrow?” is an important question but, unfortunately, there’s not always a simple answer. First, you need to know what lenders are looking at when assessing your ability to repay the loan.

Lenders consider many factors when making the decision as to how much you can borrow:

  • Income
  • Savings history
  • Loan-to-value ratio
  • Credit rating/history
  • Length of employment
  • Amount of deposit or equity
  • Debt-to-income ratios

Other factors that lenders consider are your lifestyle and spending habits, age, and other personal factors.

Lending guidelines vary among lenders—meaning some lenders have stricter requirements than others. We often see differences of over $200,000 between lenders. This is why we suggest speaking with a mortgage broker rather than a lender, as we can access all of our lenders’ calculators, which include all major Banks, to give you a true maximum amount you can borrow.

So, if you need to know, “How much can I borrow?” all of these factors should be taken into account to give you an accurate figure. 

Request your FREE Borrowing Capacity Report and one of our consultants will contact you to discuss your options.