Borrowing Power Calculator
Borrowing Power Calculator
The borrowing power calculator gives you an idea of what amount you may be able to borrow up to, guiding you towards which houses may be in your price range when beginning your search. This is incredibly useful before commencing your home buying process, as it sets a realistic financial starting point for you to work towards when shortlisting possible homes for inspection. The more accurate the details are that you enter, such as your monthly income and expenses, the closer the guide is likely to be to your actual borrowing power (subject to your individual circumstances).
In this calculator, you can also adjust interest rates and loan terms (1-30 years) to see how your repayment amount would change respectively, and how you could potentially save on interest by taking the loan over a shorter term.
* The calculator below has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. Borrowers should always discuss their individual situation with an Australian Credit Licensee or authorised Credit Representative.