How much money you can borrow will depend on four things that we've outlined in a handy graphic below. If you'd like to get a calculated estimate of your borrowing power for a home loan, you can use our online home loan borrowing bower calculator.
Read on for a more in-depth explanation of four things that go towards calculating how much money you can borrow.
At the end of the day, how much you can borrow will be guided by your lender. Lenders and financial institutions have a responsibility to ask questions to ensure the amount you borrow suits your financial situation and that you'll be able to make the necessary repayments each month. Talk to a lender to discuss your situation and to find out how much you can borrow. By talking to a lender you’ll find out exactly what they will require from you for an application, and they’ll be able to go through different types of loans, rates and loan amounts and discuss how they affect mortgage repayments.
Remember, we offer a pre-approval service so you can shop for a property with more confidence. To organise a home loan pre-approval enquire online, call 13 14 22 or drop into your nearest branch and chat with one of our lending specialists.