How Much Can You Really Borrow? Find Out Now!

Understanding Your Borrowing Power,

Understanding your borrowing power is the first crucial step in your home-buying journey. It's not just about how much you want to borrow; it's about how much the lenders are willing to lend you based on your financial situation. This can vary significantly depending on several factors.

Your income is a primary determinant, but lenders also look at your monthly expenses, existing debts, and even your savings habits. They assess your ability to repay the loan comfortably without putting undue stress on your finances. For couples, your combined income and expenses are taken into account, which can sometimes increase your borrowing capacity.

Another critical factor is your credit score. A higher credit score generally means you’re seen as a lower risk to lenders, which can increase your borrowing power and help you secure a better interest rate. It’s a good idea to check your credit report before applying for a loan to ensure everything is in order.

If you're curious about how much you might be able to borrow, I encourage you to use our borrowing power calculator for a quick estimate. However, for a more personalised assessment, it’s best to sit down with a mortgage broker who can take all your unique circumstances into account.

Reach Out Today!

Let’s chat about your financial situation and goals to determine your borrowing power. It’s the first step towards making your home ownership dreams a reality!

*Disclaimer: The content provided is for informational purposes only and is not financial advice. Please consult a professional advisor to discuss your specific situation.*