Your borrowing capacity will vary between banks and lenders because they all use different methods to assess your capacity and all have different lending criteria.
One of the most frequently asked questions in home finance is – how much can I borrow?
Your borrowing power will give you a good idea of how much you can borrow to purchase a property. As a guideline, when determining how much you can borrow banks and lenders will look at:
- Income and types of income e.g. casual, contract, full-time
- The size of the loan compared to the property value
- Number of dependents and their situation
- Credit card limits
- Type of loan
- General living expenses
- Current savings to be used as a deposit (if purchasing), and
- Existing asset position (including the size of your deposit)
For a detailed assessment of your borrowing capacity contact us at and we will provide you with a personalised indication of your capacity.
Tips on how to increase your Borrowing Power
- Pay off and close or reduce limits on any credit card or overdraft facilities
- Put a budget in place and stick to it. This will help you to improve your deposit and savings history
- Pay off any outstanding term debts (e.g. car/personal loans)
“Being a first home buyer I really had no idea all that was involved in purchasing a property. Kathy was exceptional, she went above and beyond to ensure I got the best possible deal for my first mortgage.
Not having any previous experience in the property market she made the often complex processes simple and straightforward, coming to my workplace and home on numerous occasions to explain paperwork.”Liz - Caringbah
My wife and I recently purchased land and built a new home. Kathy Dundas from No Fuss Home Loans was our Mortgage Broker through this process. Kathy went over and above our expectations in helping us through this process. Apart from the standard paper work Kathy spent numerous hours going through our options and running through different scenarios to ensure we were choosing a home loan that best suited our needs. As first time builders it was a little overwhelming but Kathy made sure we had all basis covered and always responded to our calls and emails in a timely fashion and courteous manner. Kathy maybe herself available coming out to our home and even spent time helping us through some urgent matters whilst she was away on a Christmas holiday break which we are truly grateful for. Kathy provides exceptional customer service and she really looks after her clients and I would not hesitate in recommending her services to anyone in need of a good mortgage broker.Daniel Malec