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No Fuss Home LoansBorrowing Capacity

Borrowing Capacity

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 No Fuss 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)

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Loan Providers

I have dealt with Kathy Dundas as a Lending Manager many times.
Kathy has saved me a lot of money, and pointed me in the right direction.
Kathy is prompt and professional. Very knowledgeable in her field.
I have no hesitation in recommending Kathy to Family, clients and friends.

Bronwyn Herrmann - Real Estate Agent in Rockdale Sydney

My partner and I are so happy we found Kathy when completing the biggest purchase of our lives!

People would say that we decided to do things ‘the hard way’ by building our first home, however with Kathy at No Fuss Home Loans this was not the case. Kathy has been extremely helpful every step of the way (over a year and a half!) making sure we completely understand the process and comfortable before signing the dotted lines.

Kathy has always been there for us whether it’s a phone call, email or a late night visit to her place. We couldn’t be more grateful!

Derya Kamil