Easily calculate your estimated borrowing capacity - how much you may be able to borrow is based on the details you enter for your income and living expenses. The borrowing calculator estimates what you can borrow (loan amount) based on the interest rate and loan term you enter. Included in the estimate is your home loan repayment amount.

How much can I borrow?

Want to compare home loans or calculate your home loan repayments? See all home loan calculators.

Using the borrowing power calculator

It is important that all living expenses are included to accurately estimate how much you may be able borrow. Any current debt, financial commitments, expenses such as a car loan or personal loans will affect how much you can borrow.

Make sure that you include all income streams such as employment income, rental income, bonuses, benefits, interest earned and any secondary employment.

To accurately assess your long term ability to make the loan repayments you should also consider future changes to your personal circumstances. You might consider how loss of employment, or a change to different employment, or a requirement to relocate might affect your household income.

Credit assessment criteria

The calculator does not include your credit history, which may affect how much you're able to borrow. Lenders usually check your credit history to see if you have any other debts and assess your history of paying off loans.

Any assets such as an investment property may be used as a security property and affect your borrowing power.

The calculator does not take into account how much of a deposit you have. Lenders usually require a 10% or even a 20% deposit to meet the criteria for a home loan.

To discuss in further detail how much you can borrow, enquire online to speak with one of our friendly Lending Specialists.

Other home loan expenses to consider

In addition to your personal financial circumstances, taking out a home loan generally consists of additional expenses such as stamp duty, conveyancing fees, building and pest inspections, and potentially lenders mortgage insurance (LMI).

If you are selling another property you must also consider any real estate fees, moving costs, and potentially capital gains tax to more accurately estimate your complete financial position.

Interest rates and loan repayments

Use our helpful loan repayments calculator to understand the affect interest rate changes have on your interest repayments. Fixed rate home loans give you more certainty over your repayments, however, they are not fixed forever.

It is recommended that you compare loans and pay close attention to the comparison rate which gives you a more complete picture of how much a loan costs. The comparison rate includes any applicable bank fees associated with your home loan.

The borrowing power calculator is a great tool to help you assess what you could potentially borrow and understand what you can and can't afford to buy when house hunting.

This article is general in nature and does not constitute personal advice. Consider the Target Market Determination to see if this product is right for you. Seek professional financial advice to determine what best suits you.