October 18, 2016
Shop with confidence this Spring, knowing how much you can afford to spend on your new home!
Along with the weather this Spring, the property market in WA is also finally starting to warm up. If you are out and about looking at homes you may be wondering how much can I borrow?
With both owner occupied and investment interest rates at all time lows, the answer may be more than you think. Some lenders will let you borrow as much as 95% of your home’s value, while others want to see a far larger deposit – in some cases up to 25%.
TIP: With each lender taking a unique approach, it is best to give us a call on 9309 4780 to get a good understanding of your borrowing capacity before you make an offer on a property.
It can sound confusing, but that’s where Mortgage Choice in Kingsley can help!
We work closely with a wide range of over 20 banks and lenders so our mortgage brokers can explain exactly how much you can borrow through each of the lenders on our panel.
We can also provide hints and tips on how to boost your borrowing capacity and help give you an idea of how to calculate your future home loan repayments.
To begin to learn more about how much you can borrow, take a look at these handy calculators and the below Money Chat video ‘How much can I borrow for a home?’
Remember, there is no single formula that shows what you can afford to borrow. Thats why, for a truly accurate understanding of your borrowing capacity, give one of our brokers a call on 9309 4780.
Our home loan service comes at no cost to you, and we are paid the same rate no matter which loan you choose from our wide panel of lenders.
For expert advice at no cost to you, talk to the Team at Mortgage Choice in Kingsley on 9309 4780 today!
If you're wondering what happens once you're ready to make an offer, then check out this blog post: I'm ready to make an offer on a property. What do I do next?