How much can I borrow?

This calculator estimates your borrowing power based on your income, financial commitments and loan details entered. Our loan repayment calculator can also help you to work out your repayments based on the amount you wish to borrow.

1. About meus

and I'mwe're financially supporting

+ -

dependant(s).

I amWe are looking for a
home loan.
Plus, I'mwe're financially supporting
* dependants.

Edit

2. Income and Expenses

IWe earn


+ Rental income

+ Other income

MyOur expenses


Total credit limit of

+ Other repayments of

IWe earn a total of
* per month
after tax,
and have total
monthly expenses of
$0

Edit

3. Your Affordability

Your Monthly Position

  • Home Loan Repayment
  • Total Expenses
  • Remaining

You may be able to borrow between

*

Talk to a Mortgage Choice broker today to get a loan pre-approval so that you can house hunt with confidence.

Unfortunately it doesn't look like you can borrow for a home loan. Please check that you've entered your details correctly.

If you need help to get your finances on track, check out our Financial Planning advice.

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Buying your first home

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Buying your next home

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Refinancing your home

See if you could save

Interest rates are at historic lows. It's an ideal time to shop around!

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Calculating the benefits

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Free home loan health check

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Calculating how much you can comfortably borrow

Want to find out how much you might be able to borrow for a home loan? Our borrowing power calculator gives you an initial estimate of what a lender may be willing to lend to you.

This is a handy step to take before you contact your mortgage broker so that you can see the effect different interest rates and loan periods will have on the amount of money you can borrow, the total interest you pay and your estimated monthly loan payments.

By entering the length of the mortgage, your salary (plus additional salary if you’re looking to co-purchase), your expenses and the number of any dependants you may have, the calculator will assess your borrowing power based on your earnings and other financial commitments.

Make sure you enter realistic figures to get a more accurate picture of what you can comfortably afford to borrow. You’ll want to ensure that you don’t end up overstretched or struggling to meet your repayments. To work out different rates of repayments, pair this calculator with our home loan repayment calculator.

To find out more and discuss exactly how much you can borrow, talk to Mortgage Choice today.

 

More calculators:

Loan to Value Ratio (LVR) | Compare home loans | Home loan repayment calculator

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Disclaimer:
The results from these calculators are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.

Borrowing Power:
The borrowing amount is a guide only. Loan repayments are based on the lowest interest rate (either standard variable or 3-year fixed rate, owner occupier) from our lender panel over a repayment period of 30 years. Rates and repayments are indicative only and subject to change. The results from this calculator are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.

Loan Repayments:
The lowest interest rate from our lender panel is either standard variable or 3-year fixed for an owner-occupier. Rates and repayments are indicative only and subject to change. The results from this calculator are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.