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Borrowing Power Calculator

Estimate how much you can borrow. A borrowing capacity calculator should be used prior in searching for a property. This calculator will indicate how much you can afford to borrow. You will need to enter your income, all expenses and other financial commitments, as well as loan details and you'll get an estimate of your borrowing power capacity. You can discuss the results with Excellence Finance qualified mortgage broker to obtain more information and to find out about other loan options.

What Details Are Needed?

Our calculator will need the following data to give you your borrowing capacity.

You will need to enter:

  • Your income - you will need to input your net salary. For working couples, you will need to take in your salary and your spouse’s salary.
  • Your dependents - if you have children or are the breadwinner in the family and are supporting younger siblings
  • Your expenses details - these include your living expenses, any other loans such as car loans or personal loans and credit card limits.
  • Your loan details - the details of the loan including the interest and the loan term.

For a more detailed explanation of your borrowing capacity, you can discuss the results with one of our Sydney Mortgage Brokers. Excellence Finance has a team of qualified mortgage brokers ready to answer any query you may have regarding your loan options.

How does Borrowing Power Calculated work?

Different lenders have their own unique set of policies to assess how much they are willing to lend to an individual or couple. Lenders often follow the same principles when they look at your overall income during the application.

From your net income, they will subtract the payments from any liabilities you may have. They will also take into consideration your living expenses depending on your declared pay range.

All the latter computations will be done and the excess will be the determining factor if you can afford the loan or not. As simple as the explanation sounds, the whole calculation is complex and takes into consideration your overall financial situation. After using our calculator, we recommend taking the results over with one of our experts. Mortgage brokers will provide you with up-to-date information that’s clear, accurate, and tailored to your needs.

Talk to one of our mortgage brokers today!

Disclaimer: The information presented by the calculator are estimate only. It does not take into account additional fees and charges you may incur during the mortgage application process. Before deciding on taking a loan, we highly recommend discussing your situation with a qualified mortgage broker or an Australian Credit Licensee.

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