Borrowing Calculator
How this calculator works
Firstly, this calculator is a general rule of thumb of what a bank may lend you based on your household income and number of children. It is not a full analysis of your personal situation and specific current bank lending criteria, so should only be viewed as a general guideline. Please contact your bank or mortgage adviser (myself) for a tailored up to date review of your situation..
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This calculator multiplies your household income by 5 and will subtract 0.3 from the multiplier for each child.
Your estimated maximum borrowing capacity is:
Disclaimer
This is an estimate only. Lenders use detailed serviceability tests which consider, among other things, interest-rate buffers, existing debts, living expense benchmarks, and amount of deposit (LVR). For a detailed analysis of your position, contact Oliver at RightSize Mortgages for a thorough review.