Looking to buy your dream home or investment property? With our borrowing power calculator, you can understand how much you can borrow.
Borrowing environment has been extremely challenging. Therefore, you need to plan accordingly. Banks consider a lot of things before they approve your application. They want to understand your:
– Income: Can you income support repayments? Hence, banks add buffer to assess your ability.
– Expenses: In order to understand your life style and thus evaluate your ability to repay loan whilst sustaining your lifestyle
– Assets: Your current level of assets.
– Liabilities: What your level of current debt and if you have capacity to take on new debt.
– Character in terms of making repayments. Hence evaluate your history by using comprehensive credit reporting.
– Security: Are there any risks associated with property. Therefore, may not want to take risk on.
Therefore, most likely you can expect a lot of questions coming your way. Hence, using our calculators can help you prepare upfront.