How much can I borrow for a home loan (mortgage)?

The amount a bank or non-bank lender is willing to lend you depends on a number of factors, including:

  • Annual income i.e. wages or salary
  • Weekly or monthly expenses i.e. utilities, insurance, school fees, groceries etc.
  • Deposit amount i.e. the amount of money you have saved for a deposit
  • Existing debts i.e. credit cards, loans, overdrafts etc.
  • Your credit score

When you submit a home loan application, the lender will assess your ability to repay the loan by reviewing the factors listed above. The outcome, if your application is approved, will determine the amount you can borrow and the interest rate you will need to pay.

Want to know more? Check out our home loan calculator or enquire online today.


More frequently asked questions about home loans

You may find the answer on one of the pages below: