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Exactly how much you will be able to borrow will depend mostly on the lender’s impression of your ability to service the debt. In other words, when they calculate everything that comes in (income) minus everything that goes out (existing loans, credit cards, etc.), is there enough left over to pay them back every month? Plus, the banks being the conservative beasts they are will also factor in a buffer in case interest rates rise.
There are other contributing factors that will affect how much you can borrow, such as your deposit or equity, but serviceability in the key. However, every bank is different, and finding out what your own borrowing power is a must for anyone looking to build wealth.
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