How Much Can I Borrow

Knowing how much you can borrow will help you determine your limits and narrow down the type, location and price of the property to look for.

The amount you can borrow depends on what you are buying and how much money you have left, after you account for all of your fixed commitments from your net income.

As a general rule of thumb, you should be paying less than one third of your income on your mortgage repayments.

To work out what you can borrow, you can use our ‘How Much Can I Borrow Calculator‘ for a general outlook.

If you prefer to have a more detailed personal assessment to work out what you can borrow and the type of loan that will suit you, speak to one of our Mortgage Managers who will be more than happy to assist you.


Lets say that after you have looked at our ‘How Much Can I Borrow Calculator‘ that it shows that you can borrow $400,000, which would make the monthly repayments $2,398 over a 30 year term principle & interest at 6%pa.

However after deducting your regular bills and day to day living expenses from your net income is show’s that your only able to save $2,200 per month, you then have two options:

  1. reduce the loan amount to be inline with your saving amount
  2. review your budget to see where you can cut back to make additional savings

Doing a budget is one of the first steps that you should do to help you determine what you can comfortably afford without extending yourself.

You will also need to consider the additional costs to property ownership, such as rates, electricity, gas, water, insurances and also the unexpected maintenance or increase in bills.

Need assistance with your budget?