Borrowing Power Calculator

"How much can I borrow?" is the question almost every buyer starts with, and the honest answer is: it depends on far more than your salary. A lender assesses your borrowing power by looking at your income, your regular living expenses, any existing debts and commitments, the size of your deposit, and a buffer to make sure you could still afford repayments if interest rates rose.

Income is the obvious lever, but lenders rarely take it at face value. Bonuses, overtime, commission, rental income and self-employed earnings are all treated differently, and many lenders 'shade' variable income to a conservative percentage. On the expense side, lenders apply the Household Expenditure Measure (HEM) as a floor, then compare it against your declared spending and your actual bank statements, taking whichever is higher.

Existing liabilities can quietly erode your capacity. A credit card is usually assessed on its full limit rather than its balance, so an unused $15,000 card can reduce your borrowing power by tens of thousands of dollars. Car loans, HECS-HELP debt, buy-now-pay-later accounts and dependants all reduce the surplus income a lender is willing to lend against.

Because every lender uses a different serviceability calculator, assessment rate and expense policy, borrowing power can vary by six figures between banks for the exact same applicant. This is where a broker earns their keep: rather than applying to one lender and hoping, we match your profile to the lenders whose policies suit it best.

Our calculator gives you a fast, indicative estimate based on the numbers you enter, so you can set a realistic price range before you start inspecting properties. Treat it as a guide, not a pre-approval. The figure a lender will actually commit to depends on verified documents. When you are ready to firm it up, use our full calculator to model repayments and upfront costs, then speak to a Greystone broker who can pinpoint the lenders most likely to say yes to your maximum amount.