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How much can I borrow?

This calculator is designed to give you a super quick idea of a conservative borrowing capacity. The best way to get a true idea is to talk to a broker. We will help get a true guide, organise pre-approval and find a great rate loan to match.
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  • Income and Expenses: The calculator assumes the income entered is accurate and does not factor in living expenses or existing debts, which lenders will assess separately.

  • Interest Rate and Loan Term: A default interest rate of 5.5% and a 30-year loan term are used unless adjusted. Changes to these inputs will affect the results.

  • Repayment Capacity: The calculation assumes up to 30% of your gross monthly income is allocated to loan repayments.

  • Indicative Only: Results are estimates and may vary based on individual lender policies and criteria.

  • Purpose: This tool provides general guidance only and is not a substitute for personalized financial advice or a lender’s assessment.

FAQs

A mortgage broker offers access to multiple lenders, personalised loan recommendations, expert guidance, and simplifies the application process, saving you time and effort. They also get paid on settlement by the bank you choose, so a broker wont charge you for their time.

The amount you can borrow depends on factors like your income, expenses, existing debts, credit history, and the lender’s criteria. Use our borrowing power calculator for an estimate, but speak to a mortgage broker for a detailed assessment tailored to your circumstances.

Borrowing power refers to the amount a lender may allow you to borrow based on your income, expenses, debts, and financial situation. It’s an estimate and can vary between lenders.

No, the borrowing calculator provides an estimate only. The final amount will depend on a lender's assessment of your full financial situation, including their specific lending criteria.

We're available to chat

We’re here to help you with your finance needs. We can give you a call or arrange a time to meet to discuss your financial circumstances and goals.
Your local mortgage broker in Somerville, supporting Self-employed, small business owners, SMSF investors from the Mornington Peninsula through to Melbourne and everywhere inbetween. Helping you secure your dream home with competitive interest rates and expert financial guideance.

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Sid & Co Pty Ltd ACN 143 724 529 trading as Sidco Finance is a Corporate Credit Representative (576254) and David Sidwell is a Credit Representative (576391) of Broker ACL Pty Ltd ACN 681 761 375 (Australian Credit Licence 563763)

IMPORTANT NOTE: All content is general information only and is subject to change at any given time. Your complete financial situation will need to be assessed before acceptance of any proposal or product. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to purchase. Any recommendations made about a financial product are general advice only and has not taken into account your particular needs and circumstances. You should consider the Product Disclosure Statement to determine if the product is suitable for you before you decide to purchase it.