Our borrowing power calculator is designed to give you an indication of how much you may be able to borrow for your first or next home loan. Simply enter some details about your income and expenses, and calculate your borrowing power in moments. It's important to note, figures provided by our calculator are indicative only, and do not represent a quote or pre-qualification.
Most lenders will accept a deposit between 5% and 20%.
If you have a 20% deposit, you can usually avoid Lenders Mortgage Insurance (LMI). If your deposit is smaller, you may still be able to get a loan, but you may need to pay LMI.
Some lenders also offer options to help you buy sooner, such as using a guarantor if you don’t have a full deposit.
Terms, conditions, fees, charges and credit criteria apply.
Your borrowing power is based on your overall financial situation.
Lenders look at things like your income, living expenses, existing debts, and your credit history to work out how much you may be able to borrow.
Many borrowers look at their borrowing power and assume that’s how much they should borrow.
A better approach is to consider what you can comfortably afford to repay, taking into account your expenses, financial commitments and the possibility that your circumstances may change in the future.
Terms, conditions, fees, charges and credit criteria apply.
Calculator Disclaimer
This calculator should be used as an indication only. Results provided are estimates for illustrative purposes and based on the information provided and the assumption that calculations are for new borrowings only. These assumptions are subject to change. Results should not be relied on or construed as financial or other advice. Results do not represent a quote or pre-qualification for a loan or other product.
This calculator applies the Household Expenditure Measure (HEM) to pre-populate minimum living expenses, to ensure that you allow adequate funds to live on. We include an interest rate buffer in our calculations. This allows us to factor in, to a degree, the effect of interest rate increases when working out how much you may be able to afford.
Calculations are not a loan or other product approval. Applications for credit are subject to credit approval and satisfactory security and minimum deposit requirements. Other criteria also apply. Conditions apply to all loans and other products. Full terms and conditions will be set out in our loan or other product offer, if an offer is made.
Fees and charges are payable. Interest rates are subject to change. The calculations do not take into account fees, charges or other amounts that may be charged to your loan or other account (such as establishment fees or stamp duty). Lender's Mortgage Insurance may apply. Any of these additional amounts will increase repayments under the loan.
As this information has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on it. You should obtain financial and taxation advice from a suitably qualified and experienced professional adviser before making a financial decision.
^Comparison rate is based on $150,000 over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
~At the end of the fixed rate period customers can chose to re-fix their loan for another fixed rate period or let the loan revert to the applicable variable interest rate based on the loan and repayment type.
#Discounted rates available for new home loans $150k+, with LVR of 80% or less.
◊Cashback offers:
*Online Cashback of $2,500 for eligible home loans $250-$499k or $3,000 for loans ≥$500k available for applications submitted via the Greater Bank Digital Home Loan application channel (online application) with 80% LVR or below. Excludes refinances from Greater Bank or Newcastle Permanent. If eligible, cashback payment will be made within 60 days of the loan settlement date (loan must still be open at time of payment). Only one (1) cashback payment per eligible loan and for first eligible loan only. Not available in conjunction with any other cashback or promotional payment (except any interest rate discount offered). Offer may be varied or withdrawn at any time. See the full Online Cashback Offer Terms and Conditions.
+Cashback of $2,000 for eligible home loans $250-$499k or $2,500 cashback for loans ≥$500k available for refinance applications submitted via Greater Bank lenders (not online), with 80% LVR or below. Only one (1) cashback payment per eligible loan, and for first eligible loan only. Not available in conjunction with any other promotional payment. Offer may be varied or withdrawn at any time. See the full Cashback Offer Terms and Conditions.
