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Know your budget

Before even thinking about borrowing any money, you need to make sure you’re going to be able to pay it back. This is where your budgeting skills come into play.

Take a closer look at your incomings and outgoings, and figure out how much per week or month you’ll be able to commit to in the form of repayments. Give yourself a range, with a high and low figure to work from.

If you’ve never set up a budget before, or it’s been a while since you last wheeled out the spreadsheet, why not check out the Greater Bank guide to budgeting. We break it down into easy to follow steps so you can get the info you need sooner!

Use our Budget Calculator

Gather information

Once you know exactly how much you can commit to in repayments, you’ll need to make sure you’ve got all the other info banks will usually require to provide you with an estimate for your borrowing power.

Have the following info handy as a basic guide:

Loan Details

Details such as the number of applicants, and the number of children dependant on applicants.

Liabilities

Your outgoings such as loan repayments and credit card limits.

Assets

Your primary income, any rental income, and any other income you regularly receive.

Take advantage of online tools

The great thing is, you don’t need to move heaven and earth to actually generate an estimate for your Borrowing Power from your bank. Online calculators have put the branch in your back pocket, meaning that once you’ve got all the info you need, you can find out your Borrowing Power at the touch of a button.

The Greater Bank Borrowing Power Calculator is a great way to discover how much you may be eligible to draw on, and is flexible enough to provide the same great experience regardless of your choice of device. Whether on desktop PC, tablet or mobile, our calculator is easy to use, and even lets you get the loan process started by making an enquiry if you like what you see.

Speak to an expert

Once you’ve generated your Borrowing Power estimate using an online calculator, you’re almost there. If you’re seriously considering your next property, and want a 100% accurate picture of your genuine Borrowing Power, it’s always best to speak to an expert.

If you’ve found the right house for you, having a conversation with an experienced lender will allow your bank to consider all your details, and let you know for sure if you’re eligible for a loan that matches up to your property price-range.

They can even provide you with pre-approval so that when it comes to making an offer, you can do so with confidence.

Compare Home Loans

Compare 5 products
Ultimate Home Loan
Our ultimate in loans. Our Ultimate Home Loan offers the flexibility of fixed or variable rate, or a mixture of both. What's more, it features a linked offset account and unlimited free online redraws.
Great Rate Home Loan
Our simple, low rate loan that’s perfect if you’re after great value and no ongoing fees. Our Great Rate loan lives up to its name and offers flexible repayment and loan term options.
Line of Credit
Our Line of Credit helps you make the most of the equity in your home. Great if you’re thinking about renovating, investing, or just want more flexibility.
Ultimate Investment Home Loan
Our Ultimate Investment loan combines great value with a range of extra products designed to make investing easier.
Great Rate Investment Home Loan
With low-interest rates and no monthly or annual fees, we've made investment simple.
Interest Rate 1.69 % p.a.
Comparison rate 3.72 %^ p.a.
~1 year fixed, owner occupied, principal and interest
Interest rate 1.69 % p.a.
Comparison rate 3.49 %^ p.a.
~1 year fixed, owner occupied, principal and interest
Interest rate 4.00 % p.a.
Ultimate Line of Credit home loan base rate
Interest rate 2.19 % p.a.
Comparison rate 4.10 %^ p.a.
~1 year fixed, principal and interest
Interest rate 2.69 % p.a.
Comparison rate 3.51 %^ p.a.
~5 year fixed, principal and interest
Key Features
Great if you want a packaged home loan with a low rate and added benefits.
Key Features
Great if you want a low-rate no-frills home loan.
Key Features
Great if you want a continuous credit facility to access the equity in your home.
Key Features
Great if you want a great value packaged loan to invest in property.
Key Features
Great if you want a simple, no-nonsense investment loan with competitive rates.
Interest only available
Fixed rates available
Minimum deposit required (without requiring mortgage insurance or a Family Pledge)
20% of purchase price (plus costs)
Maximum loan term
30 years
Parental guarantee available
Property location
NSW, ACT & QLD
Multiple offset accounts
Yes. Available once loan reverts to a variable interest rate.
Free redraw online
Additional repayments
Split loan option
Can be used for land & construction (variable rates only)
Can be used for refinance
Fast refi
Available if self employed
Repayment holiday
Ongoing fee
$395 p.a. Package fee
Interest only available
Fixed rates available
Minimum deposit required (without requiring mortgage insurance or a Family Pledge)
20% of purchase price (plus costs)
Maximum loan term
30 years
Parental guarantee available
Property location
NSW, ACT & QLD
Multiple offset accounts
Free redraw online
Additional repayments
Split loan option
Can be used for land & construction (variable rates only)
Can be used for refinance
Fast refi
Available if self employed
Repayment holiday
Ongoing fee
Interest only available
Fixed rates available
Minimum deposit required (without requiring mortgage insurance or a Family Pledge)
20%-25% dependent on security taken
Maximum loan term
N/A
Parental guarantee available
Property location
NSW, ACT & QLD
Multiple offset accounts
Free redraw online
Additional repayments
Split loan option
Can be used for land & construction (variable rates only)
Can be used for refinance
Fast refi
Available if self employed
Repayment holiday
Ongoing fee
$10 per month
Interest only available
Fixed rates available
Minimum deposit required (without requiring mortgage insurance or a Family Pledge)
20% of purchase price (plus costs)
Maximum loan term
30 years
Parental guarantee available
Property location
NSW, ACT & QLD
Multiple offset accounts
Yes. Available once loan reverts to a variable interest rate.
Free redraw online
Additional repayments
Split loan option
Can be used for land & construction (variable rates only)
Can be used for refinance
Fast refi
Available if self employed
Repayment holiday
Ongoing fee
$395 p.a. Package fee
Interest only available
Fixed rates available
Minimum deposit required (without requiring mortgage insurance or a Family Pledge)
20% of purchase price (plus costs)
Maximum loan term
30 years
Parental guarantee available
Property location
NSW, ACT & QLD
Multiple offset accounts
Free redraw online
Additional repayments
Split loan option
Can be used for land & construction (variable rates only)
Can be used for refinance
Fast refi
Available if self employed
Repayment holiday
Ongoing fee
Enquire now Ultimate Home Loan Enquire now Great Rate Home Loan Enquire now Line of Credit Enquire now Ultimate Investment Loan Enquire now Great Rate Investment Loan

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1300 721 253

Conditions, fees and charges apply to all loans. Subject to meeting Greater Bank's lending criteria. Greater Bank Limited ABN 88 087 651 956. AFSL/Australian credit licence No. 237476.

~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.

^Comparison rate is based on $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

#Discounted rates include a discount on Home Loans of $150,000 or over and Home Loans with an LVR 80% or below and apply to new borrowings only. Discounted rate not available for Line of Credit facilities.

+Additional costs may apply if your loan has a fixed rate.

All new interest-only home loans, attract a 0.10% p.a. margin above the applicable Principal and Interest base rate. All new Line of Credit home loans, attract a 0.10% p.a. margin above the applicable Line of Credit base rate. The all-up interest rate which includes any margins, will be set out in your credit contract. View our Terms and Conditions.