Borrowing power calculator

How to use the borrowing power calculator

1. Applicants and dependants

   Select Yes under Joint Income if you are buying with a partner, then choose your number of dependent children from 0 to 3+.

2. Enter net income

   Type your after-tax salary, your second applicant's net salary if buying jointly, and any other net income, then set each frequency to weekly, fortnightly, monthly or annually.

3. Add expenses and debts

   Enter your living expenses, car loan repayments, other regular payments and total credit card limits across all cards, not just the balances owing.

4. Set rate and loan term

   Adjust the interest rate from the 5.5% default and the loan term from 30 years to match the loan you want to test.

If you only know your before-tax pay, run the income tax calculator first to find your net salary.

The calculator shows the maximum amount you could borrow and the matching monthly, fortnightly or weekly repayment at your chosen interest rate, after testing your borrowing capacity with a 3% interest rate buffer or a 5.75% floor rate.

What this calculator includes and what it leaves out

How a visa or expat income changes your borrowing power

This calculator treats every dollar of net pay the same, and it does not check your deposit or visa. Buying with an Australian citizen or permanent resident partner on a partner visa or Bridging Visa A or B, or on a 461 visa with an NZ citizen partner, can open up to 95% LVR from a 5% deposit.

If you are applying for an Australian expat home loan or earning in New Zealand dollars on a 444 visa, most lenders shade foreign income by 20% before applying Australian tax rates, while some lenders assess an expat's net income. Bonuses and commission usually take a second 20% cut.