11/01/2026
Understanding what determines your borrowing capacity can help you prepare and sometimes increase how much you can borrow. 🏦💰
Key factors that influence your borrowing power:
đź’Ľ Income and employment - stability and consistency matter
đź’ł Existing debts - Credit cards, car loans, and other repayments impact your overall borrowing ability
📊 Credit history - missed payments and defaults can affect your result
đź§ľ Living expenses - lenders assess your ongoing financial commitments
đź’° Deposit size - a larger deposit can reduce risk and strengthen your application
🏠Loan type and term - what you apply for also affects the assessment
The good news?
JUST CALL MEL!
Many of these areas can often be improved with preparation and the right guidance before applying!