Borrowing Power Calculator

Looking for a new home and wondering how much can I borrow?

iSelect’s Borrowing Power Calculator gives you an indication of the maximum amount you may be able to borrow based on your income and expenses. However, it’s important to note that the amount is subject to lender approval.

To help you set a reasonable upper limit and find a home loan that’s right for your situation, the calculator will also show you what you’ll be paying back each month. You know your budget better than anyone, so make sure you’re comfortable with this amount. You’ll want to have some cash left over so you can save for a rainy day and have a bit of fun.

Use iSelect’s Home Loan Borrowing Calculator and save money!

How to use the Calculator

Loan details.

The interest rate, and
Loan period.

Income details.

Choose whether you want to enter your income as a weekly, fortnightly, monthly or yearly amount.
Is this a joint purchase, or are you flying solo?
How many dependants (i.e. children under 15 of whom you’re the parent or guardian) you have, if any.
Your after-tax income as per your selected time period.
Your partner’s net income, if applicable.
Any other income you receive; for example, dividends from shares.

Expenses.

Loan repayments, such as for a car or personal loan, in weekly, fortnightly, monthly or annual amounts depending on the timeframe chosen above.
The combined total limit of any credit cards, whether you use them or do not use them.

And the Borrowing Power Calculator will crunch the numbers for you.

The graph shows both the principal (amount you borrowed) and the total amount owed including interest, as well as calling out your maximum borrowing amount at that interest rate and the monthly repayments attached. The yearly breakdown tab shows the years of the loan, the interest paid per annum, the principal amount and the total amount owed.