Know your Borrowing Capacity
In our previous Podcast episode, we learned about Home Loan Pre-approval. We will go deeper into the things that lenders look at in your Home Loan application. Those are your income and your living expenses. Basically, lenders or banks will use them to calculate your borrowing capacity.
Lenders will look at your type of income based on your employment and other sources such as family tax benefits (if applicable).
Along with your income, lenders will also look at your living expenses and existing debts in order to calculate your borrowing capacity. Then you’re one step closer to getting your home loan approved!
Watch the video here: https://youtu.be/Z44_vyyUrLc
For more information call me on 0430 020 620 or send me an email.
Kind Regards,
Miguel Gonzalez
Mortgage Broker
My Loan Choices
m. 0430 020 620
e. miguel@myloanchoices.com.au
DISCLAIMER: This podcast provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
