How Much Can I Borrow?
Find out your estimated borrowing power based on your income, existing debts, and deposit savings. A great first step for planning your property purchase in Gladstone and Central Queensland.
Include car loans, personal loans, credit card minimums, HECS/HELP, etc.
Percentage of income allocated to housing + existing debts
This calculator provides estimates based on general guidelines. Actual borrowing capacity depends on your credit score, employment history, and specific lender requirements. Get pre-approved for an accurate assessment.
Get Your Exact Borrowing Capacity
This calculator provides an estimate. For an accurate assessment based on your specific situation, speak with our Gladstone mortgage experts.
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How Lenders Calculate Borrowing Power
Your Income
Lenders look at your gross income including salary, overtime, bonuses, rental income, and other regular earnings. FIFO workers and shift workers can include allowances.
Existing Debts
Car loans, personal loans, credit cards, HECS/HELP, and Buy Now Pay Later all count. Lenders assess these monthly commitments against your income.
Living Expenses
Lenders use benchmarks (HEM) or actual expenses to estimate your living costs. This includes food, utilities, transport, insurance, and general household expenses.
Important Note
This calculator uses general serviceability guidelines. Actual borrowing capacity varies between lenders and depends on factors like credit history, employment type, and specific loan products. Some lenders are more favourable for FIFO workers, self-employed, or those with complex income. We can help you find the best fit.
Frequently Asked Questions
What is the debt-to-income (DTI) ratio?
DTI is the percentage of your gross income that goes toward debt repayments. Lenders typically prefer a DTI of 30-40% for housing costs including the new loan. A lower DTI means lower risk and potentially better rates.
Can I borrow more than this calculator shows?
Possibly. This calculator uses conservative estimates. Some lenders have more favourable policies for certain employment types, income structures, or borrower profiles. A mortgage broker can help identify lenders that may offer higher borrowing capacity for your situation.
How does my deposit affect how much I can borrow?
Your deposit doesn't directly increase how much you can borrow (that's based on income), but it does determine what property price you can afford. The maximum property price = maximum loan + your deposit. A larger deposit also means avoiding LMI and potentially getting better rates.
What if I have HECS/HELP debt?
HECS/HELP repayments are deducted from your income based on your salary threshold. Lenders factor this into their serviceability calculations. Include your HECS repayments in the "monthly debts" field for a more accurate estimate.
I'm self-employed. How is my income assessed?
Self-employed borrowers typically need 2 years of tax returns and financial statements. Lenders average your income over this period. Some lenders are more flexible with self-employed income - we can help you find the right fit for your business structure.
Ready to Know Your Exact Borrowing Power?
Get a personalised assessment from your local Gladstone mortgage broker. We'll analyse your situation across 70+ lenders to find your maximum borrowing capacity.