Borrowing Power Calculator
A great first step is to work out how much you may be able to borrow with us. We’ll look at your income and expenses to work out your rough borrowing estimate*.
Ready to take the next step?
In less than five minutes, find out what indicative interest rateˇ you might be eligible for.
Won’t impact your credit score
How much can I borrow?
Ready to take the next step?
Let's crunch those numbers
Our calculators are here to help you along your home buying journey. From working out stamp duty to helping reach those savings targets.
Interest Rate Calculator
Stamp Duty
Mortgage Repayments
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What other home buyers are asking about borrowing power
There's no point re-inventing the wheel. Here's what other savvy home buyers are frequently asking us. If you're still stuck for help, then why not check out all of our home loan FAQs.
When assessing how much you can borrow, lenders will use a figure known as your debt-to-income ratio (DTI) – that is, the amount of debt you have compared to your overall income. You can calculate your DTI by adding up the total amount of your debts and dividing by your gross annual income (before tax). The fewer debts you have, the lower the ratio – and the better your borrowing power is likely to be.
Before submitting your application to a lender, you may want to determine how much you might be able to borrow - the Pepper Money Borrowing Power Calculator estimates this based on the information that you enter.
Gather your finances, including your income and any outstanding credit card debt or loans. You’ll also need to enter your total monthly living expenses – so have a think about your outgoings too. Once you’ve gathered this information, it’s a simple process of entering the required information into the Pepper Money Borrowing Power Calculator.
Do bear in mind that the amount shown in the calculator is a guide only based on the information you have provided. Commitments should not be entered into based on the borrowing estimate.
An estimate of your borrowing power can help you know how much money you could borrow. However, you will need to submit a full loan application to a lender who will make an enquiry on your credit report and complete a full credit assessment including making inquiries about your objectives and requirements and verifying your financial situation to provide you will a decision.
The higher your home loan borrowing power, the more options you could have. And the good news is, there are plenty of ways to help increase your borrowing capacity If your borrowing capacity is lower than you’d like.
Increasing your income, reducing your debts or choosing a longer mortgage term could all help increase your borrowing power. Want to know more? Here are 8 ways to increase your home loan borrowing power.
Important information
Information provided is factual information only, and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. All applications are subject to credit assessment, loan eligibility and lending limits. Terms, conditions, fees and charges apply. If you require financial or tax advice you should consult a licensed financial or tax adviser
* The results of the borrowing power calculator are based on information you have provided and is to be used as a guide only. The output of the calculator is subject to the assumptions provided in the calculator (see 'about this calculator') and are subject to change. It does not constitute a quote, pre-qualification, approval for credit or an offer for credit and you should not enter commitments based on it. The interest rates do not reflect true interest rates and the formula used for the purpose of calculating estimated borrowing power is based on the assumption that interest rates remain constant for the chosen loan term. Your borrowing power amount will be different if a full application is submitted and we complete responsible lending assessment. The results in the calculator do not take into account loan setup or establishment fees nor government, statutory or lenders fees, which may be applicable from time to time. Calculator by Widget Works.
ˇ An indicative interest rate and estimated repayments are not a formal approval for a loan, so don’t enter any financial commitments based on it. They are a guide only, based on the basic information you provide and the credit score we obtain for the primary application and is not a suggestion or recommendation of any loan product.
