Purchasing Power Calculator
What could you actually buy?
A borrowing figure on its own does not tell you the price you can pay. This brings your deposit, what you could borrow and the costs of buying together into a realistic purchase price, which is the number that is actually useful at an open home.
The number that matters at an inspection is this one, not the borrowing figure.
Estimate only. This calculator is a guide. It is not a quote, a pre approval or a credit offer, and it does not take your objectives, financial situation or needs into account. Real figures depend on the lender, the product, the fees, the loan to value ratio and a full assessment of your circumstances.
This is a planning estimate, not a pre approval, and it does not confirm what any lender will actually advance. Upfront costs beyond the deposit include transfer duty, lender fees, conveyancing, inspections and, where the deposit is under twenty per cent, lenders mortgage insurance. Grants and concessions you may be eligible for can move the figure in the other direction.
Worth knowing
Reading the result properly
What it works from
The savings you have available, what you could borrow, and the costs that have to come out of your funds at settlement rather than out of the loan.
Deposit is not the same as savings
Part of what you have saved goes to duty, fees and conveyancing rather than to the property. The deposit that counts towards the purchase is what is left after those.
Under twenty per cent deposit
Buying with a smaller deposit is common and entirely workable, but lenders mortgage insurance usually applies, and a few lenders waive it for certain professions. That is worth a conversation.
Where to from here
Start with a straight answer.
One short conversation is usually all it takes to know where you stand and what your options actually are. Nothing to fill in first, no obligation at the end of it, and if the answer is no, I will tell you that and what would need to change.
Monday to Friday, 9am to 5pm. Perth CBD, or by phone and video anywhere in Australia.