January 22, 2014 by Tiffany Hancy
Your borrowing capacity is determined by a number of factors.
The amount you earn. This is mainly from your wages, self employment income, rental income, Centre Link Family Allowances and a number of other sources.
Then to offset that is the size of your debt repayments, such as any personal/car loan repayments, other mortgage repayments and the size of your credit card limits, has a big effect on your borrowing capacity and living expenses for yourself and each family member.
Each bank has a servicing calculator and the relevant information is loaded in and it calculates your borrowing capacity.
To find out your borrowing capacity, give us a call at Mortgage Choice Joondalup & Butler on (08) 9485 0090.
Dennis Aplin, Your Local Mortgage Broker
dennis.aplin@mortgagechoice.com.au
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