How much can I borrow?

  • Depends on a number of variables
  • Amounts differ between lenders
  • Borrowing by yourself or with others?
  • Up to 97% available
  • 100% loans possible with strict conditions
  • LMI helps buy with a small deposit
  • Concessions & grants help
  • Take the guess work out, enquire now

The amount you can borrow generally depends on the size of your deposit, the value of the property, and your servicing capacity (based on your income and how much you are able to repay). All lenders have limits on how much they will lend you.

Your borrowing ability may also depend on whether you are borrowing on your own or with a partner. There are also loan types available for people (eg. friends) that want to borrow together but keep finances separate, and where family support is provided by way of family members securing or guaranteeing loans.

Typically, a lender will lend 80% of the value of the property and up to 97% on certain conditions and loan types. It is possible but less common now to obtain 100% loan finance under certain stricter borrower conditions (eg. Having a guarantor).

If a lender loans you more than 80% of the value of the property (60% if you're self-employed and seeking a Low Doc loan) then Lenders Mortgage Insurance is likely to be payable.

If you are eligible for any concessions or grants (eg. The First Home Owners Grant), these can be added to your deposit or deducted from your costs. For more information on deposits go to How can I increase my deposit?

Use our 'How much can I Borrow' calculator to get a quick idea of your borrowing capacity, and then contact one of our professional Time Finance Mortgage Brokers to get a full understanding of your borrowing ability.

With hundreds of different loan products in the market from all lenders, it can be a daunting time to go shopping for a home loan if you are doing it yourself or don't know what to look for. The benefits of why you should use a professional Time Finance Mortgage Broker are guaranteed.

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FAQs
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Depends on the size of your deposit, the value of the property, and your servicing capacity (based on your income and how much you are able to repay).

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Most mortgage lenders will require a deposit of 20% or more of the property price. Less may be required however will require mortgage guarantee insurance in most cases

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Depends on the type of loan, intrerestr rate, payment term, and whether you pay monthly or fortnighly. Use us mortgage calculators to guide you.

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Every state is different and may depend on the value, whether you are building or buying an established home. Read more in our FHOG article

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It is a rate that includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure that lets you compare loans from differengt lenders on a fair comparison.

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This 'in principle approval' is usually valid for 3 months. Gives you the confidence on how much you can borrow before your purchase a property.

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The cost of Stamp Duty varies between States and Territories. Subject to your personal loan circumstances, the cost of stamp duty can be included in the loan amount you borrow.

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