We’ve Helped Over 150+ First Home Buyers
We’ve Helped Over 150+ First Home Buyers
See how much you could borrow based on your income, expenses, and deposit.
Use our borrowing power calculator to get a quick estimate based on your income, expenses, and existing commitments. It’s a great starting point for understanding how much you may be able to borrow.
For a more accurate figure tailored to your employment type and income structure, speak with our team at Houses for Heroes. We’ll guide you through your options and help you understand the best outcome for your situation.
* Update version: January 2025
Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product.
The information contained in this website is of a general nature and does not take in to account your personal needs and requirements. The figures shown in the calculators do not constitute an offer for finance. Lender policy and conditions, fees and charges will apply.
The information provided by the calculator is intended to provide illustrative examples based on the stated assumptions of your input. Results are a guide only and do not constitute financial advice or a guarantee of an outcome. You should always discuss your individual circumstances with a representative of Houses For Heroes.
A borrowing power calculator estimates how much a lender may be willing to lend based on your income, living expenses, existing debts, and deposit. It’s a useful starting point before you begin house hunting.
At Houses for Heroes, we take this a step further by helping police, nurses, and teachers understand their true borrowing capacity, including lender policies and employment-specific benefits, so you can move forward with confidence.
Your borrowing capacity is based on your income, living expenses, existing debts, and each lender’s assessment criteria. As a general guide, many lenders may offer between four and five times your gross annual income. However, this can vary significantly and may be reduced depending on factors such as credit cards, personal loans, or other ongoing commitments.
It depends on the lender. Some lenders will include overtime and allowances at full value, while others may use a reduced percentage or exclude them altogether.
For police, nurses, and teachers, where income often includes overtime, shift penalties, and allowances, it’s important your income is assessed correctly. Working with the right broker ensures your income is presented properly, helping you maximise your borrowing capacity and achieve the best outcome for your situation.
Online borrowing calculators provide general estimates only. Banks and lenders each use their own assessment criteria, including how they treat your income, expenses, and existing debts, which is why the figures can vary.
Speaking with a broker allows you to compare your position across multiple lenders, helping you find the most accurate borrowing capacity and the most suitable option for your situation.
No. Using an online borrowing power calculator will not affect your credit score. These tools provide estimates only and do not involve any credit checks or enquiries.
Your credit score is only impacted when a lender completes a formal credit enquiry as part of a home loan application.
Borrowing power is an estimate of how much you may be able to borrow based on your income, expenses, and financial position. It’s a useful starting point when planning your next move.
Pre-approval, on the other hand, is a more formal assessment by a lender confirming how much they are willing to lend you, subject to conditions. It’s based on a detailed review of your financial situation.
Having pre-approval gives you confidence when making offers and shows real estate agents and sellers that you’re a serious buyer, which can help you stand out in a competitive market.
Book a free strategy call with Dan to get a clear, honest understanding of your position. Whether you’re buying your first home, upgrading, or looking at an investment property, most people are further along than they realise. There’s no cost, no pressure, and no obligation to move forward after the call.
Free. No credit check. No pressure to proceed.
