Getting Mortgage Ready
Income requirements are a tricky one, and there’s no exact answer.
Ultimately, it’s down to your ideal purchase price, and how your expenses affect your “Servicing”
Servicing is about us running the numbers and seeing what the bank would be willing to lend you!
All of the banks have online lending calculators so you can get a rough estimate. These aren’t accurate, and are mainly a toy to lure you into working with them.
If you want an accurate answer on your borrowing power, reach out to a Mortgage adviser.
It’s easy for us to do, and we’re free.
The benefit here is we can firstly figure out what bank will suit you better, and run your numbers with their accurate version of the calculator.
There’s no point running your numbers with a bank, if that’s the bank most likely to decline you.