How Much Can I Borrow as a First Home Buyer?

Every lender answers this question differently, and on the same application the gap between the most and least generous lender can run to six figures. Here is what actually moves the number.

What lenders look at

Income and how stable it is, your living expenses, existing repayments and credit card limits (the limit counts, not the balance), dependants, and the deposit you bring. They then test you at a buffered rate, roughly 3% above the actual rate, to make sure you could cope with rises.

Why the answers differ

Each lender reads income its own way. Casual overtime, bonuses, rental income and self-employed earnings are counted at different percentages, which is why one lender says $520,000 and another says $610,000 on identical facts. Comparing policies is exactly the job of a borrowing power assessment.

Get a first read in minutes

Our borrowing power calculator gives an indicative figure, and the Buying Position tool turns it into a buying range, a deposit check and a suggested next step. Both are estimates, not credit advice, your real number comes from a full assessment against live lender policy.

Ask Charles to check your position properly, it is a 20-minute conversation.

General information only, not credit, legal or tax advice. Your situation is assessed properly before any recommendation. Government scheme details change; figures are current at the time of writing.