How Much Can I Borrow

How much you can borrow for any loan is governed by the repayment type, whether it is a single or joint application and the ability to meet the minimum deposit requirements. Annual gross income, untaxed income and rental income are also included in the assessment. Expenses will be examined, including the existing property loan (if applicable), whether is it going to be refinanced. Other loan repayment amounts will also be examined, such as motor vehicle loans etc. Personal credit card limits and the number of dependants are also factored into the assessment. Lastly, the specifics of the loan, as in the term of the loan and the applied interest rate. Online calculators will provide an approximate assessment on your borrowing limitations, however the amount you can borrow against the amount you should borrow is something for consideration. The amount you should borrow is something you and your broker should work out, NFC can assist with this ensuring that you select the most suitable loan option. You should consider infrequent expenses, personal savings and sudden events for the amount you should borrow, surprise expenses can leave you short for your repayment period, hence the amount you should borrow must leavea big enough margin for this.

Please contact us regarding specific borrowing limitations.

The calculator below will assist you in understanding what your repayments will be.

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