How do you calculate borrowing capacity?
This borrowing power calculator is a guide only, and gives you an estimate of how much you could borrow with Tic:Toc, based on the income and expenses you entered, our current home loan interest rates and an assumed loan term of 30 years. You’ll still need at least a 10% deposit (and for deposits below 20% Lender’s Mortgage Insurance (LMI) is applicable).
We’re responsible lenders, so we calculate your borrowing power using the higher of your estimated expenses and your HEM (Household Expenditure Measure – an Australian average expenditure benchmark). Find out more about borrowing power.
You’ll get a real assessment when you begin an application, and enter the specifics of the property, your loan type, personal details and your financials. This is not credit approval. Find out more about our eligibility criteria here.