Borrowing Power – Know your numbers, what you can afford etc


To address:

  1. Know your taxable income
  2. know your credit card, store card limits
  3. Know your credit score – you can obtain these free online via multiple sources, we recommend Equifax as a vast number of lenders use there reports
  4. What you can affford – current savings and current rent expense if you maximum amount you can afford, you want to go no where near this
  5. You can generally borrow 5-6 times your annual income, for example, if you are on $100,000 p.a you can borrow $500,000 to $600,000 if you have no debts