How to boost your borrowing power
Lenders look at three things: income, expenses, and existing commitments. We unpick how to legitimately strengthen each, and what HEM, HECS and casual income actually do to the calculator.
HEM and your real expenses
The Household Expenditure Measure (HEM) is a benchmark lenders cross-check your declared expenses against. If your declared spend is below HEM, the lender substitutes HEM. Above HEM, your declared figure wins.
HECS-HELP impact
A $35,000 HECS balance with $4,200/yr repayments reduces your borrowing capacity by roughly $35,000–$50,000. Paying it off only helps if you have the cash sitting flat, otherwise, your deposit is more powerful.
Borrowing Power Calculator
Estimate how much you could borrow based on your income
This is an estimate only. Actual borrowing capacity depends on individual circumstances, lender policies, and credit assessment.
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are based on a secured loan of $30,000 over 5 years for vehicle finance and $50,000 over 5 years for equipment finance, as required under the National Credit Code.