Borrowing Calulators and Assessment Rates.

Discussion in 'The Buying & Selling Process' started by Jamie Kassan, 13th May, 2022.

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  1. Jamie Kassan

    Jamie Kassan Member

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    14th Jan, 2020
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    Craigieburn
    Not sure which forum to post this in but I was curious to know if online borrowing calculators take into account the APRA buffer on the banks SVR. Obviously this will be different for every lender.

    I would think it did as not having it in there would result in a massively inaccurate borrowing capacity but trying to be safe otherwise.

    Any help would be appreciated!
     
    Jamie Kassan, 13th May, 2022
    #1
  2. Trainee

    Trainee Well-Known Member

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    Talk to a good mortgage broker. Online borrowing calculators are useless.
     
    Trainee, 13th May, 2022
    #2
  3. Jamie Kassan

    Jamie Kassan Member

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    14th Jan, 2020
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    Location:
    Craigieburn
    Will definitely be doing that. Wont be purchasing for over a year though, was more or less just curious if banks actually include the buffer in their online calculators.
     
    Jamie Kassan, 13th May, 2022
    #3
  4. Morgs

    Morgs Well-Known Member Business Member

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    It is minimum actual rate +3% (not SVR)

    Online bank calculators are almost always incorrect
     
    Morgs, 13th May, 2022
    #4