Hi everyone, First time poster so go easy We are thinking of making a major move but I really need to find a true indication of our borrowing capacity. The online calculators vary so much. We will go from 2 incomes to 1 income of income of $76,000 gross pa. My partner will not be working for a while. We are a couple with 2 dependants. We would have a 20% deposit. We would be buying a block of land to build (we would have the cash from the sale of our current PPOR to build) No other loans or debts. The block we buy would be determined by how much we could borrow. Thanks heaps.
It would depend on your living expenses, but going on the minimum you borrowing cap would be approx $360k or less assuming PPOR.
Thanks Terry. It would be minimum expenses. Some calculators said nil and others all over the place up to $300's.
Get with a bank or broker to get a specific answer on what will be available for you. You'd want to make sure that you get a preapproval for the build bit and make sure that you move on that pretty quick You don't want to be in a position where you have a block of land costing lots and can't build on it Ta Rolf
Yeah, as a non broker myself, stop playing around with online calculators and see a good broker, quite a few on the forum.
