How to check borrowing capacity at multiple banks at once?

Hi All,

I've been exploring various online tools to determine my potential borrowing capacity and have noticed significant differences among banks, particularly between smaller and larger institutions. For example:

UBANK: up to $495,000
NAB: up to $725,567
COMMONWEALTH: up to $740,700
Athena: $400,000

Obviously, this is only via their online calculators; how do i get the actual amount they will borrow easily across multiple banks? I would imagine if i apply for each one it would impact my credit score.

Thanks!

 

I give you a world changing invention, a killer app, if you will:

a mortgage broker.

the online calculators are baits.

 

lend I think you mean?

You would need broker solfware

 

Firstly the online calculators are not even remotely accurate. The questions they ask don't even match their lending policies. These calculators are sales tools and cannot be relied on at all.

If you want an accurate assessment of what a single bank can lend, visit a branch. If you want to compare lending across multiple banks and compare their offers accurately, call a broker.

 

i forgot the link, but there was this website where if u put your data it will generate a table with all diff lenders and how much u could borrow. its the tool some brokers use and they have free 2 week trial. but i forgot the name LOL

 

Quickli.com.au

Sign up for a free trial. Use as a rough guide only.

DO NOT rely on any tool/calculator. Talk to banks, or better yet, have a broker do the work for you.

 

Just get a Mortgage Broker to run serviceability check for you, online calculators are notoriously incorrect anyway, so you're wasting your time with them.
Oftentimes lender policy impacts what you can borrow, lenders don't post this information publicly but a good Broker will know it.