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How much can I borrow?

Before you start looking for an investment property you need to know how much you can afford to spend and repay.
  • The amount you can borrow will depend on a number of factors. Use a loan calculator to get an estimate.
  • Your Lender can give you an idea and/or a pre-approval on your borrowing capacity, which is usually valid for three months. This gives you an accurate estimate of what you can currently afford, taking into account:
-    Your annual income;
-    Your monthly expenses;
-    The type of loan and current interest rate;
-    Repayment type (principal or principal and interest);
-    The loan term (number of years to pay the loan back); and
-    Estimated repayments.
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