---
# System prepended metadata

title: How much can you borrow for a home loan?

---

# How much can you borrow for a home loan?

The sort of houses you look at, as well as the suburbs you consider, will be influenced by the amount you can borrow for a home loan. (Ask [Home Loan Experts Sydney](https://www.apwfinance.com/home-loans/))

Several factors influence the amount of money you may borrow for a house loan.

Here's how to figure out how much money you can borrow.

**1] Income and expenses**

When calculating how much you can afford to pay back on your loan each month, your income is a helpful guide. Assess how much of your earnings is left over to meet house loan repayments by looking at your living costs and financial obligations. A well-planned budget will ensure that you do not overextend yourself.

**2] Deposit savings**

The larger your down payment, the lower your loan will be and the less interest you'll pay. Before purchasing a property, you should try to save as much as you can. The minimum deposit is ten percent, but if feasible, try to go for twenty percent. You'll need to take out Lenders' Mortgage Insurance or a Low Deposit Premium if you're borrowing more than 80% of the property value.

**3] Saving history and credit rating**

Saving for a down payment is an excellent approach to demonstrate that you will be able to keep up with your mortgage payments. A three-month or longer period of saving is a solid indicator of your ability to save.

Your credit rating, which is based on your borrowing and repayment history, as well as how frequently you've searched around for loans, will also be considered by the lender. You can check your credit score online through many credit reporting bureaux.

**APW Finance**

**Address: 38 Curtis Rd, North Kellyville NSW 2155, Australia**

**Call: 0447 959 546**

![](https://i.imgur.com/btPVHvn.jpg)
