overview.
How much can you actually borrow? Dad breaks down borrowing power: why it swings so much person to person, how a credit card or car loan drags it down, and what living at home or a parental guarantee can do for it.
On the mic is Dad, John Kefalianos, a finance broker who calculates borrowing power for a living. He shows me how much it really swings, person to person.
"Your borrowing power is not one number. It changes the day you cancel a credit card you never use."
John Kefalianos
what you'll learn.
- What borrowing power is and why it varies so much
- How a credit card and a car loan each cut your capacity
- What rentvesting and living at home do to the numbers
- How a parental security guarantee can help you in
Prefer to read? Grab the free first home buyer guides.
part of: home loans guide.
The Borrowing Power Truth-Sheet
Roughly what the bank will lend you on $60k / $80k / $120k / $180k income — single and couple, before-kids and with-kids. The actual numbers Dad runs in his office.
chapters.
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links Nicola & John mentioned.
more on Borrowing power.
Same topic, different angle.