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How much can I borrow when refinancing?

​​Every lender has their own formula for calculating your borrowing power. Some important factors include:

  • Income – this is not just how much your household brings in, but how much is left for home loan repayments after the bills and day-to-day expenses are paid.
  • Level of debt – how much you owe on other loans and credit cards will also influence your available income.
  • Credit rating – a sound credit rating is one of the first things lenders look at, as it is based on your borrowing and repayment history.
  • Property value - a lender may conduct a valuation of your chosen property to determine the amount they are willing to lend you.

Want an estimate of your borrowing power? Try our Qantas Money borrowing calculator.

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