How do I work out the maximum amount I can borrow?

By YM

In the past, banks would often give you 4-5 times your income.

If you earn $70,000 per year, for example, then a bank or lender may be willing to lend you $350-$420,000.

But this has now changed – and lenders now use a range of criteria to work out how much they are willing to lend you.

So how do lenders calculate how much you can borrow? Raj Ladher, home loan specialist with Your Mortgage Broker, explains more in this video.

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