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How much can I borrow?
The amount you can borrow is determined by a number of factors applied by the various lenders to each borrower's circumstances. These factors are based on their current rules and policies and determine a borrower's "risk profile".

They also apply"The 6 'C's' of Credit Assessment" when assessing credit. These are summarised below:
Character
"Financial character" is measured by the borrower's past performance when borrowing money and paying bills. This can show the borrower's intention to repay the loan.
Capacity
The "financial resources" a borrower can rely on to repay the loan. These include income less expenses (surplus funds), savings and investments. This shows the borrower's ability to repay the loan.
Capital
The borrowers' "net worth", assets that a borrower has amassed over time less outstanding loans. Government grants available such as the First Home Buyers Grant are also taken into account.
Collateral
Assets that can be used to secure a loan. These include real property, investments and other major assets that are acceptable and can be "pledged". Different types of security are acceptable when obtaining different types of loans.
Conditions
These include the borrower's stability of employment, income and residential address. People who show instability in these areas generally have a higher risk profile.
Confidence
All things considered, this is probably the most important criteria and can come down to the current economic climate, statistical data and almost the credit assessor's "gut feel" about what is presented in the loan application. This is an area where a Mortgage Broker can help to present your loan application truthfully, accurately and with supporting data and comments.
NB. All loan applications are assessed on their individual merits and approval is not always forthcoming.