How much can I borrow for my property investment?
Looking to find out how much you can borrow? It’s always best to use the free services of a good Broker. A quick phone call is all it takes to get an accurate indication of how much you can borrow.
Most people new to property investment are surprised at how much they can borrow for property investment, usually a lot more than you can borrow as an owner occupier as lenders will take into consideration the rental you will receive and also allow for some negative gearing.
A quick rough estimate can always be obtained from the many calculators available on the net from your preferred lender. Here is a link to the Westpac Bank calculator. You must include the anticipated rental. As a guide, use an approximate 5% yield on the amount you intend to borrow. For example if you are looking at $450,000 spend use $450 per week; on a $500,000 spend use $500 per week. In its rawest form, the borrowing power calculator uses your expenses and income to determine a rough guide as to the maximum amount available for a loan. http://info.westpac.com.au/homeloans/calculatortools/borrowing-capacity-calculator/?cid=wc:hl:CALC_1602:sem:goog:gene_how%20much%20can%20i%20borrow_e&gclid=CL2is9e11csCFdgjvQodlr4KBw
