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How Much Can I Borrow? - Sydney & NSW
One of the first questions people across Sydney and NSW ask when buying or refinancing is:
“How much can I actually borrow?”
The answer isn’t just based on your income.
Banks look at your expenses, debts, employment type, credit history, and lending policies — and each lender calculates it differently.
That’s why online calculators often give rough estimates.
Your real borrowing power can vary by tens or even hundreds of thousands of dollars depending on the lender you choose.
How Do Banks Calculate Borrowing Power?
Banks consider several factors, including:
• Your income (salary, bonuses, rental income, business income)
• Your living expenses
• Existing debts (credit cards, car loans, HECS, Afterpay)
• Number of dependants
• Employment type
• Interest rate buffers
Each lender uses different formulas and policies, so borrowing power can vary significantly for buyers in Sydney and across NSW.
What Can Reduce Your Borrowing Capacity?
Some common factors that reduce borrowing power include:
• High living expenses
• Large credit card limits (even if unused)
• Personal loans or car loans
• HECS/HELP debt
• Buy now pay later services
• Casual or irregular income (with some lenders)
The good news is many of these can be improved or structured better.
Does Employment Type Affect How Much I Can Borrow?
Yes — but it doesn’t mean you can’t get a loan.
Lenders assess differently for:
• Full-time employees
• Casual and contract workers
• Self-employed borrowers
• Business owners
Some lenders are far more flexible than others.
Choosing the right lender can make a huge difference.
How Much Deposit Do I Need?
Your deposit impacts:
• How much you can borrow
• Whether you pay LMI
• Your interest rate
Some buyers need 20%, but others can buy with as little as 5–10% using government schemes or family guarantees.
We’ll help you understand what works best for your situation.
👉 Buying your first home? Read our First Home Buyer Guide here.
Why Online Borrowing Calculators Can Be Misleading
Most online calculators:
• Use generic assumptions
• Don’t reflect real lender policies
• Don’t account for individual circumstances
This often results in:
• Overestimating what you can borrow
• Or underestimating your true capacity
A personalised assessment is far more accurate.
👉 Learn more about the full home loan process here.
How We Help You Maximise Your Borrowing Power
At Help Street, we help clients across Sydney and NSW by:
• Compare multiple lenders
• Use real bank servicing calculators
• Structure your loan properly
• Find the most suitable policies for you
This often means higher borrowing power and better loan options.
👉 Already own a home? See how refinancing could reduce your repayments.