Description

This calculator estimates your borrowing power based on your net income, living expenses, other commitments, and loan details. It determines the maximum loan amount you can afford while keeping repayments within your surplus income.

Assumptions

• Net income is after tax and used to calculate surplus after expenses.
• Living expenses can be entered annually or monthly and converted accordingly.
• 3% of total credit card limits is added as a monthly expense for buffer.
• Loan repayments are calculated using the standard amortisation formula assuming fixed interest rate.
• Interest rate and term remain constant; no future changes in income or expenses are considered.
• Repayments are shown for monthly, fortnightly, and weekly frequencies.