BORROWING POWER 📣
Here's the scenario... average family household, married couple, 2 kids
Both working...
Dad full-time - receives $120,000 + $20,000 bonuses
Mum part-time (3 days) - receives $58,000 + $10,000 in Over-time
Now they've got some typical liabilities...
Credit card limit - $15,000 💳
x2 Car loans - $15,000 left on both - repayments total - $800 per month
HECS debt - $9,000
The left hand column shows us the MAX BORROWING POWER with the liabilities included 💵
The right hand column shows us the MAX BORROWING POWER with those liabilities closed! ❌
As you can see, significantly higher borrowing power on with those liabilities closed... This is one reason why having a broker in your corner before you apply for home loans is important, because we can test and adjust things before going to a lender.
Book a 30 minute discovery call - linktr.ee/rossthemortgagebroker
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