Tools · rates from today's feed
How much could you borrow, and what would it mean?
Worked out the way Australian lenders do it, at today's rates. Then the part a lender won't show you: the repayment as a share of your pay, what's left each month, and what happens if rates rise. Free, no sign-up, and every assumption is on the page.
A lender could lend you about
$472,018
Tested at 9.34%: today's median variable rate, 6.34% on 10 October 2026, plus the 3% buffer lenders must apply.
What borrowing $472,018 would mean
A lender's figure assumes you could still pay if rates rose 3%, from 6.34% to 9.34%, on a benchmark budget, with nothing left over. Here it is month to month, with the benchmark budget until you enter yours.
| Rate | Repayment | Of take-home | Left each month |
|---|---|---|---|
| 6.34%, today | $2,934 | 50% | $980 |
| 7.34%, up 1% | $3,249 | 55% | $665 |
| 8.34%, up 2% | $3,576 | 61% | $338 |
| 9.34%, up 3% | $3,914 | 66% | $0 |
A comfortable amount, by your rule
$284,274
60% of what a lender would lend. A common rule of thumb is about 30%.
How a lender gets there
- Income after tax
- $5,890/mo
- Living costs (the lenders' benchmark, higher than yours)
- −$1,976/mo
- Left to repay a loan
- $3,914/mo
What moves your number
- If rates rise 0.25%, to 6.59%−$10,150
Save these figures in a free account and HomePlanner keeps the working with your deposit, timeline and the schemes you qualify for. Your numbers go straight into your new account, and nowhere else. Save these figures
An estimate for general information, not a quote, a pre-approval or advice about what you should borrow. It doesn't name or represent any lender; each lender applies its own rates and rules. The living-cost benchmark is our estimate of what lenders use, measured from their own calculators. Nothing you enter here is stored or sent unless you choose to save it or have it emailed to you.
How lenders work it out
Four steps, the same at every bank. The details differ.
01
Your income after tax
Each person's income, taxed at 2026-27 rates with the Medicare levy. Bonus and overtime usually count at 80%, rent received at 75%.
02
Less your living costs
The higher of what you spend and a benchmark for a household like yours. Rent and board come out: they stop when you buy.
03
Less every debt
Card limits at about 3.8% a month, whatever the balance. Car and personal loan repayments. HECS, unless it's nearly paid off.
04
At today's rate plus 3%
What's left has to cover the new loan's repayment at a rate 3% above today's (a 6.34% rate is tested at 9.34%), over 30 years. Most lenders also cap the loan at about 7 times income.
We checked this calculator against nine bank calculators and three others in October 2026, with made-up buyers. For buyers without debts the banks agreed with each other to within about 7 to 12%, and this calculator lands within a few percent of their middle. Debts, children and each bank's own rate account for most of the difference.
Questions
Common questions about borrowing power.
How do lenders work out how much I can borrow?
They take your income after tax, subtract your living costs (the higher of what you declare and a benchmark of typical spending for a household like yours), subtract every debt repayment, and work out the largest loan the rest could repay if the interest rate were 3% higher than today's (a 6.34% rate is tested at 9.34%). That buffer is set by APRA, the banking regulator. Most lenders also cap the loan at around seven times your income.
Why do different calculators give different answers?
Each lender uses its own interest rate, its own version of the living-cost benchmark and its own rules for children, bonuses and debts. When we ran the same made-up buyers through nine bank calculators in October 2026, debt-free buyers landed within about 7 to 12% of each other. Calculators that aren't lenders' can be far off: one we tested defaulted to a 4% rate and gave 60% more.
Does a credit card limit reduce my borrowing power if I pay it off every month?
Yes. Lenders count the limit, not the balance, as if you could draw it at any time. Most count about 3.8% of the limit as a monthly repayment, which on a $10,000 limit takes tens of thousands of dollars off what you can borrow. Cancelling or reducing a card you don't need is one of the quickest ways to borrow more.
Does HECS affect borrowing power?
Yes. Lenders count the compulsory HECS/HELP repayment on your income as a commitment. Since 2025 they may ignore it if the debt will be paid off within about 12 months, and it no longer counts towards the debt-to-income limits APRA tracks.
Is the most I can borrow the amount I should borrow?
Not necessarily. A lender's figure assumes you could still make the repayments if rates rose 3% (say from 6.34% to 9.34%), living on a benchmark budget with nothing left over. That's why this calculator also shows the repayment as a share of your take-home pay, what's left after your own spending, and a comfortable amount by a rule you set. A common rule of thumb keeps repayments to about 30% of take-home pay.
What this calculator uses
Every assumption, in one place.
- Interest rate
- Median owner-occupier variable rate from HomePlanner's rates feed (6.34% across 254 products on 10 October 2026; read live on the page)
- Serviceability buffer
- 3% on top of the rate (3 percentage points), set by APRA
- Loan term
- 30 years, principal and interest
- Tax
- 2026-27 resident rates, low income tax offset, 2% Medicare levy, per person
- Living costs
- The higher of yours and our estimate of the lenders' benchmark, measured from bank calculators' own results
- Credit cards
- 3.8% of the total limit a month
- HECS/HELP
- The 2026-27 compulsory repayment on your income, unless it will be repaid within 12 months
- Bonus, overtime, rent received
- 80%, 80% and 75% counted
- Debt-to-income cap
- 7 times gross income, card limits included
The guide's chapter on getting pre-approved covers what lenders check beyond the numbers. Read it