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Borrowing capacity

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First Home Buyer Loans, Home Loans, Tips

Understanding Your Borrowing Capacity

Home loan borrowing capacity.

If you’re looking to buy a home, it’s important to understand your home loan borrowing capacity. It’s a smart idea to get a loan pre-approval before you start looking for a home for two reasons:

1) it will let type of home and location that you can afford, and

2) it will put you in a strong bargaining position when you want to make an offer on a home that you like. Your offer will be much more likely to be accepted than an offer that is subject to finance approval.

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