BSB 806 015

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BSB 806 015

Home Loan Borrowing Calculator

Use this home loan borrowing power calculator to work through the numbers and take your first step in your home buying journey, having confidence knowing you are making a commitment you can comfortably afford.

How to use this borrowing power calculator

Provide a few simple income and expenditure details, such as your salary, monthly living expenses and existing loans, and our calculator will estimate how much you could be able to borrow. It will also calculate what your loan repayments would be based on current P&N Bank home loan interest rates and products.

Choose a home loan product, loan term, and repayment frequency to suit your needs to get a clear picture of both your borrowing power and estimated mortgage repayments. With these estimates in hand, you’ll have a better understanding of what home loan amount you can comfortably afford, which may increase your chances of getting loan approval.

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Frequently asked questions

  • What is borrowing power?

    Your borrowing power is an estimation of how much you can afford to borrow from a lender when you apply for a home loan. Borrowing power compares your personal financial circumstances against the loan amount you're wanting so you can determine if the monthly principal and interest repayments are affordable.

  • What is the maximum borrowing power?

    Your maximum borrowing power is only limited by the total difference between your average income and living expenses. If you have a high income and have a lot of money left over after paying off your monthly financial commitments (rent, food, living expenses, subscriptions etc.), then you'll have a higher borrowing power than if you had minimal savings.

  • Do I need to calculate my borrowing power to get a home loan?

    You don’t need to calculate your borrowing power to get a home loan. With that said, it can be a useful way to know how much you may be able to borrow prior to submitting a home loan application.

    When you apply for a home loan, the lender will perform a similar calculation to determine whether or not you can afford the principal and interest repayments. Lenders will require that you submit evidence of your income and expenses so they can assess your full financial situation and ensure you aren't provided with a loan you can’t comfortably afford to repay. Our lenders will always ensure responsible lending obligations are being met. 

    If you don’t calculate your borrowing power, you could be applying for home loans that are out of your price range, leading you to get rejected by lenders. Getting rejected for too many home loans in quick succession can negatively impact your credit score, making it harder for you to get a competitive finance option.

    If you're unsure of anything, you should always seek professional advice from an independent financial expert.

  • How accurate is my borrowing power amount?

    The home loan borrowing power calculator gives you an estimate of your borrowing capacity based on P&N home loan interest rates and products. If approved for a home loan with P&N Bank, your monthly repayments may be more or less expensive depending on interest rates at the time, applicable bank fees and other factors. The results from this calculator are only meant as an indicator of your home loan repayments for your specified loan amount.

  • Can my income support home loan repayments?

    Once your income and expenses are taken into account, our home loan borrowing calculator can help estimate the maximum loan amount you could afford to repay each week, fortnight or month.

  • How can I improve how much I can borrow?

    You could improve your borrowing power by paying off outstanding loans or credit cards, making adjustments to living expenses or increasing your income. Any action you take that increases your level of disposable income and financial freedom will improve your borrowing power.

  • How can I calculate borrowing power for a joint home loan application?

    Our home loan borrowing power calculator can estimate your potential borrowing power for both a single or a joint application. Simply set your application type to joint to get an estimate of your combined home loan borrowing power.


The results from this calculator should be used as an indication only. Figures provided are for illustrative purposes only and are based on the information provided. Results will vary depending on the applicant’s residential location. The calculations do not take into account any product features or fees and charges that may be charged to your loan or fees such as Lenders Mortgage Insurance, which if applicable will add to the cost of your loan and repayments. Results do not represent a quote or pre qualification for a loan. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change. Lending criteria applies to the approval of credit products. Terms and conditions apply and are available on request. Fees and charges are payable.

Calculator by Widget Works

Credit products issued by Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. Lending criteria, terms & conditions, fees & charges apply. Rates subject to change.

Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. For variable Interest Only loans, comparison rates are based on an initial 3 year Interest Only period. For fixed Interest Only loans, comparison rates are based on an initial Interest Only period equal in length to the fixed period. During an Interest Only period, your Interest Only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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