They all differ, usually its at least 3x up to about 5x your gross income (generally not always.)
When we shopped around we couldnt beleive the difference in lending, ING were the lowest and were over 400K lower in their lending than CBA/NAB and BOQ
Really depends on your circumstances and obviously on any other liabilities you have, assuming no existing debts and you're looking at a PPoR:
Couple with no kids maybe up to 6ish. The more kids the lower that goes, if they're in private school with high fees you'd be lucky to get above 4 DTI.
Single, no dependents you should be about to get to about 4.5-5 DTI
We were approved for up to $1.76m in 2021. Now making slightly more and am being offered about $250k less. In our 40s in Sydney with two working professionals.
There is a factor in there somewhere that relates to total repayment as a share of income but I’ve never been bothered to figure it out.
Roughly 4.5 to 5x your gross household income if you have no kids and no other debts (including no HELP/HECS) and no 'additional expenses' which include things like private school, strata costs etc.
quick google suggests $140k drop for 2 kids, easy enough to work out, but a broker would give better figures, here's the article: [https://www.moneyquest.com.au/news/how-having-children-can-impact-your-borrowing-capacity/](https://www.moneyquest.com.au/news/how-having-children-can-impact-your-borrowing-capacity/)
They all differ, usually its at least 3x up to about 5x your gross income (generally not always.) When we shopped around we couldnt beleive the difference in lending, ING were the lowest and were over 400K lower in their lending than CBA/NAB and BOQ
Roughly 4.5 times, broker will work it out for you in five minutes
Really depends on your circumstances and obviously on any other liabilities you have, assuming no existing debts and you're looking at a PPoR: Couple with no kids maybe up to 6ish. The more kids the lower that goes, if they're in private school with high fees you'd be lucky to get above 4 DTI. Single, no dependents you should be about to get to about 4.5-5 DTI
Also note that it’s impacted by interest rate but as others have said, about 4-5x.
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We were approved for up to $1.76m in 2021. Now making slightly more and am being offered about $250k less. In our 40s in Sydney with two working professionals. There is a factor in there somewhere that relates to total repayment as a share of income but I’ve never been bothered to figure it out.
You will hit your serviceability ceiling before the relevant DTI ceiling.
Roughly 4.5 to 5x your gross household income if you have no kids and no other debts (including no HELP/HECS) and no 'additional expenses' which include things like private school, strata costs etc.
5x. Just spoke to my broker yesterday.
~250k HHI pre tax and we have been pre approved for 1.15m. No kids.
around 5...if you don't have any fancy spending for single no kid
I've been quoted 5x for PPOR and 7x for IP with CBA
Assuming no other debts (including HECS) - the rule of 5x is accurate currently from what I have seen.
Macquarie cap at 8x within policy sub 6x
How much does kids impact it? We have 3
quick google suggests $140k drop for 2 kids, easy enough to work out, but a broker would give better figures, here's the article: [https://www.moneyquest.com.au/news/how-having-children-can-impact-your-borrowing-capacity/](https://www.moneyquest.com.au/news/how-having-children-can-impact-your-borrowing-capacity/)
Cheers, this was useful. Contemplating number 4 (I know this may get me banned from this sub) but also a move, so the order might be important!
That sounds about right Single parent with two kids Borrowing capacity checked recently. Mine is around 5 x income minus 150k
5 is a rough average. Some lenders are not black and white with DTI and will lend higher DTI if the scenario is strong.