How much can I borrow?

Borrowing calculators

Our calculators can help you work out how much you can afford to borrow for all kinds of purchases.


How much can I borrow for a home?

Buying a home is a major decision that takes planning, research and careful budgeting.

Smart tip

Aim to save a deposit of 20% or more of the purchase price of a home. Find out more about the loan to value ratio for home loans.

Before you start looking for a property, you'll need to plan ahead to ensure you can balance the mortgage repayments alongside having money available for emergencies.

Work out how much you can afford to borrow on a home loan and what your repayments will be.

Mortgage calculator

If you already have a home loan, our mortgage switching calculator can help you work out whether switching to another mortgage will help you save money.

Work out whether you will save money by switching to another mortgage.

Mortgage switching calculator

These webpages also have useful tips on home loans and mortgages:

How much can I borrow for a car?

Before you hit the car yards, do some research so you don't get into financial difficulty.

Smart tip

The more money you can save towards your car, the less you will need to borrow.

Use our savings goals calculator to work out how much you can save.

Make sure you have the budget for a car you want and remember to also factor in the yearly costs of registration, insurance, maintenance and fuel.

Work out the real cost of buying and running a car.

MoneySmart Cars app

Here are some quick links to our webpages on buying a car and getting a car loan:

How much can I borrow if I want a payday loan?

If you need money in a hurry, you may want to take out a payday loan (also called a small amount loan, cash loan or quick loan).

Before you do, you need to understand the following:

  • how much you will pay in fees
  • how much the payday loan will cost you in total
  • how much your fortnightly repayments will be.

Work out how much the loan will cost you and what your repayments will be.

Payday loan calculator

We also have sensible tips on payday loans.

How much do I have?

Before rushing in and borrowing money, it's essential to work out where you stand financially.

We have several calculators that help you compare the difference between money coming in (salary, wages, benefits, etc) and money going out (expenses, bills, etc). What remains will give you a better idea of what repayments you can afford.

Work out if you can afford to take out a loan. 

Budget planner

Another useful exercise is to list all of your assets and liabilities to get an overview of your current financial position. Knowing your overall financial situation can help to ease money stress and make you feel more secure and in control.

Start now and review your overall financial position.

Net worth calculator

A loan of any size is a major financial commitment. Use our tools to work out whether you can afford to take out a loan and how much you can afford to borrow.

Related links

Last updated: 27 Jun 2017