Previous - Purchase Capacity Indices
  • See how your home purchase capacity has changed over time
Extra services
Send page to a friend printer friendly page icon

Home Loan Advice Centre - Purchase Capacity Index

The most common questions asked by new home buyers are ...What price property can I buy?, How much deposit do I need?, and How much will my repayments be?

Home Loan Advice Centre is giving you the answers.

The Home Loan Advice Centre - Purchase Capacity Index will be pubished on a quarterly basis from Oct 2005 and gives the home buyer an indication of their capacity to purchase at different levels of income.

You can subscribe to receive each new Home Loan Advice Centre - Purchase Capacity Index by email when they are released each quarter. Just enter you email address in the Newsletter subscription field at the end of this page and follow the prompts.

Past Indices

October 2005 (Coming soon)

 

 

Instructions

  1. Find your relevant table
  2. Go across the top of the table to your income level.
  3. The relevant column gives you an estimate of your figures

Example

 

We have made the information as accurate as possible so you should be able to get a reasonably close idea of your capacity from the tables. However, because numerous regularly changing factors affect these figures, they can only ever be used as a guide. We have had to make a number of assumptions to arrive at these figures such as assuming the applicant has zero liabilities (ie no other loans). The maximum property price will decrease the higher your liabilities are. See the list at the end of this page.

if you want to find your precise purchase capacity, it is best to speak to Home Loan Advice Centre so that we can do precise assessment - including taking any liabilities into consideration. We also may be able to increase your purchase capacity above what is shown in the tables by utilizing other "non-standard" loan types or by making allowable adjustments to the various lender's serviceability calculators. This can only be done on a case by case basis.

We will soon expand the Home Loan Advice Centre - Purchase Capacity Index to include more scenarios ie for non-first home buyers, and for applicants with dependent children.

 

Assumptions

  1. all calculations done assuming no other debt and zero credit card limits
  2. all loans < 500K calculated as 95% LVR loans
  3. all loans 500K - 600K calculated as 90% LVR loans
  4. all loans >600K calculated as 85% LVR loans
  5. assumes all mortgage insurance premiums can be capitalised.
  6. incomes for joint applicants are split evenly, results may differ slightly if otherwise.
  7. maximum lend is calculated by running income figures over a number of banks serviceability calculators and using "near maximum result"
  8. repayments based on interest rate of 6.72%. Actual interest rate should be in this vicinity however is dependent which lenders customers qualify for
  9. dependent children classified as <18y old and living at home. Capacities shown may increase slightly if family allowance benefits are receivable.

© Home Loan Advice Centre 2005 – all information provided on the Home Loan Advice Centre website is intended as general information only and is not provided as professional advice. Home Loan Advice Centre does not warrant the accuracy or completeness of any information on this website and does not accept liability or responsibility for any information nor for any actions taken by you or any another party in connection with it.

 

--------------------------------------------------------------------------------------------------------------------------