How Much Can I Borrow? Mortgage Calulator
Obligo – the mortgage experts.
“How much can I borrow” is often the first question that that most people ask themselves when they are considering either replacing an existing mortgage (remortgage) or taking out a mortgage for the first time.
The Obligo “how much can I borrow” calculator is designed specifically to give a quick assessment. To get the best of the “how much can I borrow” calculator follow five simple steps.
- How much can I borrow: Deposit.Enter the amount of equity or deposit that you have. Make sure you keep enough back to cover legal fees and moving expenses if required.
- How much can I borrow: Annual income. Enter your total income including bonuses, commissions, basic salary, or profits before tax is deducted. The “how much can I borrow” calculator uses mortgage industry averages to asses your income.
- How much can I borrow: Existing credit. Your existing monthly credit commitments will affect the amount you can borrow. Enter the amount you spend each month repaying your loans credit cards, and store cards.
- How much can I borrow: Mortgage amount. Entering the above information will tell you the maximum mortgage that lenders may consider – however you can move mortgage amount slider up or down to see other mortgage scenarios.
- How much can I borrow: How much on capital repayment? How much can I borrow? Calculator allows you to adjust the mortgage depending on your preferred repayment method. You can choose between interest only and capital repayment and any part thereof.
- How much can I borrow: Mortgage term. Use the slider to adjust the number of years and months you wish to take the mortgage over.
