Getting a home loan is not just about your salary.
Before a bank says yes, they usually look at a few key things:
1. Your income
They want to see whether your income is stable, consistent, and strong enough to support the loan.
2. Your expenses
Banks review your living expenses closely. Even if your income is good, high spending can reduce borrowing capacity.
3. Existing debts
Credit cards, personal loans, car loans, HECS/HELP debt, and other liabilities all affect serviceability.
4. Your credit history
Repayment history matters. Late payments, defaults, or too many recent credit enquiries can be a red flag.
5. Your deposit and savings pattern
Some lenders want to see genuine savings, while others focus on overall position, depending on the loan type.
6. Your employment type
PAYG, casual, contractor, or self-employed borrowers are all assessed differently. The right lender choice matters.
The reality is this:
A loan decline often does not mean you cannot borrow. It may simply mean your application was not structured properly or sent to the wrong lender.
For property investors, getting the loan approved is only one part. Getting the structure right early is what protects your future borrowing power.
If you want to understand where you stand before applying, feel free to reach out.
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