Effective Ways to Increase Your Borrowing Capacity

I’m always on the hunt for relevant info and I loved this - one of the best articles I’ve seen on this topic for a while. Here are a few paragraphs as a taster... 

Buying your dream home is often fraught with tight requirements. It is better to make your loan application attractive when it comes to the lender’s assessment. You can explore monthly payments, your borrowing amount, the interest rates, and the duration of the payment of mortgage. This can help you compare different lenders and make your choice easier

An increased borrowing capacity is beneficial to anyone who wants to ensure a good return on investment. There are several factors involved – your income and commitments, lifestyle and expenses, your credit history, property deposits, loan type and terms and interest rates, your assets and the value of your property.

Do extensive lender research

Lenders operate in different ways when it comes to income. Some allow share capital as income while others do not. So, it is very important to do your research first and take a look around for a lender that can serve you best.

Healthy credit history

Having a good credit history can also increase your borrowing capacity. Paying your bills on time says a lot about you being a responsible borrower.

Pretty valuable stuff, I’m sure you’ll agree! Why not check out the whole article here and share your thoughts with me afterwards: call (07) 3491 8883 or email me at [email protected].

Thanks,

Tony