Is this a formal pre-approval result?
No. This is a planning estimate from your repayment comfort level. Formal pre-approval depends on lender assessment and documentation.
Mortgage pre-approval budget planner
Start with your repayment comfort zone, then infer a realistic loan and purchase range.
Indicative range from repayment budget
If your monthly repayment comfort is $4,200 with assumptions of 6.2% p.a., 30 years, and 20% deposit, your indicative loan size is $685,749 and indicative purchase range is $857,186 (deposit about $171,437).
Before applying
- Stress-test at +1% and +2% rates to protect cashflow.
- Include council rates, insurance and strata in your monthly budget.
- Keep emergency buffer outside deposit and fees.
Preapproval playbook
Related mortgage tools
FAQs
What should I include in repayment comfort budget?
Include mortgage repayment, rates, insurance, strata, utilities and buffer for rate rises so your budget remains resilient.
How conservative should my assumptions be?
Stress-test at higher rates and keep emergency funds after deposit and purchase costs to avoid overcommitting.