Each lender uses a different formula based on your circumstances to determine how much of a risk they consider you to be, and ultimately, how much they are willing to lend to you.

For example, based on a couple applying for a loan with $95,000 combined income, 2 vehicles, one child, a $5,000 credit card facility, a car loan of $1,000 per month and a 30-year term of borrowing, different lenders will lend the following;

As you can see, the amounts vary by a great deal. Depending on where the couple is to take out their loan, they may be able to borrow anywhere between $280,500, and $392,825. The figures given are based on actual amounts lenders may loan. Your own personal circumstances would have to be taken into consideration when selecting which mortgage is right for you, and exactly how much you may be able to borrow.

A good mortgage broker will be able to guide you to your best options for a loan that will suit your individual needs while getting for you the best interest rate available combined with the best terms for your needs.

Only an experienced broker, like Mrs. Mortgage, who has enough experience and knows the marketplace well will be able to give you the service you deserve. Most people will purchase just three houses in their lifetime. It is important that you get the whole deal right.

Mrs. Mortgage is committed to you, because she works for you, not for the bank.

Give Mrs. Mortgage a call and find out for yourself.