Hey guys and gals,
just wondering if anyone has links/copies/files for a good and current loan affordability calculator?
I'm specifically after one that can handle multiple properties/loans. I used to have the CBA internal calc's but lost them when my computer died so hoping someone out there could help.
Cheers and thanks heaps in advance,
Andy
PS Ex-lender so prefer to do the calc's myself before bothering any brokers/lenders
If servicing is really tight I'd suggest the Homeloans Ltd calculator.
Hi Andy,
A lot of lender ones are a tad on the anal (general or vague may have been a better choice of word) side.
Have a crack at one from an LMI provider – you can download as an excell sheet for a play around.
Link is here http://www.qbelmi.com/pg-Nsr-Calculator.seoFYI I reckon the best home buying cost calculator is on the NAB website. (I even discretely use that one where I am currently working (underpaid and over qualified….) because it is quick and simple) although I know that is not the caluclator you were after.
I think you will find this qbe one will be ok to give you a general idea.
All the best.
Thanks guys, the QBE one is the type I was after.
Now to get that NSR under 90%
Keep in mind many non-banks have a strict rule in terms on manditory surplus in their calculators. Majors are also heading towards this however I’ve just arranged an approval with a shortfall of $600 per month.
Dont discount the power of a good relationship with your bank…
Don't worry banker, got lender friends coming out of my ears! Just always feel bad getting them to run loan scenarios whilst I'm standing in front of a property
It's been a while since I fit inside the standard criteria anyway and it's just getting more complicated by the day. Almost feel sorry for my bankers… almost
Also remember under NCCP servicing calculators are almost a thing of the past.
Richard Taylor | Australia's leading private lender
Richard, how do they work out servicing now if they don't use a calculator?
Regards,
Andrew
itsandrew
Go as far as you can see and you will see further.
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