Most comprehensive how much can I borrow calc

I am looking a a defence loan with the NAB so a Mortgage Broker wouldnt be able to help.

I used their online calc. to see how much I can borrow and it seems to come up with a higher amount than when I called them several weeks ago.

Is there a very comprehensive online calculator I can use? I am not ready to go to the bank as yet (still waiting on the cooling off period on my property to end) but want to have as many ducks in a row as I can.

no, online calculators are purely a sales tool to get you to contact the lender/broker to make a face to face appointment.
Try the AMP one here>>> use the AMP servicibilty calculator and open the user guide (adjacent to it on the web page) to help you decipher it. Might be of some assistance to you.

When the spreadsheet opens up you'll think "is this it?" but look along the bottom of the page for the various sheets. I'd say it's designed for their own staff or brokers.
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Hi Penny

We have placed many a defence loan...........

If u are going to use NAB for ur defence loan the NAB calc will apply.

its one of the simplest service calcs around.

if u want a copy any broker can email it to you, let me know

Thanks I have used the NAB calc on their website is this the one?

I did not know a mortgage broker could help with a Defence Loan when I called NAB they said it had to be done directly (scratches head)

If you have a different calc I would love to have it emailed to me. I can PM you my email if nessacery

In the meantime will check out the AMP one thanks
I think what NAB was saying to you is that you wont find broker to help u with it.

We package lots of things that arent considered by the lenders as not possible. Getting paid for it is a different matter.

There are too many calcs around on websites so I cant comment which is which

Can u post a link so we can see to compare ?

the actual nab calc will provide a little more borrow cap i most circumstances

I believe the site calc works on an LVR > than 80 and that sucks about 5 % of the borro cao

Our scenario is something like this.

House purchased $635k, loan needed $410k (this takes into account all legals and deposit money)

Joint income total $86000 gross plus Family benefits of $11500 net per annum no other debts. Have contents, cars, jewellery and super totalling about the 250k mark.

Calc seems to let us have bout 435k so I am hoping 410k from the bank won't be an issue? When I spoke to the lender on the phone they have a default $3100 outgoings per month for a family of our size (2 adults 3 kids) but we manage on about $2400 per month easily and that has a "slush fund" for emergencies.

Thoughts? I will go to the bank in the next 2 weeks but waiting for everything to be sorted re settlement dates etc