If you applied for a loan with an interest rate of 2.09%, lenders would have to assess whether you could repay the loan if the rate increased to at least 5.09%.
APRA expects this change will reduce the average person’s borrowing capacity by about 5%.
However, each person’s situation is unique. Some borrowers may not experience any reduction in their borrowing capacity. Others might experience a larger impact.
In this new home loan environment, it's never been more important to get help from an expert broker who's fully across the new rules. As your broker, I can:
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Maximise your borrowing capacity so you can buy your dream home
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Show you how your borrowing capacity can change from lender to lender
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Compare dozens of lenders and hundreds of loans for you