Transcript
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There are several important factors that may be taken into account when determining your borrowing power. Here are five points to consider when it comes to your borrowing capacity.
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#1 – A joint application may increase your borrowing power.
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#2 – How many dependents you will have will be considered.
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#3 – If you have less than a 20% deposit, your lender may ask you to pay LMI.
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#4 – The higher your income, the higher your potential borrowing power.
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#5 – Reduce existing liabilities such as credit card limits.
