CONFUSED ABOUT HOME LOAN APPROVALS?
/Ready to buy a property? Then you should consider obtaining a pre-approval from a lender. Pre-approval – also known as Conditional Approval or Approval in Principle – is an indication from a lender as to how much you can borrow from them.
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Loanscape has today released its Borrowing Capacity Index for Q2/2024. It shows that the borrowing capacities of Australian individuals and families have stabilised after the sharp decline over the past 2 years. Lower income borrowers continue to be disproportionately impacted by interest rate increases: the family income required to qualify for the average size loan in Australia is 35% higher than 2 years ago.