Your Borrowing Power Calculator

Your borrowing capacity is influenced by several factors, including your income, existing debts, credit score, employment history, and the type of loan you are applying for. Lenders also consider your living expenses and other financial commitments.

Improving your borrowing capacity can be achieved by reducing your existing debts, increasing your income, improving your credit score, and saving for a larger down payment. Maintaining a stable employment history and minimizing unnecessary expenses can also help.

Your credit score plays a significant role in determining your borrowing capacity. A higher credit score indicates lower risk to lenders, which can increase your borrowing capacity and help you secure better loan terms.

Lenders prefer borrowers with stable and consistent employment histories, as it indicates reliable income. Self-employed individuals may need to provide additional documentation to prove their income stability, which can influence their borrowing capacity.

Yes, your borrowing capacity can change over time based on shifts in your income, expenses, credit score, and overall financial situation. Regularly reviewing your financial health and making necessary adjustments can help maintain or improve your borrowing capacity.