If you want to make smart repayments and know which loans you might qualify for, it’s important to understand your borrowing power in terms of your salary and expenses. Once your expenses are deducted from your gross income, you are left with either a shortfall or a surplus.

A surplus doesn’t necessarily mean that you’ll get your loan approved. Any lender will need to complete a full assessment that goes beyond your income. They’ll look at things like your credit history and credit score, savings and employment to make a final decision. By using this tool, you can know ahead of time if you meet or exceed the minimum surplus. This can save you plenty of time applying for loans that you may not get approved for.

Use the borrowing power calculator to understand how much you can borrow based on your income and expenses and what your repayments will look like in the future.