A lot of people want to know how to boost their borrowing capacity but its actually determined by a variety of factors.
This can include your income, your monthly expenses, credit cards and other debts. For example, if you have a credit card for $10,000, this can actually reduce your borrowing capacity by up to about 50,000. It’s worthwhile when you’re looking at getting a home loan or even before to have a look at all of these factors because if there’s anything else you can close down like old credit cards, it’s best to, because it can actually adversely the impact your home loan application.
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