MELBOURNE, Australia, Sept. 26, 2022 (GLOBE NEWSWIRE) — Understanding borrowing power has become increasingly important when applying for a home loan, and non-bank lender Liberty is helping borrowers make their best.
When it comes to home loans, having more borrowing power generally means those looking to buy a home or investment property have more options. But as interest rates continue to rise, borrowers may find that the maximum amount they can borrow is impacted even more.
The good news is that borrowing power is not set in stone. Liberty says it’s possible for borrowers to improve their capacity and expand their real estate options. According to Liberty communications manager Heidi Armstrong, borrowers can take steps to strengthen their position before applying for a home loan.
“While your ability to borrow may vary from lender to lender, they will generally consider factors such as income, living expenses and any other existing debt,” Ms. Armstrong said. “Reducing credit card facilities as well as existing debts and repayments can help increase your borrowing capacity when the lender makes an assessment.”
As a leader in the Australian mortgage business, Liberty uses sophisticated credit reporting practices designed to help borrowers secure a home loan that suits their needs. With a variety of free-spirited home loans available, Liberty offers tailored solutions designed to help more people secure funds and achieve their homeownership goals.
The fast-growing lender also encourages borrowers to lay the groundwork in advance to help establish a strong position. An online borrowing capacity calculator is a great tool to help you estimate how much you can borrow when shopping for a home loan.
With a range of home loan options and indicative online pre-approval, Liberty can help borrowers assess their options and find the right home loan for their situation.
For those looking to buy property in today’s market, give their borrowing capacity a boost and opt for a flexible home loan solution could help secure their dream home sooner.
Approved candidates only. Lending criteria apply. Taxes and fees are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit License 388133, trading together as Liberty Financial.
Communications Manager, Liberty Financial
+61 3 8635 8888
Image 1: Home loan
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