Calculate my borrowing power
The effective date of any interest rates is 15 May 2026 unless shown otherwise within interest rate terms and conditions.
Home loan calculators & resources
Buying a property
Frequently Asked Questions
Still have questions:
Your borrowing capacity or borrowing power is an estimate of the amount you could borrow based on your current financial situation. Understanding your borrowing capacity is often the first step in the home buying journey. It gives you an idea of the amount you might be able to borrow when you’re looking to buy a home.
Your borrowing capacity is generally calculated as your net income (income after tax) minus your expenses. These expenses may include normal household costs like food and transport, any current loan repayments, and other financial commitments, such as school fees. The more accurately you can enter these details into the calculator, the more realistic your estimated borrowing capacity calculation could be.
The calculations are estimates, based only upon the information you provide. The borrowing capacity estimate does not constitute an application or approval. No loan fees or charges have been factored into the calculations.
You could increase your borrowing capacity by increasing your income, lowering your expenses, or improving your credit history .
Other factors influencing your borrowing capacity include the loan type, interest rate, and loan term. For more information, read our article “How much can I borrow for a home loan”.
When a lender reviews your home loan application, there’s no one-size-fits-all formula for determining how much you can borrow. How much you earn is only one factor. Your expenses, credit history, any other assets or debts, and the size of your deposit are all important factors considered for a home loan approval.
Yes. Your relationship status will impact your borrowing power. If you share income, expenses, debts, and assets with a partner and you’re applying for a home loan, your borrowing capacity will be calculated according to your shared finances.
Interest rates fluctuate based on economic conditions, inflation and monetary policy set by the RBA. Keeping an eye on RBA announcements and financial forecasts can help you make informed decisions about your loan.
The Reserve Bank of Australia (RBA) sets the cash rate, which influences interest rates offered by banks. When the cash rate changes:
- variable home loan rates may go up or down
- fixed home loan rates remain unchanged for the term of the fixed period, however, the financial institution may change their current rates for new borrowers.
Keeping track of the RBA’s decisions can help you decide when to refinance or lock in a fixed rate.
Home loan repayments are influenced by several factors, including the loan’s:
- current balance
- term (e.g. 20 or 30 years)
- interest rate (fixed or variable)
- repayment type (principal & interest or interest-only).
- linked offset account/sub-account balances (if eligible).
If you have a variable interest rate, your repayment amount may change over time as market interest rates fluctuate.
Your mortgage repayment consists of two parts:
- principal: the amount borrowed
interest: the cost of borrowing.
At Suncorp Bank, home loan interest is calculated daily and charged on your monthly repayment due date. We multiply the remaining balance on your loan by your interest rate and divide it by 365 to determine daily interest. You can use the calculator above to get an understanding of how much interest you could pay on your loan over time.
Since interest rates can change, the calculator provides an estimate based on current rates but does not include all potential fees and charges. If a variable rate loan is selected, repayments may fluctuate over time.
Yes. By making extra repayments you can help pay off your mortgage sooner and reduce your total interest paid. Keep in mind:
- fixed-rate loans may have limits on extra repayments
variable-rate loans often allow unlimited extra repayments.
Another way to reduce interest on your variable home loan is by using an offset account. An offset account may also help to reduce the total cost of repaying your loan. An offset account is a bank account that is linked to your variable home loan. The money in it 'offsets' your variable home loan balance, reducing the total interest you need to pay.
Principal & interest (P&I): You repay both the loan amount and interest, which reduces your total loan balance over time.
Interest-only repayments (requires bank approval) If you are approved, you only pay interest for a set period, resulting in lower repayments initially. However, your repayments will increase later when you start paying off the principal and interest.
Interest-only loans may also have borrowing restrictions or additional conditions, so it’s important to consider your long-term financial goals.
Finding the right home loan depends on your situation. As a start, you could:
- compare loan types such as variable and fixed rate loans
- compare loan features like offset accounts, redraw facilities and making extra repayments
- speak with a home lending specialist for expert advice
Want to crunch the numbers? Try our mortgage repayment calculator can help you to get an indication of what your repayments might look like.
Make your next home loan move with confidence
If you’d like to speak to someone straightaway, please call 13 11 75 Mon-Fri 8am-7pm and Sat-Sun 9am-2pm (AEST)
Australia and New Zealand Banking Group Limited (ABN 11 005 357 522) (ANZ) acquired Norfina Limited (ABN 66 010 831 722 (Suncorp Bank) on 31 July 2024. As Suncorp Bank is now part of the ANZ Group, it may be necessary to vary the terms of your Suncorp Bank product to match the terms of a similar ANZ product. This means you may end up with a product that has different terms and features to those you initially applied for. In any event, Suncorp Bank will provide you with a more detailed notice of these changes if the variation applies to your products. A full list of these changes for each product can be found at suncorpbank.com.au/variation. Please contact us if you have any questions or if there is a feature that is important to you.
Home Loan, Personal and Business Banking products are issued by Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882) to approved applicants only. Eligibility criteria, conditions, fees and charges apply and are available on request. Please read the relevant Product Information Document and terms and conditions before making any decisions about whether to acquire a product.
The calculations provided are estimates only and based upon the information entered into the calculator by the user. The borrowing capacity estimate does not constitute an application or approval. No fees or charges have been factored into the above calculation. Please refer to Lending Fees and Charges for all applicable fees.
# COMPARISON RATE:
A comparison rate is a rate that indicates the true cost of a loan. This comparison rate is based on $150,000 over a term of 25 years and incorporates certain fees and charges that are applicable for the chosen product.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed rate period. Comparison rates for Interest Only Variable home loans are based on an initial 5 year Interest Only period.
The information is intended to be of general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries.
Please contact us on 13 11 75 or visit your local branch and ask to speak to a lender to discuss a more accurate your borrowing capacity.
You can also start the process today by applying for a home loan pre-approval.
What can I expect?
Whether you want to get pre-approval, a new loan or refinance your existing loan with Suncorp Bank, you can apply quickly online. We’ll reply within two hours or by the next business day.
