Living Expenses and Budget
It’s no secret that the cost of living worldwide is rising – and Australia is no exception.
It’s important to match the household expenditure measure in this regard. While prepping your home loan application can be a mammoth task (especially when trying to keep your living expenses under control) our Budget Planner can help.
This intuitive Living Expenses Calculator will help you to discover how your spending compares with the average cost of living across the nation. Also, you’ll be able to answer the penultimate question: Will the result stop me from being able to get a loan?
Our innovative calculator uses various things to unlock the answers you seek: Your family size, location, lifestyle and more. Even if your monthly commitments are on the lower side, there is a Government Regulated Index known as “Household Expenditure Measures” – the minimum lenders will use.
Sound confusing? Don’t worry. Simply organize a consolation with a REAG broker so we can assist with working out whether you can afford a loan from a lender’s point of view.
Remember: This is a general guide. Living expenses can vary month to month, and the only way to know for sure is to chat with a trusted mortgage broker able to guide you on the right path.