How Much Can I Borrow?

woman asking how much she can borrowAre you considering purchasing a new home, but unsure of how much you can afford? As mortgage advisers, we understand that determining your budget can be a challenging task, which is why we are here to help you figure out how much you can borrow.

The amount you can borrow depends on several factors such as your income, debts, and credit score. A lender will take these factors into consideration to determine the maximum amount you are eligible to borrow.

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Here are a few guidelines to help you understand how much you can borrow:


Your income plays a significant role in determining how much you can borrow. Lenders consider your gross monthly income, including any additional income sources, to calculate the amount you are eligible to borrow.

Deposit Amount

The size of your deposit will also affect the amount you can borrow. A larger deposit will result in a lower mortgage loan amount requiring lower minimum repayments, while a smaller deposit will result in a larger mortgage loan, requiring higher regular repayments.

Debt-to-Income Ratio (DTI)

Your debt-to-income ratio (DTI) is the amount of debt you have compared to your income. The lower your debt to income ratio, the more you will be able to borrow.

Credit Score

Your credit score is an important factor that determines your eligibility for a mortgage loan. A higher credit score will allow you to borrow more, while a lower credit score may result in a lower borrowing limit.

To get a better understanding of how much you can borrow, it is advisable to get pre-approved for a mortgage. This process involves a review of your financial information to determine the maximum amount you are eligible to borrow.

At Boost Brokers, we are committed to helping you find the best mortgage solution for your needs. Our team of experienced professionals will work with you to determine the amount you can borrow and help you secure the best mortgage rate possible.

Contact us today to get started on your journey to homeownership!

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