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Hot take: I quit guessing my borrowing power by hand and used a broker's calculator instead
For about 8 months I was working out what I could borrow on a scrap of notebook, just adding up my pay and guessing at living costs, and I was off by nearly $60k in the wrong direction. Last week a mate in Brisbane told me to ring a broker and let them run the numbers properly, so I did and it took 20 minutes on the phone. Turns out my credit card limit was being counted in full, not by what I actually owe on it, which is what stuffed up my math. I also had no clue lenders look at overtime differently from base pay. If you've been doing your own sums in a notebook, what number did you land on and did it match what a broker gave you?
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