--- title: "How borrowing power is calculated in Australia — CheckRate" description: "Australia has no single official borrowing-power figure. Here is how APRA, the RBA and ABS data define what banks actually assess, and what the latest lending n" lang: en-AU json-ld: | { "@context": "https://schema.org", "@type": "Article", "headline": "How borrowing power is calculated in Australia", "description": "Australia has no single official borrowing-power figure. Here is how APRA, the RBA and ABS data define what banks actually assess, and what the latest lending numbers show.", "image": [ "https://images.unsplash.com/photo-1454165804606-c3d57bc86b40?q=80&w=870&auto=format&fit=crop&ixlib=rb-4.1.0&ixid=M3wxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHx8fA%3D%3D" ], "datePublished": "2026-06-16T00:00:00+00:00", "dateModified": "2026-07-02T05:03:48.474514+00:00", "author": { "@type": "Organization", "name": "CheckRate" }, "publisher": { "@type": "Organization", "name": "CheckRate" }, "mainEntityOfPage": { "@type": "WebPage", "@id": "https://checkrate.com.au/borrowing-power" } } --- [CheckRate ](/) [Library](/articles) Back Interest Rates # How borrowing power is calculated in Australia Australia has no single official borrowing-power figure. Here is how APRA, the RBA and ABS data define what banks actually assess, and what the latest lending numbers show. 10 min read 16 June 2026 Updated 02 July 2026 Fact checked In this article 1. [How banks assess borrowing capacity in Australia](#how-banks-assess-borrowing-capacity-in-australia) 2. [How is home loan serviceability assessed?](#how-is-home-loan-serviceability-assessed) 3. [How income and expenses affect borrowing power](#how-income-and-expenses-affect-borrowing-power) 4. [How did interest rates affect loan sizes between 2022 and 2026?](#how-did-interest-rates-affect-loan-sizes-between-2022-and-2026) 5. [What are DTI and LVR limits for home loans?](#what-are-dti-and-lvr-limits-for-home-loans) 6. [How much are first-home buyers borrowing in Australia?](#how-much-are-first-home-buyers-borrowing-in-australia) 7. [Which states have the highest average home loan sizes?](#which-states-have-the-highest-average-home-loan-sizes) There is no single national borrowing-power figure in Australia. Banks assess borrowing capacity by looking at **repayment affordability, existing debt, income** and the size of the loan compared with the property value. These checks are commonly linked to three measures: **serviceability, debt-to-income ratio and loan-to-value ratio**. Together, they help lenders decide how much a borrower may be able to borrow. Key figures 3.0 pp Minimum serviceability buffer above loan rate, **confirmed May 2026** ~9% Modelled test rate for new **owner-occupier loans** at April 2026 rates $735K Average owner-occupier loan size, **March quarter 2026** +21.9% Rise in average owner-occupier loan size over **four years**, despite fewer loans Section 01 The framework ## How banks assess borrowing capacity in Australia Residential mortgages account for **over 60 per cent** of Australian bank loan portfolios, but there is no single published figure for borrowing power. Instead, banks assess borrowing capacity using rules and data linked to the **Australian Prudential Regulation Authority (APRA)**, the **Reserve Bank of Australia (RBA)** and the **Australian Bureau of Statistics (ABS)**. APRA sets lending standards, the RBA influences borrowing costs through the cash rate, and the ABS records what households are borrowing. Together, these sources help explain how banks assess home loan applications. When a borrower applies for a home loan, banks mainly assess whether the borrower can afford repayments and whether their debt level is manageable compared with their income and the property value. These checks commonly use **debt-to-income ratio (DTI)** and **loan-to-value ratio (LVR)**. The three main borrowing-power checks Borrowing capacity is usually assessed through three measures working together. Serviceability checks whether repayments would remain affordable at a higher test rate. DTI measures total debt compared with gross income. LVR measures the loan amount compared with the property value. No single maximum loan amount applies to all borrowers. Australian home lending at a glance, mid-2026 Latest published figures from APRA, RBA and ABS Indicator Latest official figure Date Mortgage serviceability buffer **3.0 percentage points** Confirmed 28 May 2026 Cash rate target 4.35% Effective 6 May 2026 Average rate, new owner-occupier loans (all) 5.98% April 2026 Average rate, new investor loans (all) 6.15% April 2026 Modelled test rate for new owner-occupier loans **~8.98%** April 2026 New dwelling loan commitments 139,794 March quarter 2026 Value of new dwelling loans $103.0 billion March quarter 2026 Average owner-occupier loan size **$735,000** March quarter 2026 Average investor loan size $709,000 March quarter 2026 New loans with LVR 80% or more 32.2% December quarter 2025 New loans with DTI 6× or more 6.8% December quarter 2025 The modelled test rate adds APRA's 3.0 percentage point buffer to the RBA's average new owner-occupier loan rate for April 2026. Individual lenders may use higher assessment rates. **Source:** APRA, RBA and ABS. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Section 02 Serviceability ## How is home loan serviceability assessed? At April 2026 mortgage rates, the modelled minimum test rate was close to **9 per cent** for new owner-occupier loans and slightly higher for investor loans. This is based on APRA's 3.0 percentage point serviceability buffer being added to the loan rate. Serviceability is used to test whether a borrower could still afford repayments at a higher assessment rate. This creates a buffer in case interest rates rise after the loan settles. On 28 May 2026, APRA confirmed that the buffer would remain at 3.0 percentage points. The buffer was raised from 2.5 to **3.0 percentage points in October 2021**, before the RBA began lifting the cash rate in May 2022. This means borrowing capacity was already being tightened before interest rates started to rise. Modelled serviceability test rates in Australia, April 2026 RBA average new-loan rate plus APRA's 3.0 percentage point buffer Loan type Average new-loan rate Buffer Modelled test rate Owner-occupier, all loans 5.98% +3.00 pp **8.98%** Owner-occupier, principal & interest 5.92% +3.00 pp **8.92%** Investor, all loans 6.15% +3.00 pp **9.15%** Investor, principal & interest 6.09% +3.00 pp **9.09%** These figures add APRA's 3.0 percentage point buffer to the RBA's average new-loan rates for April 2026. They show the modelled rate used to test repayment capacity. Individual lenders may use higher assessment rates. **Source:** RBA housing lending rates (April 2026) and APRA serviceability settings (confirmed May 2026). ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Beyond the rate buffer, lenders also assess income, debts and living expenses. Some income may be discounted before it is counted. For example, rental income and other non-salary income may be reduced by **at least 20 per cent** in serviceability calculations. Credit card and revolving debt is assessed against the **approved credit limit**, not only the amount currently owed. Interest-only loans are also tested using **principal-and-interest** repayments, so lenders assess whether the borrower could afford the loan after the interest-only period ends. Lenders must also compare the borrower's declared living expenses with a suitable benchmark figure. They generally use whichever figure is higher. Benchmark tools such as the Household Expenditure Measure (HEM) or Henderson Poverty Index (HPI) cannot be used as the only measure of expenses. Formal exceptions to the serviceability buffer cover **less than 5 per cent** of new housing lending. This means the buffer applies to most new home loans. Section 03 Income & expenses ## How income and expenses affect borrowing power Wages grew **3.3 per cent** over the year to March 2026, while the Consumer Price Index rose **4.2 per cent** over the year to April 2026. This means prices rose faster than wages over this period. Housing costs rose 6.3 per cent over the year, and transport costs rose 6.6 per cent, both above headline inflation. These cost pressures matter because lenders assess whether a borrower can afford repayments after allowing for income, debts and living expenses. Serviceability assessments are not based only on current interest rates. Lenders also consider whether a borrower could manage repayments if income fell or costs increased over the loan term. Higher Education Loan Program (HELP) debt is treated differently from other debts. It is excluded from debt-to-income ratio (DTI) calculations, and lenders have some flexibility to exclude HELP repayments from serviceability assessments where those repayments are unlikely to materially affect the borrower across the loan term. APRA still requires lenders to consider the borrower's full financial position. Cost and wage growth in Australia, March to April 2026 Headline CPI 4.2% Apr 2026 Housing CPI 6.3% Second highest Transport CPI 6.6% Apr 2026 Food CPI 2.8% Apr 2026 Wage growth (WPI) 3.3% Mar Q 2026 Wage–CPI gap 0.9 pp WPI vs CPI Living cost pressures varied by household type. The ABS Selected Living Cost Indexes rose between **2.6 and 5.2 per cent** over the year to March 2026, reflecting different spending patterns among renters, mortgage holders, pensioners and other household types. These figures are not used directly in individual lender calculations, but they help show the wider cost environment facing borrowers. Indicative borrowing-power estimator A simplified illustration of how lenders test serviceability — your declared income against living expenses, other debt and an assessment rate that adds APRA's **3.0 percentage point buffer** on top of the loan rate. Gross household income (per year) Monthly living expenses Other monthly debt repayments Loan interest rate (%) Indicative max loan $486,813 At 5.98% + 3.0 pp test rate Test repayment $3,910/mo At 8.98% assessment rate Actual repayment $2,912/mo At 5.98% over 30 years P&I Indicative only. Lender calculators apply discounts to non-salary income, assess credit-card debt at the credit limit, compare your stated expenses against the Household Expenditure Measure, and add 30-year P&I assumptions to interest-only loans. The figures here are not a loan offer. Section 04 Interest rates ## How did interest rates affect loan sizes between 2022 and 2026? The average owner-occupier loan size rose **21.9 per cent** between March 2022 and March 2026, from $603,000 to $735,000. Over the same period, the number of new owner-occupier loan commitments fell 17.8 per cent. This means the average loan became larger, even though fewer owner-occupier loans were being taken out. The shift happened during a changing interest rate cycle. The cash rate was **0.10 per cent** in April 2022, rose to **4.35 per cent** by November 2023, eased to **3.60 per cent** by August 2025, and then returned to **4.35 per cent on 6 May 2026**. By May 2026, the 2025 rate cuts had been reversed. Australia's cash rate target, 2006 to May 2026 December monthly averages for 2006 to 2025; monthly averages for January to May 2026 The chart uses December monthly averages for each year from 2006 to 2025. The 2026 figure covers January to May only, because full-year data is not yet available. Year-end figures do not show rate changes that happened within each year. **Source:** RBA cash rate target history and Statistical Table F1.1. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Loan numbers fell between March 2022 and March 2026, but average loan sizes increased. Total new dwelling commitments fell from 153,305 to **139,794**, a decrease of 8.8 per cent. Within that total, owner-occupier commitments dropped from 100,255 to **82,453**, down 17.8 per cent. Investor commitments moved in the opposite direction, rising from 53,050 to **57,342**, up 8.1 per cent. The fall in loan numbers was matched by a rise in average loan sizes. The national average owner-occupier loan size grew from $603,000 to **$735,000** over the four years, up 21.9 per cent. The average investor loan size rose from $607,000 to **$709,000**, up 16.8 per cent. Total lending value reached **$103.0 billion** in the March quarter of 2026, up 18.5 per cent year-on-year, even though the number of new loans was 6.2 per cent lower than a year earlier. New dwelling loan commitments in Australia, March 2022 vs March 2026 Owner-occupier and investor loan commitments March 2022 March 2026 Commitment numbers are seasonally adjusted. Average loan sizes are shown in original terms, so the two measures should be read as separate indicators rather than directly compared. **Source:** ABS Lending Indicators, March quarter 2026. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Australian dwelling loan activity, March 2022 to March 2026 New loan commitments and average loan sizes Metric March 2022 March 2026 Change Total new dwelling commitments (no.) 153,305 139,794 –8.8% Owner-occupier commitments (no.) 100,255 82,453 –17.8% Investor commitments (no.) 53,050 57,342 +8.1% Average owner-occupier loan size $603,000 **$735,000** **+21.9%** Average investor loan size $607,000 $709,000 +16.8% **Source:** ABS Lending Indicators. Percentage changes are calculated from official ABS figures. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Banks passed on the 2025 cash rate cuts to new variable-rate mortgage rates, then passed on the 2026 increases in the same way. The gap between rates for new borrowers and existing variable-rate borrowers also narrowed. In 2019, new borrowers were paying about **0.35 percentage points** less than existing borrowers. By December 2025, that gap had narrowed to about **0.03 percentage points**. This means the discount once available to new borrowers had largely closed by the mid-2020s. Cash rate monthly averages in 2026, January to May Jan 2026 3.60% Feb 2026 3.83% Mar 2026 3.96% Apr 2026 4.10% May 2026 4.31% Buffer +3.0 pp APRA setting All of the 2025 rate reductions were reversed within five months. The cash rate monthly average rose from 3.60 per cent in January 2026 to 4.31 per cent in May 2026, while the target returned to 4.35 per cent on 6 May. Because banks passed on the 2025 cuts and the 2026 increases to new variable-rate mortgage rates, the modelled serviceability test rate also moved back up over this period. Section 05 DTI & LVR limits ## What are DTI and LVR limits for home loans? Debt-to-income ratio (DTI) and loan-to-value ratio (LVR) are two measures lenders use when assessing home loan applications. DTI compares a borrower's total debt with their income. LVR compares the loan amount with the property value. In the December quarter of 2025, **11.3 per cent** of new investor loans had a debt-to-income ratio of six or more. This compared with **4.0 per cent** of new owner-occupier loans. This means high-DTI lending was almost three times higher among investor loans than owner-occupier loans. APRA cited this difference as one reason for introducing formal DTI limits from 1 February 2026. Under the rules, no more than **20 per cent** of new investment loans and no more than 20 per cent of new owner-occupied loans can have a DTI of six or more. The limit is measured separately for each loan type. Across the full mortgage market, high-DTI lending was still below 10 per cent of total new lending as at December 2025. Share of new Australian home loans with high debt-to-income ratios New loans with a debt-to-income ratio of 6 or more, compared with the 20% cap The DTI cap limits the share of new high-DTI loans within each portfolio type, not across combined lending. **Source:** APRA quarterly ADI property exposure statistics, December quarter 2025. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) High-DTI lending was rising before the cap was introduced. Across all new borrowers, the share of loans with a debt-to-income ratio of 6 or more fell to **5.0 per cent** in the June quarter of 2024, then rose to 6.8 per cent by December 2025. For investors, the share reached about **10 per cent** in the September quarter of 2025. This was still below the 20 per cent cap, but the upward trend helped explain APRA's decision to introduce the limit. Several loan types are excluded from the DTI cap. These include loans for the **construction of new dwellings**, loans used to buy **newly built dwellings**, and certain owner-occupier bridging loans. Loan-to-value ratio (LVR) is measured differently. In the December quarter of 2025, **32.2 per cent** of new loans had an LVR of 80 per cent or more, up from 31.0 per cent a year earlier. At the same time, the share of outstanding mortgage credit with an LVR of 80 per cent or more fell from 17.4 per cent to **16.9 per cent**. There is no equivalent cap on high-LVR lending. Unlike the DTI rules, APRA does not limit the share of new lending that can have a high LVR. However, higher-LVR loans can attract larger capital requirements for lenders. Outstanding mortgage credit with LVR ≥ 80% Share of all outstanding residential mortgage credit, Dec 2024 vs Dec 2025 17.4% Dec 2024 → 16.9% Dec 2025 Share of all outstanding residential mortgage credit with LVR at or above 80%, at December each year. **Source:** APRA quarterly ADI property exposure statistics, Dec Q 2025. New loans funded with LVR ≥ 80% Share of new loans funded, Dec 2024 vs Dec 2025 31.0% Dec 2024 → 32.2% Dec 2025 Includes First Home Guarantee scheme loans, where lenders record the actual LVR before the guarantee is applied. **Source:** APRA quarterly ADI property exposure statistics, Dec Q 2025. The two figures move in opposite directions because they measure two different parts of the mortgage market. Outstanding mortgage credit looks at existing home loans. Over time, many borrowers pay down part of their loan. This can reduce the share of existing loans with a high loan-to-value ratio (LVR). New loans funded look at loans taken out during the quarter. In the December quarter of 2025, a higher share of new loans had an LVR of 80 per cent or more. This may reflect higher property prices, smaller deposits, or the use of the First Home Guarantee scheme. The First Home Guarantee scheme is counted in these figures because lenders record the loan's actual LVR before the government guarantee is applied. This means these loans can still appear as high-LVR loans, even though the guarantee reduces the lender's risk. Non-bank lenders are assessed differently from banks. They are not covered by APRA's serviceability buffer, DTI cap or LVR capital rules. They hold **less than 5 per cent** of residential mortgage credit in Australia, so they make up a small part of the market. Section 06 First home buyers ## How much are first-home buyers borrowing in Australia? The average first-home buyer loan reached **$614,048** in the March quarter of 2026, up about 13 per cent over the year. This was higher than the 11.4 per cent increase recorded across the broader owner-occupier market over the same period. First-home buyer loan commitments fell 4.3 per cent over the quarter, down 1,349 from the December quarter. However, they were still 5.0 per cent higher than the same period a year earlier. Total first-home buyer lending reached **$17.9 billion** in the March quarter of 2026. Average first-home buyer loan $614,048 March quarter 2026 Annual increase in loan size ~13% Year on year Total first-home buyer lending $17.9 bn March quarter 2026 First-home buyers using the First Home Guarantee scheme may contribute to the share of new high-LVR lending recorded in APRA statistics. This is because lenders record the actual loan-to-value ratio before the government guarantee is applied. Across the mortgage market as a whole, **1.1 per cent** of owner-occupier loans and **0.9 per cent** of investor loans were non-performing as at December 2025. These figures apply to the full mortgage market, not specifically to first-home buyers. No official source breaks down average borrowing capacity by income level, deposit size or location. The figures above show what first-home buyers are borrowing, not the maximum amount they could qualify for. Section 07 State & territory data ## Which states have the highest average home loan sizes? New South Wales recorded the highest average owner-occupier loan size in the March quarter of 2026 at **$860,000**. Tasmania recorded the lowest at $521,000. This created a gap of $339,000 between the highest and lowest state averages. Queensland's average owner-occupier loan size reached $711,000, above Victoria's average of $675,000. This was the first time Queensland exceeded Victoria in the available data series. Western Australia recorded the largest annual increase of any state. The average owner-occupier loan size rose by **$109,000** between March 2025 and March 2026, reaching $654,000. In New South Wales, the average owner-occupier loan size was $860,000, compared with $857,000 for investor loans. This was a gap of just **$3,000**. In every other state, the average investor loan size remained below the average owner-occupier loan size. Average home loan sizes by state and territory, March quarter 2026 Owner-occupier and investor loan averages, original terms Owner-occupier Investor State and territory averages are shown in original, non-seasonally adjusted terms. The national average owner-occupier loan size published by the ABS uses seasonally adjusted figures, so it is calculated differently. The Northern Territory is excluded because the dataset does not include an average owner-occupier loan size for the territory in this quarter. **Source:** ABS Lending Indicators, March quarter 2026. ![CheckRate](/__l5e/assets-v1/7bc4597d-01a6-41ce-b2ee-e3271c8e8b60/checkrate-logo.png) Is there an official borrowing-power figure in Australia? + Why does APRA add a 3 percentage point buffer to the loan rate? + What is the DTI cap that began on 1 February 2026? + How is credit card debt assessed for serviceability? + About the data This article uses official Australian data from APRA, the RBA and the ABS. The latest figures used include the cash rate effective 6 May 2026, RBA housing lending rates for April 2026, ABS Lending Indicators for the March quarter of 2026, and APRA property exposure statistics for the December quarter of 2025. Official sources do not publish average borrowing capacity by salary, deposit size, household type or location. The figures in this article show lending rules, rates and borrowing trends, not the maximum amount an individual borrower could access. General information only This article provides general information based on official Australian data. It does not assess individual borrowing capacity, recommend a lender or compare home loan products. Individual borrowing capacity depends on personal circumstances, including income, expenses, existing debts, credit history, deposit size, property value and lender policy. ## References 1. 1 [APRA maintains current macroprudential policy settings](https://www.apra.gov.au/news-and-publications/apra-maintains-current-macroprudential-policy-settings-highly-uncertain) — serviceability buffer confirmed at 3.0 percentage points, May 2026. 2. 2 [Senate Select Committee on Productivity: housing lending submission](https://www.apra.gov.au/sites/default/files/2026-05/Submission%20-%20Senate%20Select%20Committee%20on%20Productivity%20-%20Housing%20lending%20-%20Redacted.pdf) — APRA framework overview, borrower assessment criteria, ADI portfolio data, May 2026. 3. 3 [Activation of debt-to-income limits as a macroprudential policy tool](https://www.apra.gov.au/activation-of-debt-to-income-limits-as-a-macroprudential-policy-tool) — DTI cap settings effective 1 February 2026. 4. 4 [DTI limit implementation details](https://www.apra.gov.au/sites/default/files/2025-11/Implementation%20Details%20-%20DTI%20limit.pdf) — portfolio definitions, exemptions and reporting requirements, November 2025. 5. 5 [Clarifying treatment of HELP debt obligations](https://www.apra.gov.au/clarifying-treatment-of-help-debt-obligations-response-to-consultation) — APRA response to consultation on serviceability and DTI treatment, 2025. 6. 6 [Quarterly ADI property exposure statistics, December quarter 2025](https://www.apra.gov.au/news-and-publications/apra-releases-quarterly-authorised-deposit-taking-institution-statistics-26) — LVR and DTI lending shares, non-performing loan rates. 7. 7 [Reporting Standard ARS 223.0 — Residential Mortgage Lending](https://www.apra.gov.au/sites/default/files/2025-06/Reporting%20Standard%20ARS%20223.0%20Residential%20Mortgage%20Lending%20-%20Clean.pdf) — DTI definitions and HELP debt exclusion, June 2025. 8. 8 [Prudential Practice Guide APG 223 — Residential Mortgage Lending](https://www.apra.gov.au/sites/default/files/2022-06/Final%20Prudential%20Practice%20Guide%20APG%20223%20Residential%20Mortgage%20Lending.pdf) — income discounts, expense benchmarks, credit card assumptions, June 2022. 9. 9 [Update on APRA's macroprudential policy settings](https://www.apra.gov.au/update-on-apras-macroprudential-policy-settings-february-2023) — history of serviceability buffer increase from 2.5 to 3.0 pp, February 2023. 10. 10 [Cash rate target history and Statistical Table F1.1](https://www.rba.gov.au/statistics/cash-rate/) — monthly cash rate averages from 2006 to May 2026. 11. 11 [Housing lending rates, Table F6](https://www.rba.gov.au/statistics/interest-rates/) — average rates on new and outstanding owner-occupier and investor loans, April 2026. 12. 12 [RBA Bulletin, May 2026](https://www.rba.gov.au/publications/bulletin/2026/may/pdf/bulletin-2026-05.pdf) — lending-rate pass-through and mortgage-rate movements. 13. 13 [RBA Bulletin, February 2026](https://www.rba.gov.au/publications/bulletin/2026/feb/pdf/bulletin-2026-02.pdf) — new versus existing borrower mortgage-rate spreads. 14. 14 [Lending Indicators, Australia — March quarter 2026](https://www.abs.gov.au/statistics/economy/finance/lending-indicators/latest-release) — loan commitment volumes and average loan sizes by state and borrower type. 15. 15 [New home loans fall, March quarter 2026](https://www.abs.gov.au/media-centre/media-releases/new-home-loans-fall-march-quarter) — first-home buyer volumes, average loan size and total value. 16. 16 [Wage Price Index, Australia — March quarter 2026](https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/wage-price-index-australia/latest-release) — annual and quarterly wage growth by sector. 17. 17 [Consumer Price Index, Australia — April 2026](https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release) — headline CPI and CPI groups including housing and transport. ## 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