Borrowing power, estimated
Know the ceiling before you shop.
Two numbers, from figures already in the app: what you could pull out, and what you could buy. A guide, not a pre-approval.
How it works
- Equity you could extract — Built from the usable equity across your properties.
- A purchase ceiling — Deposit, purchase costs and servicing accounted for, using typical lender criteria.
- Built on what you already track — Income comes from your budget and is grossed up the way a lender reads it. Rent comes from the property tab.
- Yours to correct — Bonuses, commission, business or trust income — every input is editable, because the app only knows what you have told it.
- Honest about what it is not — No lender has seen this. It is a guide to the size of the number, not a quote and not a pre-approval.
Common questions
Is this a pre-approval?
No. It is an estimate calculated from the income, expenses and property figures you have entered, using typical lender criteria. No lender has assessed it, and a real application can land anywhere either side of it.
How is the estimate worked out?
It follows the general approach lenders use: your before-tax income and counted rent against your living costs and existing commitments, with a servicing buffer, then converts that into an equity release and a purchase price with deposit and costs allowed for.
Does Compound arrange loans?
No. Compound is a tracking tool and does not hold an Australian Financial Services Licence or a credit licence. What you might do with the number is a conversation for a licensed broker or lender.
Related
Reviewed on ProductReview.com.au
★★★★★ 5.0 out of 5 · 3 reviews
What a fantastic and innovative app this is. It has helped me combine all my finances in one place rather than having to check 5-10 individual apps. Keep the new features coming Compound!
Could not recommend this app enough! It has allowed me to sit down and really look at my finances. I now have a clear goal and know exactly what to do to get there. Well done to the team at Compound for creating such an innovative product.
Such a great app - combines all my assets in one place and models when I can stop work. It is so accurate, customer service is great, app is slick and works well. Data secure and never had an issue. Highly recommend
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