Estimate your borrowing power for a home loan with NAB’s borrowing calculator. Use this tool to find out how much you could borrow based on your income, expenses, and other financial details.
25 years
30 years
35 years
Estimated Borrowing Power: $0
function calculateBorrowingPower() {
const income = parseFloat(document.getElementById(‘income’).value);
const expenses = parseFloat(document.getElementById(‘monthly-expenses’).value);
const loanTerm = parseInt(document.getElementById(‘loan-term’).value);
const interestRate = parseFloat(document.getElementById(‘interest-rate’).value);
if (isNaN(income) || isNaN(expenses) || isNaN(interestRate)) {
alert(“Please fill out all fields correctly.”);
return;
}
// Simple formula to estimate borrowing power
const monthlyIncome = income / 12;
const monthlyInterestRate = (interestRate / 100) / 12;
const loanAmount = (monthlyIncome – expenses) * 12 * loanTerm / (monthlyInterestRate + 1);
document.getElementById(‘borrowed-amount’).textContent = “$” + loanAmount.toFixed(2);
document.getElementById(‘result’).style.display = ‘block’;
}
