Borrowing power refers to the amount of money a lender is willing to lend you for various purposes, it can be anything from buying an investment property, a home, a new car, a business or something as basic as a new sofa. It touches on just about all our financial lending needs.
The borrowing power is determined based on several factors and the exact process will vary depending on the type of loan you’re seeking and that lender’s specific requirements.
As part of you being a clever investor, decisions around subjects like this are part of your plan that will need to be reviewed over the years. You might also want to consider seeking some professional financial advice to better understand your specific situation and options for maximizing your borrowing power.
This podcast edition walks you through 8 of the top tips and general steps to improve your borrowing power and make you look much more appealing to lenders…*and I must admit the better lover bit was to get your attention, but you never know.
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