One of our lenders will accept up to a maximum of 100% boarding income per room in your house.
So if one of your children is living at home and has been paying $150 dollars a week in rent over the past year, the lender can accept up to $5,200 of extra income when assessing your serviceability.
With three children living at home and paying rent over the same time period, they’ll accept up to $15,600 and add this to your income.
If your net yearly income is $70,000, the lender will assess your application as if your assessable income is $85,600.