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Credit Score Calculator

Credit Score Calculator


What will you be using the loan for?
What is the intended use for the property?
Loan amount ?
Property value ?
Is this a guarantor loan? ?
Number of applicants?


How long have you been in your current job?
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Applicant 2
What is the condition of your employment?
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Which field do you work in?
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Applicant 2

Credit history

How many credit enquiries are on your credit file in the last 6 months? ?
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Do you have any credit problems such as judgements or defaults?
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Have you missed payments on your current debts? ?
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Asset position / stability

Do you have any genuine savings or shares (gifts are not included)? ?
How long have you lived at your current address?
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Your age
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Total assets?
Total liabilities?

Contact a mortgage broker

Talk to one of our mortgage brokers about your situation: Yes  No 

The credit score calculator uses a similar method to that used by the banks and Lenders Mortgage Insurers to assess loans.

Whilst all lenders view risk differently, you’ll find that this calculator is an excellent guide that can help you understand why a bank may decline your loan.


If there’s more than one person applying for a home loan and you both have different answers to one of the questions then please enter the “worst” option.

Note: In regards to the ‘recent credit enquiries’ question, this includes all finance types including mobile phones, electricity accounts, credit cards, store cards, interest free consumer finance (GE / Harvey Norman etc), home loans and personal loans.

What to do if your credit score is low?

Here’s what to do if your credit score is low:

  • After using the calculator, you can fill in your details and they’ll then be sent to one of our mortgage brokers for assessment.
  • If you don’t plan to take out a home loan at the moment then please ask a question on our home loan forum.
  • If you outline your situation in the question then we’ll be able to give you a more personalised answer.

What is an 'enquiry'?

An enquiry is a record on your credit file which details any loans or credit that you have applied for. It includes the amount, which financier that you applied with and the date of the application. Each enquiry listing doesn’t mention if the loan was approved or not, or if you proceeded with the application.

It’s quite common for people to get multiple credit enquiries from simply calling several banks and asking them what their borrowing capacity is.

The branch staff often don’t know or care about the effect of enquiries on your credit score, so they simply lodge an application so that they can work out your borrowing capacity. The end result is that most other banks will not lend to you because you have a busy credit file.

Did you know that as few as one or two enquiries on your credit file in the last six months is enough to make you fail the credit score of several banks?

You should only apply with the lender that you actually intend to get a loan with! Don’t put in multiple applications in the hope of getting an approval, this will do more harm than good.

Too many enquiries?

We get a lot of phone calls from people who are in excellent financial positions with a good income, and still get declined by their bank!

A major cause of these declines is that the customer has had multiple enquiries on their credit file, which caused them to fail their bank’s credit score.

What if you have multiple enquiries?

The good news is that if you do have multiple enquiries on your credit file, there are still some lenders that can help.

On the flip side, you’ll have to provide a good explanation as well as cheque account statements, in order to prove which loans proceeded and which didn’t.

Does every lender credit score?

Although most of the major banks and lenders mortgage insurers use credit scoring to assess loan applications, there are still some lenders that use manual credit assessment. This doesn’t mean they can or will approve every loan, but they can use common sense to approve loans that should be approved.

In addition to this, each lender has their own credit scoring system, so each will have a slightly different result. Some lenders don’t consider a high number of credit enquiries to be a high risk, while others will decline your loan outright simply based on the length of time in your current job.

Speak to our mortgage brokers!

The secret to getting approved is to find a lender that either doesn’t credit score or that has a scoring system that can accept your situation. Our mortgage brokers are credit scoring specialists. Please complete our free assessment form or contact us on 1300 889 743 and we can help you to get approved for your mortgage!

  • John Kafka

    Just wanted to know how multiple credit enquiries affect my credit score and my loan application. Actually, I’ve applied separate personal loan with CBA and ANZ in the last couple of months, will that affect my score?

  • Hi John,
    Yes enquiries for personal loans tend to have a large impact on your credit score. Whereas enquiries for mortgages can sometimes increase your score and sometimes decrease them depending on the lender who does the credit check and if there are multiple lenders doing credit checks. Don’t worry there are some lenders that do not use credit scoring and they have competitive interest rates.