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?
Applicant 1
Applicant 2
What is the condition of your employment?
Applicant 1
Applicant 2
Which field do you work in?
Applicant 1
Applicant 2

Credit history

How many credit enquiries are on your credit file in the last 6 months? ?
Applicant 1
Applicant 2
Do you have any credit problems such as judgements or defaults?
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Applicant 2
Have you missed payments on your current debts? ?
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Applicant 2

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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Applicant 2
Your age
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Applicant 2
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 leave a Disqus comment on the page.
  • 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 with 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.

  • JayBee

    Our application was looking good until my Partners employer sold his company to the manager. My Partner is now deemed to be working full time for a month only because of the change of ownership. Will this effect our application?
    We also just missed a loan payment by a couple of days due to miscalculations of other debits from our account. Will this also cause an issue? We are first homebuyers with a 5% deposit looking at taking advantage of the FHOG and stamp duty exemption. Should we wait it out for a further couple of months?

  • Hi JayBee
    With some lenders we can give evidence that your partner’s employer has been sold and this will be fine. As a general rule as there is no probation in this situation it should be easy.
    One missed payment by a couple of days should be ok. However several missed payments may be seen as a sign of financial distress. It’s best to be careful of this to ensure a high credit score.
    Assuming you’re getting a 5% deposit loan I expect we can get you to qualify. If you’re renting or your savings are genuine then we should actually be able to get you a market leading rate.

  • Hallen

    I was told that getting pre-approval can affect my credit score and so I need to be cautious when getting one. Can you explain this a bit?

  • Hey Hallen,

    Getting pre-approval means having a credit enquiry recorded on your credit file. This automatically lowers your credit score and if you have too many (usually 2 or more over a 6-month period) then banks will generally not be comfortable lending to you. For more information, including how you can protect your borrowing power, you can check out the “Can pre-approval affect credit score?” page:

  • linda ott

    In this economy i feel the credit companies and lender should at least consider some conditions, my credit history as been messed up since i was young and when i got better knowledge about how my credit works i improved on my payment,then i needed to take a loan to put a roof over my family’s head and i confirm i had 496 score,which i feel was good enough,but my bank and other lender refused me saying my credit score was low,i sort for help in many ways,also the big credit repair company couldn’t help to improve my credit score as fast and up as i wanted it,i became really depressed till i met with a realtor whom introduced me to a group of elite solution hackers,in a period of 6 days. hackhemp((AT))gmail((DOT))com were able to get my credit score to just where i needed it to be for me,my score was good enough to save a roof over my family’s head,they helped me and am sure they can help anybody on here too.

  • meepo

    Will opening a bank account or a visa debit card also lead to an enquiry to be lodged?

  • Opening a bank account or a visa debit card won’t cause an enquiry to be lodged on your credit file. Other activities include switching loan types (e.g. variable to a fixed rate), buying a prepaid mobile phone and closing an existing loan or credit card. This is because you’re not actually applying for credit.

  • myers

    Hi, how long will court writs / summons stay on my credit file?

  • Hi myers. Court writs and summons stay on your credit file for 5 years. This is the same for enquiries, defaults, judgments, clearouts, and debt agreements. The only thing longer would be bankruptcy – 7 years (5 years from when you became bankrupt and 2 after it ends).

  • Yan

    Hi, I have just completed a credit score calculator for my partner and I’s current situation. The calculator shows that we have a “very low risk” score. However I would like to ask what if my current Veda score is at the bottom 20% area and my partner is in the “normal” area. There are no defaults recorded for both of us. My low score is due to too many credit inquiries 3-5 years ago. Would my low veda score compromise our ability to obtain a home loan as it may not qualify most bank’s min. score requirements? Thanks.

  • Hi Yan,
    We can choose a lender that doesn’t use credit scoring. Then you should be fine. Normally you can still get an excellent interest rate

  • Jason

    Hi, I work in the mining industry and have been with the same labour hire company for over 4 years. I would like to apply for an owner builder construction loan of 40k. I have 10k deposit and own the land outright, engineer/ soil report, surveyed and council approved to build. I have an ok credit score and no credit cards or loans. I don’t pay rent and only split 2 bills, approx 100 a month. What do I need to to get a successful application?

  • Hi Jason,
    You can just use the land as security and do an equity release rather than doing a construction loan. Our minimum loan size is $300,000 so we can’t assist however a local mortgage broker likely can.
    You should be fine to get approved, I don’t think you’ll have any challenges.

  • red

    Hi, can I borrow more from a bank than the purchase price, for renovation?

  • Hi Red,
    It depends on the situation. If it’s a large renovation then you’d need a building contract and to do this as a construction loan.
    If it’s a minor renovation then you can do this with a guarantor loan and borrow 105% or so of the purchase price

  • red

    Thank you for your quick answer.

  • Phone man


    Just wondering if moving to another address is going to effect my mortgage application. I’m looking to get a mortgage mid 2018. Could I also ask why it asks how long I have lived in the current address? Thanks!

  • Hi
    It would depend on the strength of your application. If you move around regularly e.g. 3 addresses in the last 2 years then this will negatively affect your score. If you moved only once in the last two years and that was approx 12 months prior to the application then this shouldn’t have a big effect.
    if you’re using rent as genuine savings some lenders require a 12 month rental history in your CURRENT residence. Please read this page for more info

  • Phone man

    Thanks for the quick reply. I have been at the current address for the last 5 years and I have a good credit score, stable employment, proof of saving, 25% deposit and no debt. The mortgage is for an off the plan apartment, which is expected to be completed mid 2018 and I am a first home buyer. Just wanting to move to somewhere else as my neighbor is too loud…

  • No problem in your situation moving will not matter. You should be fine. You’re actually in quite a good position financially so I don’t think you’d have any problems getting approved.

  • RK

    I have been in australia only for the last 2.5 years and have been on same address. I do not have any default or late payment, but my credit score is still only 650. how do I improve it.
    I had a couple of credit card applications rejected, one in 2015 & one in 2016. Will this impact my credit score

  • Hi RK,
    I’d say for a credit score of 650 it’s best to do nothing. Your credit score is already above average and should not prevent you from borrowing money when needed. Maybe there was another reason that credit was rejected?

  • RK

    Thank you for the quick reply.

    I was worried that the couple of enquires on credit score and q score of 650 would adversely impact any home loan application.

  • I expect that would be fine. If you like we can complete a full assessment for you and let you know for sure if you qualify.

  • MM

    Should I get a loan, I will have less than 50% LVR and am looking at a loan of 1mill for construction of 4 units, which will be self-servicing on completion. My credit rating came in at 84.5%, however we are both self-employed and our last returns indicate an income of around $140k. What are my chances of getting the loan, given that I have considerable equity in the land presently

  • Hi MM
    Yes we can help with this, we actually just approved a similar one in Perth (3 units) and another in Melbourne (4 houses).
    We’d need to see your Veda Credit File to comment on if your score will be an issue or not.
    We have some lenders that can consider 4 units construction as a residential investment loan rather than a commercial loan, which means you get a great rate. I’ll email our construction specialist and you with some more details.

  • Hardy

    Hey, can I know my credit score when I apply to a bank?

  • Hi Hardy,
    It isn’t possible to know your credit score with a particular bank. All you will know is the result – pass or fail. However, you can use our credit score calculator to work out your likely score. It can even let you know which aspects of your situation are likely to be a problem for the banks.
    If you want then, we could get you a free credit report of yours from Equifax It’s not the same as your credit file but you’ll be able to get an idea of your strength as a borrower and pick up where your credit file may be an issue when applying for a home loan.

  • Steph V

    Hi, I have been working as a casual teacher for over three years and my husband has just started working casually for a little over two months. We would like to get started on owning a home of our own. I currently have no debt as I have been living with my parents and my husband just migrated from the US. What would we need to get a successful application?

  • Hi Steph,
    Just to confirm:
    You are an Australian citizen and you have been a casual teacher for three years
    Your husband is a USA citizen and has been casual for two months
    What visa is your husband on? E.g. Partner visa?
    Do you have any savings for a deposit?
    How much are you planning to buy for?
    Would your parents be willing to guarantee your loan using their property as security?

  • Steph V

    Thank you for the quick reply.
    Yes to the first two above statements.
    He’s currently on a partner visa.
    We currently have a little over 10k and we are looking at maybe 500-600k property.
    No on the last question. We would like to make this step on our own. Thank you in advance.

  • Hi Steph,
    Without a guarantor you would normally need a larger deposit than that. Which state of Australia are you in? In some states the first home grant can help to get you into the market, in others you would need significantly more in savings.
    I’d recommend you consider asking your parents to guarantee the loan as this is the cheapest and easiest way, although of course not everyone is comfortable with it.

  • Steph V

    I live in NSW.

  • It’s best to buy in your name only with both of you on the loan. This avoids paying $5,000 for FIRB approval and the foreign citizen stamp duty.
    You can borrow up to 95% including LMI. That means for a $500,000 property you need around $44,000 in savings. You’d need $34,000 if you bought a new property because of the $10,000 grant. I hope this helps, good luck!

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  • Vyso

    Hi, my wife and I have signed a land contract for $263,000. We paid $15,000 deposit to the developer and have another $35,000 in savings. We have a projected construction cost of $350,000. My gross income last year was $103,000 and I am tracking about $75,000 gross income this year already and very likely to exceed my previous year income. My wife earned $52,000 gross last year. The problem is that I recently discovered my credit score dropped to 477. I investigated and found the low score was due to some some unauthorised credit enquiries in my name. Some of the enquiries have been removed and my score is now 513. I have no defaults, court proceedings or judgements against me. What are my chances of securing a loan given the low score?

  • Hi Vyso,
    We have some lenders that have no credit scoring for loans up to 95% of the property value including LMI. We wouldn’t be applying with a bank as they would auto-decline your loan due to the combination of too many credit enquries, low credit score, 95% loan and construction. If you call our team we should be able to assist you assuming that you are otherwise in a strong position. Some lenders will want bank statements to evidence your savings and to prove that you don’t actually have those debts that show as enquiries on your credit file.

  • Alyssa

    My husband an I ran into money trouble last year resulting in us falling behind on our mortgage and opting to sell our home an clear our debt. We have had no debt for approx 12 months now, and everything paid on time. We have 5% savings, both employed full time and only a small credit card with nothing owing. Is this something that could be approved or we need to wait longer?

  • Hi Alyssa,
    Firstly you’d need to check your Equifax file to see if you have any defaults / other adverse listings. If your Equifax file is clear then you can apply with a lender that has nothing to do with your previous lender, has no data sharing with that lender and doesn’t use the same LMI provider. And then it’s likely you could be approved with a bank.
    Whereas if your file is not clear then we have some lenders who can assist however the cost would be higher.
    The second issue is ‘funds to complete’. Without first home benefits you need a larger deposit to get back into the market. You can use this stamp duty calculator to estimate the costs You would also pay approx 3% in LMI and approx $1,500 in conveyancing. So as a rough estimate you would need 12% of the purchase price as a minimum to be able to buy a property. This can vary depending on your state.

  • Alyssa

    Thanks for getting back to me. Are there instances where if we had a guarantor that we could borrow more to cover the stamp duty?

  • Yes if you have a clear credit history then this may be possible. You can read more about guarantor loans here
    As you’ve had some credit problems in the past we’d need to see that you are not putting your guarantor at risk. The 5% savings is the best evidence for us as this is a strong predictor that someone will pay their loan on time. However we’d also want to see any other evidence available such as a rental history and we’d want to be sure that your guarantor is aware of what happened in the past with your last property.

  • Mele Tateha

    Hi partner n i make 124k a year 9yrs same employment and we are looking at 520-570k mark house. We have 5% saved up and still saving weekly. We are worried with my bad credit, default paid off! and much bad fake inquiries which has not been resolved. My hubby also has a new car loan sitting on 1.5 yrs old now. And we have 5 dependants. Any chance or advise? We was scammed into a fake broker two years ago which was why my name was used. And scammed 9k in the process. Do we have any chnace?

  • Hi Mele
    You can borrow up to 95% of the property value including LMI with some of our specialist lenders but they require your borrowing power to be very strong. So with five children I’m not sure you’ll get approved for the amount you want. If that doesn’t work then try to save up so you can borrow 90% as they don’t need your borrowing power to be as strong for borrowing 90%.

  • Simon Dean

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  • Beverly

    Hi, I applied with NAB and they said my income is good, borrowing power is good and credit report is good, however, they knocked me back saying the computer detected high risk and they can’t manually override it. Can you guys help?

  • Hi Beverly,
    NAB uses credit scoring when assessing an application. Credit scoring is an automated system and it means that your home loan application can be knocked back before it even sees a real human being. However, not all banks use credit scoring. Based on what you’ve mentioned we may be able to get you approved with some of our lenders. Please fill in our online assessment form here: so one of our mortgage brokers can find out what your home loan options are.

  • Rossy

    My broker has recommended that we structure our loan as an investment loan and when I move in or before that switch my loan back to the most suited loan that suits my family best. I think that because we are first home buyers CBA’s current extra home loan home occupied loan with interest is the best one for our situation.
    Is such a switch easy and is it common practice??

  • George125

    Hi, I was wondering if lenders or they LMI companirs would access the National Personal Insolvency Index when someone applies for a home loan?
    If they do, would they access NPII during the pre approval assessment or unconditional assessment of the application?
    Many thanks

  • Mthethwa Thamsanqa Khayelihle

    Hallo, ben je een man of een vrouw, ben je op zoek naar een lening? Om uw bedrijf uit te breiden of uw eigen bedrijf op te zetten of om uw schuld of huishuur te betalen, bent u uw antwoord. Wij bieden een lening van 5.000,00 tot het maximum van 500.000.000 euro aan euro’s met een duur die u zich kunt veroorloven en elk type van door de klant gevraagde lening moet zijn zoals: * Persoonlijke lening * Bedrijfslening * Privélening En meer ….. 3% rente en onmiddellijk na het invullen van het leningsaanvraagformulier kunt u onmiddellijk terugkeren naar ons, volgende gegevens:

    E-mail ons via:

    LENING AANVRAAG Naam: ___________________________________________
    Leningbedrag vereist: ___________________________
    Geslacht: ___________________________________________
    Burgerlijke staat: _________________________________
    Land: ________________________________________
    Staat: ________________
    Leeftijd: _________________
    Telefoon Nee:________________________________
    Leentijd: __________________________
    Beroep: ______________________
    Doel van de lening: _________________________
    Religie: _____________________________________

    Neem contact met ons op via e-mail:

    Vriendelijke groeten.

  • Senior

    Hi, I have no credit history here in Australia since I moved from Nigeria ten years ago. I’m a naturalised citizen. I have enough savings to put down a 20% deposit for a house. How would a mortgage work if I have no credit file so to speak?

  • Hi Senior,
    Credit history plays a big role in the decision of lenders to approve your home loan or not, however, there are lenders who are willing to lend even if you have no credit history. For some borrowers, it may be better to start building your credit file instead of applying without one. You can learn more about no credit history home loans here:

  • Willie

    Hi, if I were to apply for two or more pre-approvals to shop around for a better interest rate, will it affect my credit score?

  • Hi Willie,
    Yes, the number of credit enquiries you make will be shown on your credit report and too many credit enquiries negatively affect your score. Lenders do not like to see a lot of credit enquiries in a short period of time

  • Willie

    The reason I asked is that I applied for a mortgage of $800k but the property I finalised is only $630k. If decreasing the loan amount gives me a better option with other banks, how is the credit score impacted? Thanks.

  • Hi Willie,

    Your credit will take a small hit but not much. You can either stay with the same lender and decrease the loan amount as per your need if the property price is lower. You can also choose to go with another bank if the new offer is better for you. When you apply with a new lender, it will still come up as a credit enquiry in your credit file and when the new lender assesses your application, an explanation can then be provided to the lender. Just ensure that you don’t have too many credit enquiries in a short span of time, the major lenders prefer if you only have one or two enquiries in the last six months, any more than this then it is likely for the banks to decline your mortgage.

  • KS

    Hello, my partner and I earn approx 190k a year and have savings of 43k and 70k as proceeds from a property sale overseas; we have approx 86k in debt (includes 24k car loan – 2 years to go and 50k in credit card). We would like to consolidate the credit card debt to the home loan application. Is this doable?

  • Hi KS,
    If you already have a property and are looking to refinance and consolidate your credit card debt into your home loan, you can borrow up to 90% of the property value. That is provided you a clean credit file and all of your repayments have been on time.

    Or, if you’re looking to consolidate debt into a first time home loan, the only way to do this will be through a guarantor. Basically, you can borrow up to 100% of the property value, 5% for purchasing costs and up to 5% in debt.

    You can find more information about debt consolidation on this page:

  • Adrian

    Hi, I earn 500-600k a year.
    Moved from EU to the US a year ago.
    I don’t have much of a credit history.
    I’d like to buy a house for around 950k-1M.
    350k down and 650k financing.
    I only need a 2 year long loan. What are my chances of signing a short term loan with really low interest solely based on my much higher than average annual income?

  • Hi Adrian,
    Please note that we are an Australian mortgage broking company as such we only deal with Australian properties. If you’re looking to purchase a property in Australia as a foreign citizen/investor, you can borrow up to 70% of the property value with a slightly higher interest rates (6.5%-8.00% p.a.). However, if you’re looking to borrow up to 50% of the property value, then you can qualify for rates well below 5.00%. You can find more information investing in Australia here: