1. What is BOQ Max Income Assessment?

The BOQ Max Income Assessment is Bank of Queensland's proprietary method for calculating borrowing capacity based on an applicant's income and other financial factors, following BOQ-specific lending policies.

2. How Does the Calculator Work?

The calculator uses BOQ's specific lending criteria and formulas to determine maximum borrowing capacity based on your income and other financial factors.

3. Importance of BOQ-specific Borrowing Assessment

Details: Accurate borrowing capacity assessment is crucial for home loan applications, ensuring you borrow within your means and meet BOQ's specific lending criteria.

4. Using the Calculator

Tips: Enter your income in AUD. Additional financial information may be required for a complete assessment. All values must be valid and accurate.

5. Frequently Asked Questions (FAQ)

Q1: What factors affect my borrowing capacity with BOQ?
A: BOQ considers income, expenses, existing debts, credit history, and living expenses when assessing borrowing capacity.

Q2: How often does BOQ update their lending criteria?
A: Lending criteria may change periodically based on market conditions and regulatory requirements.

Q3: Is this calculator specific to BOQ products?
A: Yes, this calculator uses BOQ-specific formulas and may differ from other lenders' assessments.

Q4: Should I consult with a BOQ lending specialist?
A: For accurate personalized advice, we recommend consulting with a BOQ lending specialist.

Q5: What documentation will I need for a formal assessment?
A: Typically payslips, tax returns, bank statements, and identification documents are required.