How Renting a Room Can Boost Your Home Loan Capacity - With John and Nicola Kefalianos

How Renting a Room Can Boost Your Home Loan Capacity     Thinking about buying your first home but not sure how recent changes might affect you?   In this episode of their podcast, Nicola and John Kefalianos discuss exciting new policies from the Commonwealth Bank aimed at helping first home buyers enter the property market.   They explain how renting out a spare room can significantly increase borrowing capacity, allowing individuals to borrow an additional $50,000 by simply renting a room for $150 a week.   John elaborates on the benefits of HECS debt management and how to reduce the buffer rate from 3% to 1%, leading to a substantial increase in borrowing potential. They also touch on the recent government promise to reduce HECS debts by 20%, further aiding first home buyers.   Watch this episode for practical advice and the latest financial strategies to help you succeed in today’s property market.     Chat with John about how much you can borrow: [email protected]   Finance Lab: https://www.financelab.com.au/       Disclaimer: This podcast provides general information only and is not legal, financial, or professional advice. Listeners should seek personalised advice from licensed professionals for their individual circumstances. The hosts and guests are not liable for actions taken based on this content. Opinions expressed are those of the hosts and guests, not any official institution.See omnystudio.com/listener for privacy information.