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<calculator>
 <vos>
 <common>
 <Footer type="cdata"><![CDATA[Note: The home loan calculators are intended as a guide only based on the information you input. Calculations are based on interest rates for owner occupiers for some products, and results will vary if loan is for investment purposes. The results from this calculator should be used as an indication only. The calculations do not take into account any product features or fees and charges, e.g. application fees. Results do not represent either quotes or pre-qualification for a credit product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change. Calculator© InfoChoice 2013.]]></Footer>
 <BorrowingPowerAssumptionsText type="cdata"><![CDATA[ Calculator InformationThe Borrowing Power Calculator calculates the maximum amount of loan available based on the income and expenses entered. Default values provided assist in giving an estimate of the expenses and other factors which may determine the amount available for a loan.Calculations are based on interest rates for owner occupiers for some products, and results will vary if loan is for investment purposes. Calculator AssumptionsExpense Details and Default Values a) Maximum percentage of income available - percentage of income available for paying expenses and servicing proposed borrowing, default currently set at 100%. b) Minimum Credit Card Repayment - percentage used to calculate minimum repayment on credit card, default currently set at 30% Loan Details a) Interest rate increase allowance buffer - calculator has capability to assume a higher interest rate than rate entered by user when determining maximum amount that can be borrowed. This allows for affordability of possible rate increases under the loan. Current version of the calculator uses an interest rate buffer of 1.87%. b) Rounding rules for amount of loan - the calculator has the ability to round the maximum loan amount. The default is usually the current setting of the lower $1,000. Note that the amount of loan is calculated using the interest rate entered, plus any interest rate buffer, and then the resulting loan amount is rounded as required. c) Interest rate for loan repayment - monthly repayment is calculated in respect of the rounded loan amount and using interest rate entered, not including any interest rate buffer. Length of Month All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days interest dependent on the number of days in the particular month. Number of Weeks &amp; Fortnights in a Year One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366. Rounding of Amount of Each Repayment In practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts.]]></BorrowingPowerAssumptionsText>
 
 <AnnualExpensesSingle type="list">14256,19502,23171,26840,30509</AnnualExpensesSingle>
 <AnnualExpensesJoint type="list">27239,32485,36154,39823,43492</AnnualExpensesJoint>
 </common>
 <borrowingPower>
 <InterestRateForm label="interest rate" />
 <LoanTermForm label="loan period" />
 <BorrowingPowerPanel title="How much can I borrow?" />
 <NoOfDependantsForm label="number of dependents" />
 <YourIncomeForm label="your income" />
 
 <YourNetIncomeForm label="your net income" />
 <PartnerNetIncomeForm label="partner\'s net income" />
 <OtherNetIncomeForm label="other net income" />
 <OtherLoanRepaymentForm label="loan repayments" />
 <CreditCardLimitForm label="credit card limit (all cards)" />
 <AssumptionMaxIncomeAvailableForm label="max % of available income" />
 <AssumptionAnnualExpensesForm label="annual expenses" />
 <AssumptionInterestRateBufferForm label="interest rate buffer" />
 <AssumptionMinCreditCardRepaymentForm label="minimum credit card repayment" />
 <AssumptionExtraAnnualExpenseForm label="extra dependent annual expense" />
 <IsJointApplicationForm label="joint application?" />
 <InterestRate default="4.34" />
 <InterestRateFloor type="num" default="7.60" max="8" step="0.10" />
 <LoanTerm type="num" default="30" min="3" max="30" />
 <JointApplication type="boolean" value="true" />
 <Salary1 min="500" default="1000" />
 <Salary2 default="1000" />
 <Salary1Freq type="list" index="1" />
 <Salary2Freq type="list" index="1" />
 <OtherNetIncome default="0" />
 <OtherNetIncomeFreq type="list" selectedindex="1">Weekly,Fortnightly,Monthly,Annually</OtherNetIncomeFreq>
 <OtherRepaymentFreq type="list" index="2" selectedindex="1">Weekly,Fortnightly,Monthly,Annually</OtherRepaymentFreq>
 <AnnualExpensesSingle type="list" value="14256,19502,23171,26840,30509">14256,19502,23171,26840,30509</AnnualExpensesSingle>
 <AnnualExpensesJoint type="list" value="27239,32485,36154,39823,43492">27239,32485,36154,39823,43492</AnnualExpensesJoint>
 
 <Assumption1 type="num" default="100" max="100" />
 
 <Assumption2 type="num" default="15155" max="1000000" />
 
 <DependantExpense type="num" default="3669" max="20000" />
 
 <Assumption3 type="num" default="2.25" max="8" />
 
 <Assumption4 type="num" default="30" min="1" max="30" />
 <GeneralLivingExpense default="0" min="0" max="1000000" step="1000" />
 </borrowingPower>
 </vos>
 <components>
 <BorrowingPowerPanel title=" " />
 <Salary1Form label="my net salary (after tax)" />
 <Salary2Form label="partner\'s net salary (after tax)" />
 <GeneralLivingExpenseForm label="annual living expense" />
 <CustomCalculationEnabled value="true" />
 <ShowGeneralLivingExpense value="true" />
 </components>
</calculator>

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