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<calculator>
 <vos>
 <whereCanIBuy>
 <State index="0" />
 
 <FHOGAmount type="num" default="30000" min="1000" max="2000000" step="1000" />
 <Deposit type="num" max="1000000" default="1000" min="1000" step="1000" />
 <PropertyValue type="num" default="30000" min="1000" max="2000000" step="1000" />
 <FHOGEligible value="False" />
 <PropertyType value="House" />
 <FHOGAmountForm label="Loan Amount" />
 <DepositForm label="Deposit Available" />
 <PropertyValueForm label="Property Value" />
 <PropertyTypeForm label="Property Type" />
 <FHOGEligibleForm label="First Home Owners Grant" />
 <StateForm label="State" />
 <RegionForm label="Region" />
 <LoanAmount type="num" default="300000" min="40000" max="3000000" step="1000" />
 <LoanAmountRanges value="0,1000000,2000000,5000000" />
 <LoanAmountValues value="10000,50000,200000" />
 <LoanAmountInputMax value="5000000" />
 </whereCanIBuy>
 <borrowingPower>
 <RoundTo type="num" default="1000" min="100" max="1000" />
 <RoundAbove type="num" default="1000" min="100" max="10000" />
 <LoanAmount type="num" default="300000" min="40000" max="3000000" step="1000" />
 <LoanAmountRanges value="0,1000000,2000000,5000000" />
 <LoanAmountValues value="10000,50000,200000" />
 <LoanAmountInputMax value="5000000" />
 <LowestLoan type="num" default="1000" min="100" />
 <InterestRate type="num" default="5.42" max="20" min="0" step="0.25" />
 <LoanTerm type="num" default="25" min="1" max="30" step="1" />
 <NoOfDependants type="num" max="10" default="0" min="0" step="10" />
 <Salary1 type="num" default="4000" min="0" max="5000000" step="100" />
 <Salary2 type="num" max="5000000" step="100" default="1000" min="0" />
 <OtherNetIncomeFreq type="list">Weekly,Fortnightly,Monthly,Annually</OtherNetIncomeFreq>
 <OtherRepaymentFreq type="list">Weekly,Fortnightly,Monthly,Annually</OtherRepaymentFreq>
 <AnnualExpensesSingle type="list" value="16920,23239,29218,35196,41175">16920,23239,29218,35196,41175</AnnualExpensesSingle>
 <AnnualExpensesJoint type="list" value="24599,30578,36557,42535,48448">24599,30578,36557,42535,48448</AnnualExpensesJoint>
 <Assumption1 type="num" default="100" max="100" min="0" step="0.25" />
 <Assumption2 type="num" default="16460.60" max="1000000" min="11400" step="1000" />
 <DependantExpense type="num" default="5978.00" max="1000000" min="2880" step="1" />
 <Assumption3 type="num" default="1.5" max="8" min="1.5" step="0.25" />
 <Assumption4 type="num" default="22" min="1.5" max="22" step="0.25" />
 <OtherNetIncome default="1000" min="0" max="5000000" step="100" />
 <OtherLoanRepayment default="0" min="0" max="10000" step="100" />
 <CreditCardLimit default="0" min="0" max="100000" step="1000" />
 <IsJointApplication value="Yes" />
 <YourIncomeFrequency value="Weekly,Fortnightly,Monthly,Annually" />
 <YourOtherExpensesFrequency value="Weekly,Fortnightly,Monthly,Annually" />
 <InterestRateForm label="Interest Rate" />
 <LoanTermForm label="Loan Period" />
 <NoOfDependantsForm label="Number of Dependents" />
 <Salary1Form label="Your Net Income" />
 <Salary2Form label="Partner's Net Income" />
 <OtherNetIncomeForm label="Other Net Income" />
 <OtherLoanRepaymentForm label="Loan Repayments" />
 <CreditCardLimitForm label="Credit Card Limit (all cards)" />
 <Assumption1Form label="Max % of Available Income" />
 <Assumption2Form label="Annual Expenses" />
 <DependantExpenseForm label="Extra Dependent Annual Expense" />
 <Assumption3Form label="Interest Rate Buffer" />
 <Assumption4Form label="Credit Card Interest Rate Charged" />
 <IsJointApplicationForm label="Joint Application?" />
 <UserSalaryRangeWeekly min="0" max="10000" />
 <UserSalaryRangeFortnightly min="0" max="20000" />
 <UserSalaryRangeMonthly min="0" max="50000" />
 <UserSalaryRangeAnnually min="0" max="500000" />
 <PartnerSalaryRangeWeekly min="0" max="10000" />
 <PartnerSalaryRangeFortnightly min="0" max="20000" />
 <PartnerSalaryRangeMonthly min="0" max="50000" />
 <PartnerSalaryRangeAnnually min="0" max="500000" />
 <OtherNetIncomeRangeWeekly min="0" max="10000" />
 <OtherNetIncomeRangeFortnightly min="0" max="20000" />
 <OtherNetIncomeRangeMonthly min="0" max="50000" />
 <OtherNetIncomeRangeAnnually min="0" max="500000" />
 <IncomeStepRanges value="0,10000,30000,50000" />
 <IncomeStepValues value="100,1000,5000" />
 <IncomeInputMaxValue value="5000000" />
 </borrowingPower>
 <common>
 <ProductFeed value="true" visible="false" />
 <ProductFeedURL value="https://www.infochoice.com.au/ich/handler/reportHandler?reportId=422&amp;reportView=ProductList&amp;reportOutput=Xml&amp;skinId=1" />
 <MaxDependents value="4" />
 <BorrowingPowerAssumptionsText type="cdata"><![CDATA[ Calculator Information
 
 The Where Can I Buy Calculator is an extension of the Borrowing Power Calculator. The first step determines 
				your borrowing capacity based on your current salary and expenses. Then you can add your deposit to get an 
				indication of what postcodes may offer you affordable properties around Australia. Property information 
				used in the calculator is provided by Residex Pty Ltd.
 <div class="ic-hrline">
 </div>
 Calculator Assumptions
 Expense Details 
 
 <ul>
				<li>a) Credit card monthly repayments are taken into account and this reduces the maximum loan determined by the calculator. The monthly credit card payments for a 3 year amortising loan with interest charged at 22% per annum with monthly compounding is computed and assumed to be paid by the borrower thus reducing their capacity to service other debt. Credit card fees which may be levied are not included in this calculation. </li>
				<li>b) Core expense annual allowance - borrower assumed to have core level of annual expense, depending on whether single or joint and the number of dependants, currently as below. These figures assume a member of the household is in the workforce and expenses do not include housing.
 <div class="ic-alignC">
 <table width="250" border="0" cellspacing="0" cellpadding="0">
 <tr>
 <th scope="col" width="110">
 No. dependants
 </th>
 <th scope="col" width="70">
 Single:
 </th>
 <th scope="col" width="70">
 Joint:
 </th>
 </tr>
 <tr>
 <td class="ic-units">
 0
 </td>
 <td class="ic-units">
 $16,920.00
 </td>
 <td class="ic-units">
 $24,599.00
 </td>
 </tr>
 <tr>
 <td class="ic-units">
 1
 </td>
 <td class="ic-units">
 $23,239.00
 </td>
 <td class="ic-units">
 $30,578.00
 </td>
 </tr>
 <tr>
 <td class="ic-units">
 2
 </td>
 <td class="ic-units">
 $29,218.00
 </td>
 <td class="ic-units">
 $36,557.00
 </td>
 </tr>
 <tr>
 <td class="ic-units">
 3
 </td>
 <td class="ic-units">
 $35,196.00
 </td>
 <td class="ic-units">
 $42,535.00
 </td>
 </tr>
 <tr>
 <td class="ic-units">
 4
 </td>
 <td class="ic-units">
 $41,175.00
 </td>
 <td class="ic-units">
 $48,448.00
 </td>
 </tr>
 </table>
 </div>
 </li>
 <li>c) Extra core expenses for more than 4 dependants - currently set at $5,978.</li>
 <li>d) Maximum percentage of income available - percentage of income available for paying expenses and servicing 
						proposed borrowing currently set at 100%.</li>
 </ul>
 
 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 1.5%.
 
 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 
				interest on a daily basis which means monthly interest charges may vary depending 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.
				Interest Rate
 
 The interest rate used in this calculation is the ING Orange Advantage Rate for investment purposes 
 (which is a variable interest rate based on principal & interest repayments) and may change at any time without notice.
 ]]></BorrowingPowerAssumptionsText>
 <Footer type="cdata"><![CDATA[Note: The results are an approximate guide and should not be used as exact values for 
 financial planning purposes. The results do not constitute an offer to provide credit and do not imply that credit 
 is available. The formulae used within this calculator may change at any time without notice. Applications are subject 
 to ING's usual credit assessment. Fees and charges apply. Full details of terms and conditions, including fees 
 and charges are available on request. Price results and area recommendations are based on information provided by 
 Residex Pty Ltd. Calculator © InfoChoice 2020.]]></Footer>
 </common>
 </vos>
</calculator>

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uat Calculator Admin

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