Why Banks Set Priority Amounts On Home Loans
Ever looked at your mortgage papers and spotted a number bigger than your actual loan? We dive straight into the mystery of the “priority amount” — what it is, why banks set it higher than your borrowing today, and how that bigger figure can save you time and money down the road. With Kunch in the studio, we translate legalese into plain speech and show how this one line on your mortgage can shape future top-ups, renovations, and even second mortgages.
We break down how banks pick the value they rely on, why the 1.5x rule is common, and what happens when you want to reborrow against growing…
The skinny
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