Why do we have to tell the lender what we spend each month?

All lenders require certain information in assessing your loan application and your monthly living expenses plays a fairly large part of their assessment.  They need to know that you can afford the loan.  

Click on the button below and it will open the Living Expense Calculator.  It allows you to select the relevant frequency of your expenses and automatically calculates your monthly total.  Be as accurate as you can as this will help determine your borrowing power.