Loan Affordability Calculator
Find out how much loan you can afford based on your income, existing debt, target DTI, interest rate and term.
Inputs
Total of all current loan and credit-card minimum payments
Lenders typically allow 36–43%
Result
Affordable Loan Amount
$80,910.36
Based on 36% DTI · 60 months
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Formula
Affordable payment = max(0, target DTI × monthly income − existing debt). Then Principal = Payment × ((1 + r)^n − 1) / (r × (1 + r)^n).
How it works
A loan affordability calculator estimates the maximum loan you can comfortably borrow based on your gross monthly income, existing debt payments, target debt-to-income ratio, rate and term.
Example
Example: A $6,000/month income with $500 in existing monthly debt, a 36% target DTI, 8.5% APR and 5-year term yields a $1,660 affordable monthly payment and an affordable loan amount of about $80,910.
Frequently Asked Questions
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