Loan Affordability Calculator
Determine how much loan you can afford based on your income and debts
Your Information
Your Affordability
Maximum Loan Amount
$45,998
Maximum Monthly Payment
$900
Debt-to-Income Ratio
10%
Affordability Tips
Lenders typically allow up to 28% of gross monthly income for housing payments
Quick Facts
Your debt-to-income ratio is one of the most important factors lenders consider
Note
Pre-approval amounts may differ from actual approval based on credit score and history
How Loan Affordability Works
This calculator uses standard lending criteria to determine what loan amount you can afford. It considers your income, existing debts, loan term, and interest rate.
- Maximum housing payment is typically 28% of gross income
- Total debt payments shouldn't exceed 43% of gross income
- Uses standard amortization formula for payment calculations
Last updated: February 2026
Loan Affordability FAQ
What is debt-to-income ratio?
It's the percentage of your monthly income that goes toward debt payments. Most lenders want to see this under 43%.
Can I borrow more than this shows?
Possibly, but lenders may charge higher interest rates. This calculator uses conservative lending standards.
Does this include taxes and insurance?
This calculator focuses on the loan payment itself. Actual affordability may be lower when including taxes and insurance.
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