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Loan Affordability

The loan amount a monthly budget can support at a given rate.

Enter values

$
% p.a.
years
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—

The formula

P = M × (1 − (1 + i)⁻ⁿ) / i

This runs the loan formula backwards: instead of asking what a loan costs each month, it asks what loan a monthly budget supports. Lenders also weigh income ratios, existing debts and credit history, so treat this as the mathematical ceiling rather than an offer.

All calculations run locally in your browser and update instantly as you type.

Example calculations

Common questions this calculator answers — select one to load its values.

How much can I borrow on a $1,500 monthly budget at 8% over 20 years? You can afford a loan of $179,331.44 What loan does $800 a month support at 6% over 15 years? You can afford a loan of $94,802.81

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Frequently asked questions

Is this how much a bank will lend me?+
Not exactly — lenders also weigh income ratios, credit history and other debts. This shows the mathematical maximum your budget supports; borrowing below it leaves a safety margin.
All calculations run locally in your browser. Nothing you type is sent to a server.