Financial Tool
Loan Affordability Calculator
General purpose calculator to see how much you can borrow based on a monthly payment.
$
You can borrow up to
$11,766
Σ The Formula
Loan = PMT × [(1 - (1+r)⁻ⁿ) / r]
Real World Examples
Personal Loan
Paying $250/mo for 5 years at 10% interest allows you to borrow ~$11,766.
Financing Gear
If you can spare $100/mo for 12 months at 20%, you can afford a ~$1,079 purchase.
# About This Calculator
The Loan Affordability Calculator helps you determine the principal amount of a loan you can take on based on the maximum monthly payment you are comfortable making.
This is useful for personal loans, business equipment, or small property improvements where you have a fixed monthly surplus in your budget.
How To Use
- Enter the **Monthly Payment** you can afford.
- Enter the **Loan Term** in years.
- Enter the expected **Interest Rate (APR)**.
- The result is the maximum amount any lender should give you for those terms.
Frequently Asked Questions
Is Loan Affordability Calculator free to use?+
Yes, Loan Affordability Calculator on Matheric is completely free to use. We believe in accessible education and utility for everyone.
How accurate is Loan Affordability Calculator?+
We use standard mathematical formulas and high-precision computing algorithms to ensure results for Loan Affordability Calculator are accurate for academic and professional use.
Can I use Loan Affordability Calculator on my phone?+
Yes! Loan Affordability Calculator is fully responsive and optimized for all devices, including smartphones, tablets, and desktops.
Do you save my data?+
No. We prioritize your privacy. All calculations are performed in your browser or temporarily processed, and we do not store your personal input data.
How do I report a bug?+
If you notice any issues with Loan Affordability Calculator or have suggestions for improvement, please contact us via the link in the footer. We value your feedback!
Can I request a new feature?+
Absolutely. We are constantly expanding our toolset. Feel free to reach out with your requests, and we might build it next!