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!
About
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.