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Loan Affordability Calculator
Determine how much you can afford to borrow based on your income and expenses
Your Financial Information
$
Before taxes and deductions
$
Credit cards, car loans, student loans, etc.
$
Current rent or mortgage, insurance, taxes
Loan Details
Estimated: 8% based on your credit
$
Your Results
Maximum Loan Amount
$0
Based on 43% DTI ratio
Max Purchase Price
$0
Loan + Down Payment
Monthly Payment
$0
Principal & Interest
Current DTI Ratio
0%
Excellent
New DTI Ratio
0%
With new loan
Loan Breakdown
Total Amount Borrowed:$0
Total Interest Paid:$0
Total Amount Paid:$0
DTI Ratio Guidelines
- Excellent (0-36%)
Strong financial position for borrowing
- Good (37-42%)
Generally acceptable to lenders
- Fair (43-49%)
May qualify with restrictions
- Poor (50%+)
Difficult to qualify for new loans
Interest Rate Estimates
- Excellent Credit (740+): 6.5-7.5%
- Good Credit (700-739): 7.5-8.5%
- Fair Credit (660-699): 8.5-10%
- Poor Credit (620-659): 10-12%
- Bad Credit (Below 620): 12%+
Rates vary by lender and loan type
Tips for Better Rates
- Improve your credit score before applying
- Lower your debt-to-income ratio
- Save for a larger down payment (20%+)
- Shop around with multiple lenders
- Consider a shorter loan term
- Get pre-approved to know your options