Loan Eligibility Calculator
Calculate how much you can borrow for your next loan. Determine your borrowing capacity based on income, expenses, credit score, and loan type.
Step 1: Loan Details
Understanding Loan Eligibility
Lenders assess your debt-to-income ratio, credit score, and financial stability. Typically, monthly loan payments shouldn’t exceed 35-40% of your gross monthly income.
Step 2: Financial Information
About Credit Scores
Credit scores range from 300-850. Scores above 700 are considered good, while above 800 are excellent. Higher scores typically qualify for better interest rates.
Loan Eligibility Results
Maximum Loan You Qualify For
Loan Type Comparison
| Loan Type | Typical Term | Interest Range | Max Loan-to-Income |
|---|
Affordability Breakdown
Eligibility Calculation Formula
Max Loan = (Annual Income × Loan-to-Income Ratio) ÷ (Interest Factor × Term Factor)
Loan-to-income ratio varies by loan type and credit score. Interest factor accounts for the interest rate over the loan term. Term factor adjusts for repayment period.
Need Professional Financial Advice?
Connect with our financial advisors for personalized loan recommendations, credit improvement strategies, and debt management plans.
Consult a Financial Advisor