While you might be able to afford a larger loan than you think, be careful not to take on more debt than you can handle comfortably. Financial experts recommend that you spend no more than 15 percent of your disposable income on debt payments, not including your home mortgage. When considering the amount of money you want to borrow, pay attention to this rule of thumb if you don't want to get overburdened.

 

Use the calculator below to see how large a loan you can afford.

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Estimated monthly payment you can afford ($)
Interest rate* (%)
Length of loan (in years)
*For adjustable-rate loans, use your current rate as an estimate.


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Parties are advised to verify the information through personal inspection.

Loan Size Calculator