Loan Affordability Calculator
Loan Affordability Calculator
The Loan Affordability Calculator will assist you in knowing how much they can really afford to borrow based on their financial situation.
The Loan Affordability Calculator will require you to submit your monthly income, monthly expenses and desired monthly loan payment to the financial institution.
Input Parameters
- Income: Your total monthly or annual income forms the foundation of your borrowing capacity. The calculator considers various sources of income, including salary, rental income, and investments.
- Expenses: This category includes all your monthly expenditures, such as housing costs, utility bills, transportation expenses, and other obligations.
- Desired Monthly Loan Payment: The individual has to submit the amount that he desires to pay loan monthly.