Comment l'utiliser
- Enter Monthly payment you can afford.
- Enter Annual rate %.
- Enter Term (years).
La formule
Max loan = payment × (1 − (1+r)⁻ⁿ) ÷ r.
Exemple concret
About this calculator
Lenders answer 'how much will you give me?'; this tool answers the healthier question — 'how much should I take?'. Fixing the payment first anchors the decision in your actual monthly budget, before a bank's marketing number does it for you.
Play with the rate field: at higher rates the same payment supports a visibly smaller loan. That sensitivity is exactly what happens to buyers when rates move between mortgage approval and completion — seeing it in advance is cheap insurance.
Questions fréquentes
Why calculate this direction?
Because budgets are real and loan offers are negotiable. Start from what you can pay, not what a lender will give.
Should I use my maximum budget?
No — leave room for rates rising, repairs and life. Many advisers suggest capping housing at 28% of gross income.
Does the term change the answer a lot?
Enormously. The same payment supports a far larger loan over 30 years than 15 — but costs much more interest.
Conseils
- A shorter term costs less overall even if the payment is higher.
- Check the APR, not just the rate, to compare fairly.
- Read the fine print for fees and prepayment penalties.
Termes clés
- APR
- Yearly cost including fees, as a percentage.
- Term
- How long you repay the loan.
- Collateral
- An asset securing the loan.