Loan Affordability Calculator
Estimate how much you can afford to borrow based on your income, debts, and desired loan terms.
Last Updated: July 31, 2024
Financial Details
Enter your financial details to estimate the loan amount you might be able to afford.
Loan Affordability
You Can Afford a Loan Of
₹2,48,007
Estimated Monthly Payment
₹1,650
About the Loan Affordability Calculator
What is Loan Affordability?
This calculator helps you estimate the total loan amount you might be able to borrow based on your income and existing financial commitments. It's a crucial first step before applying for a home loan, car loan, or any major financing.
How it Works
The calculation is based on your **Debt-to-Income (DTI) ratio**. This is the percentage of your gross monthly income that goes toward paying your monthly debt. Lenders use this ratio to assess your ability to repay a new loan. A lower DTI suggests you can handle a new loan more comfortably.
Loan Affordability FAQs
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