Enter a payment you're comfortable with and see the loan it can carry.
A borrowing-power calculator works backward from a monthly payment you're comfortable with to the loan amount it can support, given the interest rate and term.
Deciding what monthly payment fits your budget, then solving for the loan it carries, keeps you in control, the opposite of shopping by sticker price and stretching to fit. The calculator inverts the standard loan formula so you can see exactly how much a given payment borrows at a given rate and term.
This shows what a payment can mathematically support, but a lender's approval also depends on your income, credit score, existing debts, and debt-to-income ratio. A longer term raises the amount you can borrow for the same payment but increases total interest, so borrowing the maximum a payment allows isn't always the wise choice.
It depends on the rate and term. Enter your comfortable payment above and the calculator solves for the loan amount it supports.
Yes, for the same payment, a longer term supports a larger loan, but you pay more total interest.
Lenders weigh income, credit score, existing debts, and debt-to-income ratio alongside the payment math.
See the exact formula and a worked example on our methodology page.