How Large Loan Can I Afford

This calculator is a fast and easy tool to find out how much money you will be able to borrow. Just fill out the boxes below and press 'calculate'. Do not forget about compounding frequency.

Monthly payment you can afford - The amount of money you know you can afford to pay every month to a lender as a repayment of your mortgage. Property taxes, utilities, and other expenses are going on top of it.
Annual interest rate - The amount charged by a lender to a borrower as 'rent' for the use of the lender's money. Interest charges generally accrued as a percentage of the amount borrowed. The interest rate is usually quoted in percent per year.
Compounding frequency - A number that determines how many times a year the interest rate is calculated ( annually=1, semi-annually=2, monthly=12 ). The more often interest is calculated during a year, the greater the yield to the lender and the more expensive the loan for the borrower.