Loan amount calculator
Pick the payment that fits your budget and see how big a loan it covers.
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Processing and privacy: The result is calculated inside your browser and your data is not sent to any server.
How to use it
- Enter monthly payment, annual interest rate and repayment term.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Loan amount = payment × (1 − (1 + r)^−n) ÷ r, where r is the annual rate ÷ 12 and n the months. At 0%: payment × n.
Example
Inputs: Monthly payment = 1,000, Annual interest rate = 5 %, Repayment term = 60 months. Result: Loan amount: 52,990.71; Total paid: 60,000.00; Total interest: 7,009.29.
Limits and caveats
- Assumes a fixed declining balance rate with no fees or balloon.
- It does not reflect lender eligibility rules. For a salary-based limit use the loan affordability calculator.
Questions about this tool
Why is the amount less than payment × months?
Part of every payment is interest, so the loan it covers is smaller than the sum of payments.
How can I borrow more at the same payment?
Stretch the term or get a lower rate, keeping in mind that a longer term raises total interest.
Should the payment include insurance?
No, enter only the part that repays the loan, since insurance does not reduce principal.