How this calculator works
It takes the share of your take-home pay you're comfortable putting toward non-housing debt, subtracts the debt payments you already make, and treats what's left as a comfortable new monthly payment. It then works backward with the standard amortization formula to find the loan amount that payment supports at your chosen APR and term, capped at Loanify's $200 to $5,000 range.
This is a planning guide, not an approval decision. See how much you can borrow with Loanify and budgeting for loan repayment.
Frequently asked questions
What percentage of my income should go to debt?
Many planners suggest keeping non-housing debt payments under about 10% to 15% of take-home pay, so small surprises don't cause missed payments.
Why is the suggested amount lower than I need?
Your current payments may already use most of a comfortable budget. Consider a longer term, a smaller amount or paying down existing debt first.