# How Much of a Loan Can I Afford Calculator

> Calculate the maximum loan principal supported by a payment budget, rate, term, and financed fees.

Page: https://askcalculators.com/calculator/how-much-of-a-loan-can-i-afford-calculator/
Definition: https://askcalculators.com/calculator/how-much-of-a-loan-can-i-afford-calculator/definition.json
JSON Schema: https://askcalculators.com/calculator/how-much-of-a-loan-can-i-afford-calculator/schema.json
Version: 1.0.0
Maintained by: AskCalculators (software project; not a credentialed reviewer)
Qualified review: pending. Automated checks do not establish professional approval.
Page status: Live
Review status: Pending

## Use
Open the calculator page and enter values. Query-string parameters can restore and bookmark a calculation.
Example: https://askcalculators.com/calculator/how-much-of-a-loan-can-i-afford-calculator/?paymentBudget=500&annualRate=7&paymentsPerYear=12&years=5&financedFeePercent=0

## Inputs
- paymentBudget: Maximum periodic payment; type=money; required; default=500; min=0
- annualRate: Annual nominal rate; type=percent; required; default=7; min=0; max=100
- paymentsPerYear: Payments per year; type=number; required; default=12; min=1; max=365
- years: Loan term in years; type=number; required; default=5; min=0.01; max=100
- financedFeePercent: Financed fee as % of gross loan; type=percent; required; default=0; min=0; max=99.99

## Outputs
- maximumGrossLoan: Maximum gross loan; format=currency; primary
- netLoanProceeds: Estimated net proceeds; format=currency
- totalPayments: Total scheduled payments; format=currency
- totalInterestAndFees: Payments less net proceeds; format=currency
- paymentCount: Number of payments; format=integer

## Formula
present value = payment × [1 − (1+i)^−n] ÷ i; net proceeds = gross loan × (1 − fee%)

## Rules
- Empty optional inputs are undefined, not zero.
- Hidden conditional inputs are ignored.
- Do not invent missing required inputs.

Notice: This estimate is not a loan offer or approval and does not account for all lender fees or underwriting requirements.