Personal loan calculator: How much can I borrow? | finder.com

Personal loan calculator: How much can I borrow?

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Find out how much you might be eligible to borrow based on your income and expenses.

How do I use this calculator?

Follow these steps to fill out the fields in the calculator. If a field doesn’t apply to you — for example, you’re not a landlord or don’t have a car loan — leave that section blank.

  1. Under Loan Details, select the amount of time you have to pay back the loan next to Term, enter an interest rate or annual percentage rate (APR) you think you can qualify for next to Interest rate and select Single or Joint next to Application type if you plan on applying with another person.
  2. Under Income, select your the income frequency you want to use and enter the amount you earn before taxes for Gross Income 1. If you’re applying with another person, enter their pretax income next to Gross Income 2. Finally, enter any untaxed or rental income you earn.
  3. Under Expenses, enter the amount you pay each month toward other personal loans, car loans and credit cards. Then enter the number of people you and/or your joint applicant count as a dependent on your taxes next to Number of dependents.
  4. Click Calculate.

The results show how much you may be eligible to borrow, what your monthly repayments would be based on the term and interest rate you filled in and how much you’d pay total in interest over the life of your loan.

Definitions to know

Not sure what a term means? These definitions might help.

What’s the maximum amount I could get on a personal loan?

Typically, most lenders offer personal loans up to $50,000. However, some lenders offer loans up to $100,000 to borrowers with excellent credit and high income, which is usually at least $150,000 a year. The stronger your application, the more money you’re likely to get approved for.

Lenders look at factors like your credit score, your income, your debt-to-income ratio (DTI), what you intend to use your funds for and even sometimes your level of education and career.

How to strengthen your application for a large personal loan

Bottom line

This calculator is a good starting point to figure out how much you could afford to borrow and how much lenders might approve you for. Keep in mind that your credit is a big factor in your eligibility as well. And when you’re ready to apply for a personal loan, compare some of the best personal loan options.

Ready to borrow? Compare personal loan options

Updated June 25th, 2019
Name Product Filter Values Minimum Credit Score Max. Loan Amount APR
550
$100,000
3.99% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
680
$100,000
5.99% to 16.24%
No fees. Multiple member perks such as community events and career coaching.
640
$40,000
6.95% to 35.89%
A peer-to-peer lender offering fair rates based on your credit score.
Good to excellent credit
$100,000
5.34% to 35.99%
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
620
$50,000
7.98 to 35.99%
This service looks beyond your credit score to get you a competitive-rate personal loan.
550
$100,000
3.84% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.
550
$10,000
34% to 155% (Varies by state)
Check eligibility in minutes and get a personalized quote without affecting your credit score.
640 FICO®
$35,000
5.99% to 29.99%
A prime lender with multiple repayment methods.

Compare up to 4 providers

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US Personal Loans Offers

Important Information*
Logo for Credible Personal Loans
Credible Personal Loans

Get personalized rates in minutes and then choose a loan offer from several top online lenders.

Logo for Even Financial Personal Loans
Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.

Logo for LendingClub Personal Loan
LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

Logo for SoFi Personal Loan Fixed Rate (with Autopay)
SoFi Personal Loan Fixed Rate (with Autopay)

No fees. Multiple member perks such as community events and career coaching.

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6 Responses

  1. Default Gravatar
    BrianJune 10, 2019

    In the past 3 months, started to establish credit. I have 2 credit cards one is secured for 400. One is unsecured for 300. I am an authorized user on my father’s unsecured credit card, for 300. So I have 1000 credit available. My credit score is a 613 on creditsesame and a 609 on creditwise. I am curious of my odds of getting a loan for 10000 to buy a car or two.

    • Avatarfinder Customer Care
      JeniJune 10, 2019Staff

      Hi Brian,

      Thank you for getting in touch with Finder.

      Please note that while the eligibility requirements for a car loan vary by lender, you generally need to meet the following criteria:

      -At least 18 years.
      -US citizen or permanent resident.
      -Good credit history.
      -Steady source of income.

      I suggest that you also contact your chosen bank/lender to know your chances of being approved as well as reading relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  2. Default Gravatar
    aaronApril 23, 2019

    i need 50000 in cash for a mobile home purchase for my daughter with terrible credit…i have excellent credit and do not want to take out a home equity loan on my own…any ideas on getting a loan with the lowest interest rate….

    • Avatarfinder Customer Care
      johnbasanesApril 24, 2019Staff

      Hi Aaron,

      Thank you for reaching out to Finder.

      Apart from taking out a personal loan you may also want to check on being a cosigner instead for the loan that your daughter may take out. Please click here to be routed to that page. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

  3. Default Gravatar
    JS1959February 23, 2019

    I have two high-interest loans that I pay $1010 together a month. I’m not late and I pay 100% on time.
    I want to borrow $33,000 to pay both off and just have 1 payment at a lower interest rate but not a single lender I’ve checked will not help me. Why? My credit score is 743.

    • Avatarfinder Customer Care
      JoshuaFebruary 25, 2019Staff

      Hi JS1959,

      Thanks for getting in touch with Finder. I’m sorry to hear about the trouble you are having.

      There are a few things that might prevent your loan application from getting approved. It could be because you have insufficient income, you provided wrong information, you hold too many loans, or you are trying to borrow too much money. Addressing any of these reasons could increase your chance of getting approved.

      Moreover, you might also try using an asset as security or ask someone to be your guarantor. Before you apply for another loan, check their minimum income requirement and credit requirements.

      You may also find this guide helpful. On that page, you will know the most common reasons personal loans aren’t approved as well as How to avoid your personal loan being rejected.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

US Personal Loans Offers

Important Information*
Logo for Credible Personal Loans
Credible Personal Loans

Get personalized rates in minutes and then choose a loan offer from several top online lenders.

Logo for Even Financial Personal Loans
Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.

Logo for LendingClub Personal Loan
LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

Logo for SoFi Personal Loan Fixed Rate (with Autopay)
SoFi Personal Loan Fixed Rate (with Autopay)

No fees. Multiple member perks such as community events and career coaching.

Go to site