Loan Prequalification Calculator

Use this calculator as your first step in determining your ability to qualify for a loan. While this calculator can't guarantee you will qualify for your new loan, it is a good check point to see if it is within your means.

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Debt & Credit Information
Annual after-tax income INCOME_AMOUNT
Number of income sources INCOME_SOURCES
Payments for existing debt* LIABILITY
Credit card limit CREDIT_CARD_LIMIT
Number of dependants DEPENDANTS
Real estate that will secure this loan REAL_ESTATE_SECURITY
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*Total existing monthly payments remaining after the funds from this loan have been received. This total does not include the following: Any loan payments on loans paid off with proposed new loan, the new loan payment, any credit card payments.

Loan summary

Your loan of NEW_LOAN_BALANCE will have a monthly payment of NEW_LOAN_PAYMENT. The term is NEW_PAYOFF. The total interest if you make all of the payments will be INTEREST_NEW.
Loan Summary
Loan amount NEW_LOAN_BALANCE
Monthly payment NEW_LOAN_PAYMENT
Interest rate NEW_LOAN_RATE
Term NEW_PAYOFF
Total interest INTEREST_NEW

Payment schedule

**REPEATING GROUP**

Loan Prequalification Calculator Definitions

Loan amount
Total amount to be taken for this loan.
Interest rate
Annual interest rate for this loan.
Loan term in years
Number of years for this loan's term.
Annual after-tax income
Your total after-tax income for the current year from all sources of income from all borrowers on this loan.
Number of income sources
Number of income sources from all borrowers. The more income sources you have, the better your ability to qualify for your new loan.
Payments for existing debt
Total existing monthly payments remaining after the funds from this loan have been received. This total does not include the following: Any loan payments on loans paid off with proposed new loan, the new loan payment, any credit card payments.
Credit card limit
Your current total credit card limit. This is the total limit of your credit cards, not your outstanding balance. Include the credit cards from all borrowers on this loan.
Number of dependants
Total number of dependants. This number does not include the borrower.
Real estate that will secure this loan
Total value of the equity you have in real estate that will secure this loan. If you already have a loan secured by the same real estate you are using for this loan, make sure to only enter the equity you have in that real estate.


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