Calculating a loan by simulating it provides insight into the loan amount, repayment terms and annual cost percentage. The net income and a number of fixed costs are the starting point for the borrowing capacity. Enter this and discover the maximum amount that can be borrowed and what the monthly payment is.
| Lender | Information | Max. Loan | To request |
 | Review | $ 200,000 Interest (APR) 4.99% | |
 | $ 100,000 Interest (APR) 4.95% | ||
 | Review | $ 50,000 Interest (APR) 3.99% | |
 | Review | $ 15,000 Interest (APR) 9.5% | |
 | Review | $ 75,000 Interest (APR) 4.85% | |
 | $ 70,000 Interest (APR) 5.57% |
How much money can I borrow?
To borrow money from a lender it is necessary that there is income. After all, there must be repayment capacity. The income gives the lender the assurance that there can be Demorei to repay it in the form of a monthly repayment. The amount to be borrowed depends on the income. The higher the income, the more money can be borrowed. In addition to income, a number of fixed costs are also considered. For example, what people spend on the rent or mortgage loan . When calculating the loan, you are also asked about any other existing debts. By mapping all of this, it becomes clear how much money you can borrow from the bank or another lender.
Simulate loan based on amount required
When calculating the loan, it is first important to see what the borrowing capacity is. After that, it can be checked whether the required amount meets this requirement. The simulation can then be performed on the basis of the required amount. If you borrow money, you usually do it for a specific purpose. Based on the purpose, an amount is known that is necessary to borrow. For example for a car, personal project or if there are money problems that often require some money. For the simulation of the loan, the required amount in combination with the target can serve as a starting point. There are different types of loans available, such as a car loan , cash reserve, credit facility or mortgage loan. In the simulation you can choose the monthly desired repayment that is linked to the total number of months of the term. When a high monthly repayment is chosen, the term is shorter. The term gets longer as the monthly repayment decreases.
What does a loan cost?
When calculating the loan, insight is also provided into the costs of the credit. The fact is that borrowing money always entails costs. The amount of the costs depends on the annual percentage rate. In that respect, there may be a difference in the amount of the annual percentage rate. This difference is not only visible in the type of loan, but is also present when looking at the options with different lenders . That is why it is definitely recommended to perform this simulation with several lenders when calculating a loan. Then the difference in costs becomes immediately clear. When all calculations have been performed and the loans have been compared, an application can be submitted. The application for a loan can be made without obligation. The easiest way is to send the loan application to the lender online.