A worked example
A $20,000 loan at 6% over 5 years comes to about $387 a month. Working backward: if $500 a month is what you can afford at that same rate and term, you could support a loan of roughly $25,863.
Frequently asked questions
When should I use the 'loan amount' mode instead of 'payment' mode?
Use it when you're budgeting first — you know what you can comfortably afford each month and want to know how large a loan that translates to, rather than starting from a specific loan amount.
Does the reverse mode account for taxes, insurance, or fees?
No — it's pure loan math (principal, rate, term). For a mortgage specifically, where taxes and insurance matter a lot, use the House Affordability Calculator instead.
This calculator provides estimates for general informational purposes only and is not financial advice.