Loan Eligibility Calculator

Check your loan eligibility based on income and debt. Get pre-qualification estimates.

Understanding Loan Eligibility

Lenders use the 28/36 rule to determine loan eligibility: You should spend no more than 28% of gross income on housing and no more than 36% on total debt obligations.

Credit Score Ranges

300-579: Poor CreditMay face challenges getting approved
580-669: Fair CreditHigher interest rates likely
670-739: Good CreditStandard rates available
740-850: Excellent CreditBest rates available

Tips for Better Loan Approval

  • Improve your credit score before applying
  • Reduce existing debt obligations
  • Provide a stable income history
  • Consider a co-signer if needed
  • Save for a larger down payment
  • Compare rates from multiple lenders

Frequently Asked Questions

Is this calculation accurate?

This is an estimate based on standard lending criteria. Actual approval depends on many factors including employment history, assets, and specific lender policies. Consult with a lender for accurate information.

Frequently Asked Questions

Is this tool free?

Yes! All our tools are completely free. No registration, no hidden charges, no ads. Just open and use.

🔒 Is my data safe?

Absolutely. All calculations happen in your browser. We don't store, send, or track any of your data. Everything is processed locally on your device.

📱 Can I use this on mobile?

Yes! All our tools are fully responsive and work perfectly on smartphones, tablets, and desktops.

🌐 Do I need internet?

No! Once the page loads, you can use the tool completely offline. All calculations happen in your browser without any server connection.