Debt Lifter Help
Borrowing Calculator
Use this calculator to compare lender offers and estimate how much you may be able to borrow from the payment you can afford.
Inputs
- Lender Name
- Enter a lender name so each offer is easy to identify.
- Desired Payment
- Enter the monthly payment amount you can afford or want to compare.
- APR (%)
- Enter each lender's annual percentage rate.
- Term (Months)
- Enter the repayment length offered by each lender.
Results
- Principal Amount
- Shows the estimated amount you may be able to borrow from the chosen payment, APR, and term.
- Higher Borrowing Power
- Identifies which lender provides the higher estimated borrowing amount.
- Borrowing Difference
- Shows the estimated difference between the two lender offers.
- Total Paid Over Term
- Shows the payment multiplied by the term. If the payment and term match, this can be the same even when APR differs.