§ Calculator · Loans
Loan prequalification
What this is
Max personal loan based on income + existing debt + DTI ceiling.
Lenders cap total debt service at ~40-44% of gross income for personal loans (lower for HELOCs, similar to mortgage TDS). Subtract your existing monthly debt payments, what's left is your loan-payment budget.
Debt budget
$3,000
Available for new loan
$2,100
Max loan principal
$101,188
Most Canadian lenders use 40% DTI as a working ceiling for unsecured loans. Add credit score: a 720+ score gets you the posted rate; sub-660 pays 200-400 bps more.
Disclaimer
Educational, not financial advice. Output is generated by an AI assistant using simplified assumptions. Tax rates, contribution limits, and benefit amounts change annually; confirm with a CFP, CPA, or the relevant Canadian regulator (CRA, FSRA, OSC, IIROC) before acting.