Loan Prequalification Calculator
Use this calculator as your first step in determining your ability to qualify for a loan. While this calculator can't guarantee you will qualify for your new loan, it is a good check point to see if it is within your means.
Definitions
- Loan amount
- Total amount to be taken for this loan.
- Interest rate
- Annual interest rate for this loan.
- Loan term
- Number of years for this loan's term.
- Total annual after-tax income
- Your total after-tax income for the current year from all sources of income from all borrowers on this loan.
- Number of income sources
- Number of income sources from all borrowers. The more income sources you have, the better your ability to qualify for your new loan.
- Existing monthly debt payments
- This is your total monthly debt payment for existing loans that will not be paid off by this new loan. Do not include any credit card payments in this amount. Include debt payments for all borrowers on this loan.
- Credit card limit
- Your current total credit card limit. This is the total limit of your credit cards, not your outstanding balance. Include the credit cards from all borrowers on this loan.
- Number of dependants
- Total number of dependants. This number does not include the borrowers.
- Real estate that will secure this loan
- Total value of the equity you have in real estate that will secure this loan. If you already have a loan secured by the same real estate you are using for this loan, make sure to only enter the equity you have in that real estate.
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These interactive calculators are not intended to provide or replace specific professional financial advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical, are for illustrative purposes only, and may differ from more in depth analysis results. They do not represent the past performance of any specific product, nor should they be viewed as a promise of future results of any product offered by Thrivent Financial Bank or its affiliates. We encourage you to seek personalized analysis regarding all personal finance issues.
