If you want to buy a house, buy a car, have a renovation or just when you need some extra money, you will most likely look into the possibility of borrowing money. It is nice when you then know approximately what amount to think about. How much money do you need in total for what you want to do? How much of that amount should you borrow? How much can you borrow in your personal situation? And how much does a loan cost exactly? If you can get a good idea of the amounts, it will help you make the right decision and find a cheap loan . You can calculate your loan yourself relatively easily. Below we tell you how you can calculate your loan yourself and what you should take into account.

## How much to borrow? Calculate yourself

If you are somewhat familiar with the rules and percentages that a lender uses for a certain type of loan, you can of course already make an estimate for yourself. For example, you can estimate the maximum purchase price of a house if you know the maximum mortgage you can get and that the maximum purchase price usually amounts to just over 90 percent of that amount. However, it is easiest to use one of the online calculation tools to calculate your loan yourself.

There are numerous calculation tools for loans on the internet. There are independent calculation tools and some lenders also have a calculation tool on their website. With such a calculation tool you can, for example, calculate what you can borrow for the purchase of a new car by entering a number of data. There are also calculation tools that can even give you an indication of the maximum amount that you can expect in a mortgage from a mortgage lender. And with other calculation tools you can check what a small mini loan will ultimately cost you if you have repaid and paid everything.

## Calculate your loan yourself: tips

When you calculate your loan yourself, you have to take a number of things into account:

- Different calculators use different ways to arrive at an amount. For example, with some calculation tools you only have to indicate what your income is and how much you want to borrow; with other calculation tools you have to enter some more data. The more extensive the amount of data you have to enter, the more accurate the calculation tool is usually. If you consult multiple calculation tools, you often get a more reliable picture of the margin to consider than if you only use one calculation tool.
- Keep in mind that calculating your loan yourself is never as accurate as a detailed quote from the relevant lender. Certainly when calculating a mortgage, for example, so many factors can take into account that a simple calculation tool cannot possibly take all those matters into account. Therefore, only consider the outcome of such a calculation tool as an indication and take into account that the actual amounts may turn out higher or lower.
- And, finally, the most important tip that we can give you for calculating your loan yourself: Never, ever, enter too personal data if you are asked to do so on a website. For an indication of the amount that you can borrow and what a loan will cost you, a website does not need to know exactly who you are, so data such as your name and address are not relevant. If you are asked for bank details, you know for sure that you are dealing with a rogue website. In such a case, do not enter any data and report the relevant website to Google and / or other search engines. That said, the vast majority of online calculation tools are completely reliable in that regard and an excellent tool for calculating your loan yourself. If you do not enter certain data, you do not run any risk.