Software Requirements Specification (SRS) for Loan Affordability Calculator
Rashmi Sukhdev
Software Requirements Specification (SRS) for Loan Affordability Calculator
Introduction
Purpose:
The purpose of this document is to define the requirements for the development of a Loan Affordability Calculator. This web-based application aims to help users determine the loan amount they can afford based on income, expenses, and the debt-to-income ratio.
Scope:
The Loan Affordability Calculator will provide users with an interface to input details such as income, expenses, and existing debts. The application will calculate and display the maximum loan amount a user can afford based on their financial information.
System Overview
System Description:
The system will be a client-server application. Users will access the Loan Affordability Calculator through a web browser. The server will handle the logic for loan affordability calculations.
System Architecture:
The application will follow a three-tier architecture: presentation layer (client-side browser), application layer (server-side processing), and data layer (storage and retrieval of data).
Functional Requirements
Use Cases:
Determine Loan Affordability:
Users can input details such as monthly income, monthly expenses, and existing debts.
The system will calculate and display the maximum loan amount the user can afford based on the debt-to-income ratio.
Functional Requirements:
Input:
The system shall allow users to enter the following details:
Monthly Income (Decimal)
Monthly Expenses (Decimal)
Existing Debts (Decimal)
Calculation:
The system shall calculate the maximum loan amount based on the debt-to-income ratio and user-input details.
Output:
The system shall display the calculated maximum loan amount to the user.
External Interface Requirements
User Interfaces:
The user interface shall consist of input fields for monthly income, monthly expenses, and existing debts, along with a “Calculate” button.
The calculated maximum loan amount shall be displayed prominently.
Hardware Interfaces:
The system should be compatible with standard computing hardware.
Software Interfaces:
The application will be developed using HTML, CSS, and JavaScript for the frontend.
The backend can be implemented using a server-side framework (e.g., Node.js, Django) with a database for data storage.
Communication Interfaces:
The application will communicate with the server for loan affordability calculations.
Performance Requirements
Response Time:
The system should provide a response time of under 3 seconds for a typical user input.
Throughput:
The application should handle at least 50 simultaneous users.
System Constraints
Regulatory Requirements:
The application should comply with relevant financial regulations.
Hardware Limitations:
The system should be compatible with devices supporting standard web browsers.
Security Requirements
Authentication:
User authentication may be implemented for personalized features.
Data Protection:
User data, if stored, should be securely protected.
Quality Attributes
Reliability:
The application should provide accurate loan affordability calculations based on the entered details.
Maintainability:
The code should be well-documented for ease of maintenance.
Usability:
The user interface should be intuitive, requiring minimal guidance.
Testing Requirements
Test Cases:
Test cases should cover various scenarios with different monthly incomes, expenses, and existing debts to ensure accurate loan affordability calculations.
UserID (Foreign Key, if user accounts are implemented)
MonthlyIncome (Decimal)
MonthlyExpenses (Decimal)
ExistingDebts (Decimal)
MaxLoanAmount (Decimal)
CalculationDate (DateTime)
Conclusion
This SRS document outlines the requirements for the Loan Affordability Calculator. It serves as a guide for the development team and ensures that the application meets the specified criteria. Review and approval by relevant stakeholders are essential before proceeding with the development phase.