Home Loan Eligibility Calculator
Check how much home loan you can get based on your income & profile
Home Loan Eligibility Calculator
Check how much home loan you can get
Max age: 60 years | Stable income
LTV: Up to 90% for properties up to ₹30L, 80% for ₹30-75L, 75% above ₹75L
Your Home Loan Eligibility
About Home Loan Eligibility Calculator
The Home Loan Eligibility Calculator helps you determine how much home loan you can qualify for based on your financial profile. Whether you're a salaried professional or self-employed, this calculator gives you a clear picture of your borrowing capacity.
Our calculator uses the FOIR (Fixed Obligation to Income Ratio) method, which is the industry standard used by all major banks and financial institutions. It considers your monthly income, existing obligations, age, employment type, and property value to provide accurate eligibility results.
Knowing your home loan eligibility helps you plan your dream home purchase better. It gives you confidence when negotiating with builders and lenders, and helps you avoid disappointment during the loan approval process.
How to Use This Home Loan Eligibility Calculator
Step 1: Select your employment type - Salaried or Self-Employed.
Step 2: Enter your monthly income (use preset buttons for quick input).
Step 3: Optionally add a co-applicant (spouse/parent) to increase eligibility.
Step 4: Enter your existing monthly EMI (if any).
Step 5: Enter your age to check tenure availability.
Step 6: Enter interest rate and loan tenure.
Step 7: Optionally enter property value for LTV check.
Step 8: Click "Check Eligibility" to see your results.
Key Factors That Affect Home Loan Eligibility
💼 Income & FOIR
- • Monthly income determines capacity
- • FOIR: 40-50% of income allowed for EMI
- • Higher income = Higher eligibility
- • Co-applicant income adds to capacity
📊 Existing Obligations
- • Existing EMIs reduce eligibility
- • Credit card dues impact FOIR
- • Clear debts for better eligibility
- • Lower obligations = Higher loan
🏠 Property & LTV
- • LTV: Up to 90% of property value
- • Higher property value = Higher loan
- • Property location and type matter
- • Valuation by bank required
🎯 Age & Tenure
- • Max age: 60-65 years
- • Tenure limited by retirement age
- • Younger age = Longer tenure
- • Higher tenure = Higher eligibility
⭐ Credit Score
- • CIBIL score 750+ = Best rates
- • Higher score = Better eligibility
- • Score below 700 may reduce eligibility
- • Regular monitoring recommended
💳 Employment Type
- • Salaried: Stable income, lower risk
- • Self-employed: Business income, higher risk
- • Employment stability matters
- • 2+ years experience preferred
What is FOIR in Home Loan Eligibility?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your monthly income that lenders allow for EMI payments. This is the most important factor in determining your home loan eligibility.
Example Calculation
Monthly Income: ₹50,000
FOIR: 45%
Max EMI Allowed: ₹22,500
Existing EMI: ₹5,000
Available for Home Loan: ₹17,500
FOIR Slabs
- • Income ₹1,00,000+ → FOIR 50%
- • Income ₹75,000-99,999 → FOIR 48%
- • Income ₹50,000-74,999 → FOIR 45%
- • Income ₹30,000-49,999 → FOIR 42%
- • Income Below ₹30,000 → FOIR 40%
* Higher income slabs get higher FOIR as they have more disposable income
Home Loan Eligibility Comparison
| Monthly Income | Eligible Amount (20Y, 9%) | Monthly EMI | EMI to Income Ratio |
|---|---|---|---|
| ₹30,000 | ₹22.5 Lakhs | ₹20,243 | 67.5% |
| ₹50,000 | ₹45 Lakhs | ₹40,487 | 81.0% |
| ₹75,000 | ₹72 Lakhs | ₹64,780 | 86.4% |
| ₹1,00,000 | ₹1.2 Crore | ₹1,07,974 | 108.0% |
| ₹1,50,000 | ₹1.8 Crore | ₹1,61,961 | 108.0% |
* Based on 9% interest rate and 20-year tenure. Income is assumed with no existing EMI.
Tips to Increase Your Home Loan Eligibility
- 💡Add a Co-Applicant: Adding a spouse or parent as co-applicant can increase eligibility by 30-50%. Combined income is considered.
- 💡Clear Existing Debts: Pay off personal loans, car loans, and credit card dues before applying for a home loan to reduce your EMI burden.
- 💡Improve Credit Score: A CIBIL score of 750+ not only gets you better rates but also improves your eligibility with most lenders.
- 💡Choose Longer Tenure: Longer tenure reduces EMI, allowing you to borrow more within your FOIR limit. However, total interest will be higher.
- 💡Increase Down Payment: A higher down payment reduces the loan amount needed, making approval easier and improving your eligibility.
- 💡Show Additional Income: Include rental income, freelance income, or investment income to increase your total monthly income.
Common Mistakes to Avoid When Checking Home Loan Eligibility
- ⚠️Not Including All Income Sources: Always include all income sources (salary, bonuses, rental income, investments) to get accurate eligibility.
- ⚠️Ignoring Existing Obligations: Don't hide existing EMIs or credit card dues. They significantly affect your eligibility.
- ⚠️Not Checking Credit Score: Check your CIBIL score before applying. A low score can reduce eligibility or lead to rejection.
- ⚠️Multiple Loan Applications: Avoid applying to multiple lenders simultaneously. Each application hits your credit score.
- ⚠️Overlooking Property Valuation: Bank valuation may be lower than market price. Get a professional valuation done.