Home Loan Eligibility Calculator

Home Loan Eligibility Calculator India

The Home Loan Eligibility Calculator helps you estimate the maximum loan amount you can get from Indian banks based on your income, existing EMIs, interest rate, and tenure. Banks primarily use FOIR (Fixed Obligation to Income Ratio) to determine your eligibility.

How Home Loan Eligibility is Calculated

Banks typically allow up to 50% of your monthly income toward total EMIs.

Step 1: Calculate Maximum EMI Allowed

Max EMI = (Monthly Income × 50%) − Existing EMIs

Step 2: Convert EMI to Loan Amount using EMI formula:

Loan Amount = EMI × [(1+r)^n − 1] / [r(1+r)^n]

Where:

• r = Monthly interest rate
• n = Loan tenure in months

Example

If your income is ₹1,00,000 and existing EMI is ₹20,000:

• 50% income = ₹50,000
• Max new EMI = ₹30,000
• Eligible loan depends on interest rate & tenure

Factors Affecting Eligibility

• Credit Score (CIBIL)
• Age
• Employment type
• Existing debts
• Property type
• Bank policies

Tips to Increase Home Loan Eligibility

• Close small loans
• Add co-applicant
• Increase tenure
• Improve credit score
• Increase down payment

Disclaimer

This calculator provides estimated eligibility based on general Indian lending norms. Final approval depends on bank policies and credit assessment.