Home Loan Eligibility Calculator
Determine your maximum eligible home loan amount based on income, obligations, and bank parameters.
Home Loan Eligibility Calculator – Know Before You Apply
Applying for a home loan without knowing your eligibility is a costly mistake. Rejection impacts your credit score and delays your home purchase. Our calculator helps you determine your maximum loan eligibility before approaching any bank.
We use the standard FOIR (Fixed Obligation to Income Ratio) of 50% — the conservative estimate used by most major Indian lenders including SBI, HDFC, ICICI, and Axis Bank.
Factors That Affect Home Loan Eligibility
- Monthly Net Income: The primary factor. Higher income = higher eligibility.
- Existing EMIs: Car loans, personal loans, or credit card dues reduce your available EMI capacity.
- Interest Rate: Lower rates allow larger loan amounts for the same EMI capacity.
- Loan Tenure: Longer tenures spread repayment, increasing maximum eligible loan.
- Credit Score (CIBIL): 750+ typically required for maximum eligibility.
- Age: Younger applicants get longer tenures; older applicants face restrictions.
Frequently Asked Questions
How is home loan eligibility calculated?
Banks use FOIR (Fixed Obligation to Income Ratio), typically 40-55% of monthly net income. The maximum EMI you can afford determines the maximum loan amount at a given rate and tenure.
What is FOIR?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your net monthly income that can go toward all fixed loan obligations. Most banks use 40–55%. Our calculator uses a conservative 50%.
What is LTV ratio?
LTV (Loan-to-Value) ratio is the percentage of a property's value that a bank will lend. RBI mandates maximum LTV of 90% for loans up to ₹30 lakh, 80% for ₹30–75 lakh, and 75% above ₹75 lakh.
Does credit score affect eligibility?
Yes. A CIBIL score above 750 typically gets you the best rates and higher eligibility. Scores below 650 may result in rejection or higher interest rates that reduce your eligible loan amount.
What documents are needed for a home loan?
Typically: PAN card, Aadhaar, salary slips (3-6 months), bank statements (6-12 months), Form 16, property documents, and employer letter. Self-employed need ITR filings for 2-3 years.
Can joint home loans increase eligibility?
Yes. Adding a co-applicant (spouse, parent) whose income is considered increases the combined eligible EMI capacity, substantially raising the maximum loan amount.