Home Loan Eligibility Calculator – Check Your Housing Loan Eligibility Online
Buying a home becomes far easier when you know exactly how much the bank is likely to lend. This Home Loan Eligibility Calculator gives you a straight estimate based on your income, existing EMIs, expected interest rate, and repayment period. Instead of guessing your numbers or waiting for the bank to respond, you get a clear picture of your borrowing power right away.
Put in your numbers, adjust the sliders, and the calculator shows you the loan amount you can target along with an EMI you can actually manage. It gives you a clear sense of your home loan eligibility before you begin checking properties.
How to Use the Home Loan Eligibility Calculator
All you do is enter your income, mention any EMIs you’re servicing, choose the repayment period, and match the interest rate to current bank trends. Once you enter the numbers, the tool works out your loan eligibility and EMI. It gives you a realistic frame before you shortlist homes.
Key Factors That Affect Your Home Loan Eligibility
Before signing off on a housing loan, banks go through several numbers. Here are the core ones:
- Monthly Income: Your salary or business income decides how much room you have for EMI deductions.
- Existing EMIs: Existing EMIs shrink your available income. When those payments are high, your home loan eligibility drops.
- Loan Tenure: A longer tenure spreads the EMI and boosts your borrowing amount. It’s one of the easiest ways to increase eligibility.
- Interest Rate: A higher interest rate raises the EMI. When EMI rises, eligibility automatically drops.
- FOIR: Banks usually allow around half of your income to be used for EMIs. If your fixed obligations cross that limit, your eligibility drops sharply.
Home Loan Eligibility Formula
Most lenders follow a simple FOIR-based calculation. A shortened version looks like this:
Eligibility = (Monthly Income × 0.50) – Existing EMIs
The EMI that remains is then converted into a loan amount based on tenure and interest rate.
What You Get From the Home Loan Eligibility Calculator
- An estimate of your eligible home loan amount
- The EMI you can comfortably manage
- How your existing EMIs influence your final number
- A practical borrowing bracket to plan your property purchase
It gives you a realistic range before you approach lenders.
- Access real listings ,not ads or fake inquiries.
- Find apartments, houses, and investment properties with ease.
- Connect directly with verified agents, owners and buyers.
- Handle everythig from discovery to deal - all in one trusted space.
Calculate Home Loan Eligibility
Your Home Loan Eligibility
₹31,68,848
Your Home Loan EMI will be
₹27,500/monthly
Home Loan Eligibility by Banks in India
Banks have their own rules for salary requirements, tenure, and interest. Here’s a quick comparison:
| Bank | Minimum Salary | Max Tenure | Interest Rate |
|---|---|---|---|
| HDFC | ₹25,000 | 30 years | 8.5% |
| ICICI | ₹25,000 | 30 years | 8.4% |
| SBI | ₹20,000 | 30 years | 8.2% |
*Rates and limits can shift with the market, yet most banks follow a similar structure.
Home Loan Eligibility Criteria in India
Different banks follow different eligibility lines, but these factors come up everywhere:
- Age Window: Most banks accept borrowers from about 21 years onward, with repayment planned before retirement.
- Income: Lenders first check whether your income is consistent and in most cases, they want to see at least ₹20,000–₹25,000 coming in each month.
- CIBIL Score: Strong credit history typically results in smoother processing and a lower rate.
- Job or Business Stability: Banks prefer predictable income and consistency in employment or business history.
- FOIR Limit: Typically capped at 40%–50% of income. If your existing commitments eat up too much, your loan amount falls.
- Co-Applicant: Adding a working co-applicant can raise your eligibility quite a bit.
