worldofcalcsHome Loan Eligibility Calculator
Banks look at two limits: how much EMI your income can carry, and how much of the property's value they are allowed to lend. This calculator checks both.
RBI rules would allow up to ₹64,00,000 on this property, but your income limits the loan. To borrow the full amount you would need about ₹1,17,064 a month in take-home pay.
Plan the repayment: Loan EMI · Loan Prepayment
How banks decide how much home loan you get
Your home loan amount is the lower of two limits. The first is your income: banks cap all your EMIs, including the new home loan, at a share of your take-home pay called FOIR, usually 40–60%, and lend whatever that EMI can repay over the tenure. The second is the property: RBI rules let banks lend at most 90% of the property value for loans up to ₹30 lakh, 80% up to ₹75 lakh and 75% above that. Your age, credit score and job stability also matter.
How eligibility is calculated
Max EMI = Take-home pay × FOIR − existing EMIs. The loan is the amount that EMI repays over n months at the monthly rate r (annual rate ÷ 12). The tenure is capped so the loan ends by your retirement age. If you enter a property price, the loan is also capped by RBI's loan-to-value limits, and the rest is your down payment.
How to improve your eligibility
- Close small loans or clear card balances before applying. Every rupee of existing EMI reduces the home loan you can get.
- Add an earning co-applicant, such as your spouse, to combine incomes. Joint owners can each claim tax benefits in the old regime.
- A longer tenure lowers the EMI and raises eligibility, but costs much more interest. You can prepay later: banks can't charge prepayment penalties on floating-rate home loans to individuals.
- Keep your credit score above about 750; it affects both approval and the rate you are offered.
- Banks usually want the loan repaid by 60 (some by 65–70), so applying younger allows a longer tenure.
- Budget for more than the down payment: stamp duty, registration and the processing fee are usually paid by you.
- Most home loans are floating and linked to the RBI repo rate, so your EMI or tenure changes when the repo rate moves.
Worked example: ₹1 lakh take-home pay
- Take-home pay of ₹1,00,000 a month, with a ₹5,000 car loan EMI
- At a 50% FOIR, all EMIs together can be up to ₹50,000, which leaves ₹45,000 for the home loan
- At 8% for 20 years, a ₹45,000 EMI repays a loan of ₹53,79,943
- For an ₹80,00,000 flat, RBI rules allow up to ₹64,00,000 (80%), so your income is the limit and you need a down payment of ₹26,20,057
- Paying off the car loan first raises your eligibility to ₹59,77,715
Home loan you can get by take-home pay
With no other EMIs, a 50% FOIR and an 8% interest rate.
| Monthly take-home pay | Max EMI | Loan over 20 years | Loan over 30 years |
|---|---|---|---|
| ₹50,000 | ₹25,000 | ₹29,88,857 | ₹34,07,087 |
| ₹75,000 | ₹37,500 | ₹44,83,286 | ₹51,10,631 |
| ₹1,00,000 | ₹50,000 | ₹59,77,715 | ₹68,14,175 |
| ₹1,50,000 | ₹75,000 | ₹89,66,572 | ₹1,02,21,262 |
| ₹2,00,000 | ₹1,00,000 | ₹1,19,55,429 | ₹1,36,28,349 |
Actual offers depend on the bank, your credit score and the property.