Home Loan · Free Tool
Home Loan Eligibility Calculator
Estimate the maximum home loan a lender may offer you, based on your income and the EMIs you already pay.
Your Income & Loan
Lenders typically allow 40–60% of net income towards all EMIs, depending on income level and profile.
Eligible Loan
₹74.9 L
Max EMI
₹65,000
Total Interest
₹81.1 L
How It Adds Up
- Income allowed for EMIs
- ₹75,000
- Less: existing EMIs
- − ₹10,000
- EMI available for new loan
- ₹65,000
- Eligible loan amount
- ₹74,90,005
- Total repayment
- ₹1,56,00,000
50% of ₹1,50,000
At 8.5% for 20 years
- Principal₹74.9 L (48%)
- Interest₹81.1 L (52%)
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How this calculator works
Lenders cap the share of your monthly income that can go towards loan repayments. This share is called FOIR (Fixed Obligation to Income Ratio). The calculator takes your net income, applies the FOIR you choose and subtracts any EMIs you already pay for car, personal or other loans.
What remains is the largest new EMI you can take on. The calculator then works backwards from that EMI, at your chosen rate and tenure, to find the loan amount it can repay.
A longer tenure or a lower rate increases eligibility because the same EMI repays a larger loan. Closing small loans before applying, or adding a co-applicant’s income, has the same effect.
Formula
Max EMI = Income × FOIR − Existing EMIs
Eligible Loan = Max EMI × [(1 + r)ⁿ − 1] / [r × (1 + r)ⁿ]
- r
- monthly interest rate (annual rate ÷ 12 ÷ 100)
- n
- tenure in months
- FOIR
- share of income a lender allows for all EMIs
Assumptions
- Income is your net (take-home) monthly income.
- The FOIR you set applies to the total of existing and new EMIs.
- Interest rate stays constant through the tenure.
- Lenders also look at credit score, age, employment stability and the property’s value, so the final sanctioned amount can differ.
Frequently asked questions
What FOIR do banks use for home loans?
It varies by lender and income level. Many lenders allow roughly 40–60% of net monthly income towards all EMIs, with higher limits for higher incomes. Use 50% as a middle estimate and adjust if your lender quotes a different figure.
Does my credit score affect eligibility?
Yes. This calculator only looks at income-based repayment capacity. A low credit score can reduce the amount sanctioned or increase the rate offered, which in turn lowers eligibility.
How can I increase my home loan eligibility?
Choose a longer tenure, close or prepay existing loans, add an earning co-applicant, or negotiate a lower interest rate. Each of these raises the loan a given EMI can support.
Is the eligible loan the same as the property I can buy?
No. Lenders usually finance only 75–90% of the property value, so you also need a down payment and funds for stamp duty and registration. Use the booking amount and stamp duty calculators to plan the cash you need on top of the loan.
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