Home Loan Eligibility Calculator
Enter your net monthly income, existing EMIs, interest rate and tenure to estimate the maximum home loan you're likely to be eligible for, based on the FOIR method lenders use.
How lenders decide your home loan eligibility
Banks and housing-finance companies don't lend against your dreams — they lend against your repayment capacity. The main gauge is the FOIR (Fixed Obligation to Income Ratio): the share of your monthly income that can go toward all EMIs combined. Most lenders cap total EMIs at 40–55% of net income, with higher earners allowed the upper end.
The eligibility formula
The calculator works backwards from the EMI you can afford:
- Affordable EMI = (net monthly income × FOIR) − your existing EMIs.
- That EMI is then converted into a loan amount using the standard reducing-balance formula for your rate and tenure.
| Net monthly income | Approx. eligibility (9%, 20 yrs, 50% FOIR) |
|---|---|
| ₹50,000 | ≈ ₹27.8 lakh |
| ₹1,00,000 | ≈ ₹55.6 lakh |
| ₹1,50,000 | ≈ ₹83.4 lakh |
| ₹2,00,000 | ≈ ₹1.11 crore |
What raises or lowers your eligibility
- Longer tenure → lower EMI → higher eligibility (but more total interest — check it on the home loan calculator).
- Lower interest rate → higher eligibility for the same EMI.
- Existing EMIs (car, personal, credit-card) directly reduce how much you can borrow — clearing a personal loan before applying helps.
- Co-applicant — adding a spouse's income can substantially raise the sanctioned amount.
- Credit score — a score above 750 improves both approval odds and the rate you're offered.
Eligibility is not the whole story
Lenders also apply a Loan-to-Value (LTV) cap, funding only about 75–90% of the property's value — so you need a down payment of 10–25%. Whatever you're eligible for, borrow what you can comfortably repay: once you know your target loan, model the EMI and full schedule on the EMI calculator before committing. For a step-by-step walk-through with worked salary examples, read our guide: How much home loan can you get on your salary?