Home Loan Eligibility Calculator
Know the maximum home loan amount you qualify for based on your income and existing commitments.
Frequently Asked Questions
What is FOIR?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your monthly income that goes towards total EMIs. Banks typically cap this at 40–50% for home loans.
What is the home loan eligibility formula?
Max EMI = Monthly Net Income × FOIR − Existing EMIs. Eligible Loan = Max EMI / EMI per Lakh (at given rate & tenure).
Which income is considered for home loan?
Banks typically consider take-home (net) salary. However, some banks use gross salary or add income from rentals, freelancing, or co-applicant income to increase eligibility.
How can I increase my home loan eligibility?
1) Close existing loans to reduce FOIR burden. 2) Add a co-applicant (spouse or parent). 3) Choose a longer tenure (reduces EMI, increases eligibility). 4) Maintain a high CIBIL score (750+).
What CIBIL score is needed for a home loan?
Most banks require a CIBIL score of 700+ for home loan approval. Scores above 750 get better interest rates. Scores below 650 may face rejection.
What is the maximum home loan tenure?
Most banks offer up to 30 years tenure, subject to the loan being repaid before the borrower turns 70 (or retirement age, whichever is earlier).
How much down payment is required for a home loan?
Banks typically finance up to 75–90% of the property value. The remaining 10–25% must be paid as down payment from your own funds.