Your home loan eligibility determines exactly how much a bank will lend you — based on your net income, existing EMI obligations, age, and the lender's FOIR (Fixed Obligation to Income Ratio). With 'home loan eligibility calculator' trending at +50% today, this tool answers the most critical question before house hunting: what is the maximum home loan I qualify for? Enter your details and know instantly.
What Is a Home Loan Eligibility Calculator?
A home loan eligibility calculator estimates the maximum home loan a lender will sanction based on your financial profile.
It applies the lender's FOIR (typically 40–50% of net monthly income), subtracts existing EMIs, and back-calculates the maximum loan amount at the current interest rate and chosen tenure.
Use it before beginning house hunting to set a realistic property budget and avoid disappointment after finding a property.
How Is Home Loan Eligibility Calculated?
Step 1: Maximum permissible EMI = Net monthly income × FOIR (50%) − Existing EMIs.Step 2: Maximum loan = Max EMI × [(1+r)^n − 1] / [r × (1+r)^n], where r is monthly rate and n is tenure in months.Example: Net income ₹1,00,000 | Existing EMIs ₹15,000 | Rate 8.75% | Tenure 20 years.
Max EMI = ₹50,000 − ₹15,000 = ₹35,000.Maximum loan at 8.75% for 20 years ≈ ₹35,000 × 111.1 = ₹38.89 lakh.Home Loan Eligibility by Income — Quick Reference
Approximate maximum home loan at 8.75% for 20 years, FOIR 50%, no existing EMIs: Net salary ₹30,000/month: Max loan ≈ ₹16.7 lakh Net salary ₹50,000/month: Max loan ≈ ₹27.8 lakh Net salary ₹75,000/month: Max loan ≈ ₹41.7 lakh Net salary ₹1,00,000/month: Max loan ≈ ₹55.6 lakh Net salary ₹1,50,000/month: Max loan ≈ ₹83.3 lakh Net salary ₹2,00,000/month: Max loan ≈ ₹1.11 crore With co-applicant (combined income): multiply by combined income ratio.
Each existing EMI of ₹10,000 reduces eligible loan by approximately ₹5.6 lakh at these rates.
Key Factors That Determine Home Loan Eligibility
- Net monthly income: banks use take-home after PF, TDS, professional tax — not gross CTC.
- Existing EMIs: each ₹10,000 EMI reduces your eligible new home loan EMI capacity by ₹10,000.
- FOIR: 40–50% for salaried, 50–55% for self-employed with documented income.
- Age: maximum tenure = retirement age (60–65) minus current age.
- At 45, maximum tenure is 15 years — which reduces eligible amount vs a 30-year-old getting 30-year tenure.
- CIBIL score: 750+ gets best rates and full eligibility; below 700 often means rejection.
How to Maximise Home Loan Eligibility
Add a co-applicant: joint loans combine incomes, potentially doubling eligibility.
Prepay smaller loans before applying: clearing a ₹5,000/month personal loan EMI increases home loan eligibility by ~₹2.8 lakh.
Choose longer tenure: 30 years vs 20 years reduces EMI by ~25%, qualifying for a proportionally higher loan.
Improve CIBIL score: 750+ vs 700 can mean lower rate + higher eligibility simultaneously.
Apply with your primary banker: existing banking relationships with salary accounts at SBI, HDFC, ICICI often result in 0.1–0.25% rate advantage and faster processing.
LTV Ratio — How Much Will Banks Finance?
RBI-mandated maximum LTV (Loan-to-Value) ratios: Property value up to ₹30 lakh: max 90% LTV.
₹30–75 lakh: max 80% LTV.
Above ₹75 lakh: max 75% LTV.
This means: For a ₹60 lakh property — max loan = ₹48 lakh (80%).
For a ₹1 crore property — max loan = ₹75 lakh (75%).
Down payment minimum = property value − max loan.
Your eligibility is the lower of: (a) income-based maximum from FOIR calculation, and (b) LTV-based maximum from property value.
Frequently Asked Questions
How much home loan can I get on ₹50,000 salary?
At 8.75% for 20 years with no existing EMIs and 50% FOIR: Max EMI = ₹25,000. Maximum loan ≈ ₹25,000 × 111.1 = ₹27.78 lakh. With a co-applicant earning ₹30,000 more (combined ₹80,000): Max EMI = ₹40,000. Maximum loan ≈ ₹44.44 lakh. These are approximations — use the calculator above for your exact income and EMI situation.
What is FOIR in home loans?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your net monthly income that goes toward all loan EMIs (existing + proposed home loan). Banks cap FOIR at 40–50% for salaried applicants. If net income is ₹1L and FOIR limit is 50%, maximum total EMI obligation = ₹50,000. If existing EMIs are ₹15,000, maximum new home loan EMI = ₹35,000.
Does CIBIL score affect home loan eligibility?
Yes, significantly. A score of 750+ gets the best interest rate and full eligibility. 700–749: approved but at 0.5–1% higher rate (reduces eligible loan amount slightly). Below 650: most banks reject outright. A 0.5% lower rate on a ₹50 lakh, 20-year loan saves ₹3.5+ lakh in total interest and slightly increases eligibility.
Can I get a home loan if I have existing EMIs?
Yes, but each existing EMI reduces your eligible home loan EMI capacity by the same amount. Existing EMIs of ₹20,000/month on a ₹1L net salary leave only ₹30,000 for the home loan EMI (at 50% FOIR), qualifying you for approximately ₹16.7 lakh less in home loan vs if you had no EMIs. Clearing existing personal or car loans before applying increases home loan eligibility significantly.
What is the maximum home loan tenure in India?
Up to 30 years, capped at the borrower's retirement age (typically 60 for salaried, 65–70 for self-employed). A 45-year-old salaried applicant can get a maximum 15-year tenure. Adding a younger co-applicant extends the permissible tenure — and therefore the maximum eligible loan amount.
How does a joint home loan increase eligibility?
Joint home loans combine both applicants' incomes for FOIR calculation. A couple earning ₹80,000 + ₹60,000 = ₹1,40,000 combined qualifies for a home loan EMI of up to ₹70,000 (50% FOIR), vs ₹40,000 on the primary applicant's income alone — a 75% increase in eligible loan amount. Additionally, both co-borrowers can independently claim Section 80C and Section 24(b) deductions.