This home loan eligibility calculator estimates how much a lender may sanction, based on two tests every lender runs: your income and the value of the property. Type your monthly take home pay (add a co applicant's if you will apply together), any EMIs you already pay, the rate, the tenure and the property price. The calculator shows both limits and the lower one, which is what you are likely to get.
Use it before you start visiting sites, so your budget is set by what you can borrow and repay, not by what a seller suggests.
At a glance
- Income testAll EMIs within about 50% of take home pay
- Property test (RBI)90% up to ₹30 lakh, 80% up to ₹75 lakh, 75% above
- Example income₹1 lakh a month, no other EMIs
- By income at 8.5%, 20 years₹57.6 lakh
- On a ₹60 lakh homeCapped at ₹48 lakh (80%)
- Raises eligibilityCo applicant, longer tenure, fewer existing EMIs
Inside the home loan eligibility calculator
- Income limit: lenders allow your total EMIs, old and new, to take up a set share of your net monthly income, called FOIR. The calculator uses 50%. With ₹1,00,000 take home and no other EMIs, the new EMI can be up to ₹50,000. Spread over 20 years at 8.5%, that instalment can carry roughly ₹57.6 lakh.
- Property limit: Under RBI rules the lender can fund at most 90% of a home costing up to ₹30 lakh, 80% between ₹30 lakh and ₹75 lakh, and 75% beyond. On a ₹60 lakh flat, the cap is ₹48 lakh.
- Result: the lower of the two, here ₹48 lakh, with an EMI of about ₹41,656.
Home loan eligibility based on salary: examples
| Take home pay | Existing EMIs | Property value | Likely loan (8.5%) |
|---|---|---|---|
| ₹1,00,000 | None | ₹60 lakh | ₹48 lakh (property cap) |
| ₹1,00,000 | ₹15,000 | ₹60 lakh | ₹40.3 lakh (income cap) |
| ₹60,000 | None | ₹25 lakh | ₹22.5 lakh (90% cap), 25 years |
A ₹15,000 car EMI cuts eligibility by more than ₹17 lakh in the second row. Clearing a small loan before applying can lift your home loan amount far more than it costs.
What lenders look at beyond the formula
- Credit score and history: a strong record can get a higher FOIR and a lower rate.
- Age and retirement: the tenure usually ends by 60 to 70, so older applicants get shorter tenures and smaller loans.
- Job stability: salaried applicants usually need a minimum time in their current job; self employed applicants need two to three years of tax returns.
- Type of income: fixed pay counts fully, variable pay and rent are often counted only in part.
- Property: approved projects and clear titles are easier to fund.
Ways to raise your eligibility
- Add an earning co applicant, such as a spouse or parent.
- Choose a longer tenure, which lowers the EMI per lakh borrowed.
- Clear small loans and credit card dues first.
- Fix errors in your credit report before applying.
- Increase your down payment if the property cap is what limits you.
Be careful with the second point: a longer tenure adds a lot of interest. See the trade off in the home loan EMI calculator.
Home loan affordability: what you should borrow
Eligibility is the most a lender will give; affordability is what you can live with. Many planners suggest keeping the home EMI at 30% to 40% of take home pay so savings, insurance and emergencies still fit. Remember the costs a loan will not fund: down payment, stamp duty, registration, interiors and moving. Those extras often add a sixth to a quarter of the price.
Run the home loan affordability calculator above with a lower EMI share in mind, and check the down payment calculator to see how much cash you need on day one.
After eligibility: next steps
Get a sanction letter from one or two lenders before you sign for a property; it shows the actual amount and rate. Read the key fact statement for fees and the annual percentage rate. Once the loan starts, the prepayment calculator helps you plan to finish early. For other loans, the personal loan eligibility calculator runs the same income test.
Frequently asked questions
How much home loan can I get on a ₹50,000 salary?
With no other EMIs and a 50% income limit, about ₹28.8 lakh over 20 years at 8.5%, subject to the property value cap and the lender's checks.
What is FOIR in a home loan?
Fixed obligations to income ratio: the share of your take home pay that all EMIs together may use. Lenders often allow 40% to 60%.
How much of the property value will the bank fund?
RBI allows 90% when the loan is ₹30 lakh or less, 80% between ₹30 lakh and ₹75 lakh, and three quarters for bigger loans. Stamp duty and registration are usually excluded.
Does a co applicant increase home loan eligibility?
Yes. Lenders add the co applicant's income, which raises the EMI you can carry.
Does my age affect home loan eligibility?
Yes. The loan usually has to end by 60 to 70, so an older applicant gets a shorter tenure and a smaller loan for the same EMI.
Is the eligibility shown here final?
No. It is an estimate. The lender's credit check, property valuation and policy decide the sanctioned amount.