How to use the home loan eligibility calculator
- Enter your net monthly income and any EMIs you already pay.
- Enter the interest rate and the tenure you want; the rate default is an example.
- Add the property value to apply RBI's loan-to-value cap.
- Set your age, the age by which the loan must end, and a co-applicant's income if any.
- Check the table to see which change raises your eligibility the most.
How eligibility is worked out
EMI room = income × FOIR − existing EMIs
Loan = EMI room × ((1 + r)n − 1) ÷ (r × (1 + r)n)
This is the EMI formula solved for the loan, with r the monthly rate and n the months, where n is capped so the loan ends by your retirement age. The final figure is the lower of this and the LTV limit on the property.
Eligibility by income at 8.5% and 50% FOIR
| Net monthly income | 15 years | 20 years | 25 years |
|---|---|---|---|
| ₹40,000 | ₹20,30,994 | ₹23,04,617 | ₹24,83,771 |
| ₹60,000 | ₹30,46,491 | ₹34,56,925 | ₹37,25,657 |
| ₹80,000 | ₹40,61,988 | ₹46,09,234 | ₹49,67,543 |
| ₹1,00,000 | ₹50,77,485 | ₹57,61,542 | ₹62,09,428 |
| ₹1,50,000 | ₹76,16,227 | ₹86,42,313 | ₹93,14,143 |
| ₹2,00,000 | ₹1,01,54,969 | ₹1,15,23,084 | ₹1,24,18,857 |
No other EMIs, borrower aged 30. Lenders may also apply their own minimum income and credit score rules.
RBI's loan-to-value limits in practice
| Property value | Maximum loan | LTV | Your down payment |
|---|---|---|---|
| ₹25,00,000 | ₹22,50,000 | 90.0% | ₹2,50,000 |
| ₹35,00,000 | ₹30,00,000 | 85.7% | ₹5,00,000 |
| ₹50,00,000 | ₹40,00,000 | 80.0% | ₹10,00,000 |
| ₹90,00,000 | ₹72,00,000 | 80.0% | ₹18,00,000 |
| ₹98,00,000 | ₹75,00,000 | 76.5% | ₹23,00,000 |
| ₹1,50,00,000 | ₹1,12,50,000 | 75.0% | ₹37,50,000 |
The cap depends on the size of the loan: 90% up to ₹30 lakh, 80% up to ₹75 lakh and 75% above. Near the ₹30 lakh and ₹75 lakh lines the loan stays at the line, so the LTV is in between. Add stamp duty and registration, which banks do not fund, to the down payment. To see the EMI, use the home loan EMI calculator.
Frequently asked questions
How much home loan can I get on my salary?
Lenders work out how much of your take-home pay can go to EMIs (the FOIR, usually 40–65%), subtract your existing EMIs, and lend what that EMI can repay. With ₹1 lakh a month, a 50% FOIR and 8.5% over 20 years, that is about ₹57,61,542.
What is FOIR?
Fixed obligations to income ratio: the share of your net monthly income that all your EMIs, including the new home loan, may take. Many lenders use about 50%, going higher for larger incomes. Credit card dues and other loans count against it.
What are RBI's LTV limits for home loans?
For individual housing loans, the loan can be at most 90% of the property value for loans up to ₹30 lakh, 80% for loans above ₹30 lakh and up to ₹75 lakh, and 75% for loans above ₹75 lakh. Stamp duty, registration and documentation charges are excluded from the property cost, so you pay them yourself.
How does age affect home loan eligibility?
Most lenders want the loan repaid by about 60 for salaried borrowers and 65–70 for the self-employed. At 45 with a limit of 60, the tenure is capped at 15 years, cutting eligibility on ₹1 lakh a month to ₹50,77,485.
Do existing loans reduce my eligibility?
Yes, rupee for rupee of EMI. A ₹15,000 car-loan EMI on ₹1 lakh a month cuts the home loan you can get from ₹57,61,542 to ₹40,33,079. Closing small loans before applying helps.
How can I increase my home loan eligibility?
Add an earning co-applicant such as a spouse, choose a longer tenure if your age allows, close or prepay other loans, keep a good credit score (750+), and declare all regular income such as rent. A bigger down payment helps when the LTV cap, not your income, is the limit.