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Home Loan Eligibility Calculator

Find out the maximum home loan amount you can get based on your income and obligations.

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Car loan, personal loan, other EMIs, etc.

Recommended max tenure: 35 years

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Typical range: 50–60%

Enter your income and loan preferences to see your eligibility

How Home Loan Eligibility is Calculated

Banks in India primarily use the FOIR (Fixed Obligation to Income Ratio) method to decide your home loan eligibility. This tool uses the same logic that most banks and housing finance companies follow.

The Formula Banks Use

  1. They calculate your maximum allowable EMI = (Gross Monthly Income − Existing EMIs) × FOIR %
  2. They then work backwards from this EMI using the current interest rate and desired tenure to find the maximum loan amount.

What Affects Your Eligibility?

  • Income: Higher stable income = higher eligibility
  • Existing EMIs: Car loans, personal loans, credit card payments reduce your eligibility
  • Age: Banks usually require you to repay before retirement (often age 65–70). Younger borrowers can get longer tenures and higher eligibility.
  • FOIR Policy: Most banks use 50–60%. Some go up to 65–70% for strong profiles
  • Credit Score: This calculator gives an estimate. Actual approval also depends on your CIBIL score

How to Use This Tool Effectively

  • Enter your actual gross monthly income (before deductions)
  • Include all existing EMIs accurately
  • Try different tenures — longer tenure usually means higher eligibility
  • Use this along with our EMI Calculator to plan your budget

Frequently Asked Questions

How is home loan eligibility calculated in India?

Banks typically use FOIR (Fixed Obligation to Income Ratio). Your total EMIs (including the new home loan) should not exceed 50-60% of your gross monthly income.

What is a good FOIR percentage?

Most banks prefer FOIR between 50% to 60%. Some lenders go up to 65-70% for high-income applicants with good credit scores.

Does age affect my home loan eligibility?

Yes. Banks usually allow maximum tenure such that your age at loan maturity does not exceed 60-70 years. Younger applicants can get longer tenures.

How is this different from the EMI Calculator?

The EMI Calculator tells you the monthly payment for a known loan amount. This tool works backwards — it tells you the maximum loan amount you can get based on your income and obligations.

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