Home Loan Eligibility Calculator – How Much Loan Can I Get?
Check the maximum home loan you can get based on your income, existing EMIs and tenure.
Home Loan Eligibility Calculator
What is a home loan eligibility calculator?
Before you shortlist a home, it helps to know how much a bank is likely to lend you. Lenders mainly look at your repayment capacity – how much EMI you can comfortably pay from your monthly income after existing obligations. Our home loan eligibility calculator uses the same FOIR method banks use to estimate your maximum EMI and the maximum loan that EMI can support.
What is FOIR?
FOIR (Fixed Obligation to Income Ratio) is the share of your net monthly income that can go towards all loan EMIs. Most banks allow 40–60%, with around 50% common for salaried borrowers. Higher incomes may get a higher FOIR.
Eligibility formula
- Max EMI = Net monthly income × FOIR − Existing EMIs
- Max loan = Max EMI × [(1 + i)^n − 1] / [i × (1 + i)^n], where i is the monthly interest rate and n the tenure in months.
Example: net income ₹1,00,000, existing EMIs ₹10,000, FOIR 50%. Max EMI = 50,000 − 10,000 = ₹40,000. At 8.5% for 20 years, that supports a loan of about ₹46,09,234.
How to use the calculator
- Enter your net (take-home) monthly income. Co-applicant income can be added.
- Enter all current EMIs – car loan, personal loan, credit card EMIs.
- Set FOIR (50% by default), interest rate and tenure.
- Read your maximum EMI and eligible loan amount.
Eligibility by income
The table assumes 50% FOIR and 8.5% interest, comparing 20- and 30-year tenures.
| Net monthly income | Existing EMI → Max new EMI | Loan (20 years) | Loan (30 years) |
|---|---|---|---|
| ₹50,000 | ₹25,000 | ₹28,80,771 | ₹32,51,341 |
| ₹75,000 | ₹32,500 | ₹37,45,002 | ₹42,26,743 |
| ₹1,00,000 | ₹40,000 | ₹46,09,234 | ₹52,02,146 |
| ₹1,50,000 | ₹60,000 | ₹69,13,850 | ₹78,03,219 |
| ₹2,00,000 | ₹80,000 | ₹92,18,467 | ₹1,04,04,291 |
Tenure and eligibility
A longer tenure lowers the EMI per lakh, so the same income qualifies for a bigger loan. However, total interest rises sharply. Lenders also cap tenure so the loan ends by age 60–70.
Other factors banks consider
- CIBIL score: 750+ gets the best rates and smoothest approvals.
- Loan-to-value (LTV): RBI caps loans at 90% of property value up to ₹30 lakh, 80% up to ₹75 lakh and 75% above that, so you need a down payment.
- Age and job stability: employer category and years of service matter.
- Property: approved projects and clear title are essential.
How to improve your eligibility
Close small loans before applying, add an earning co-applicant, choose a longer tenure, and keep credit card use low. Once you know your number, use the home loan EMI calculator to plan the EMI, the rent vs buy calculator to test the decision, and the prepayment calculator to cut interest later. More tools at EMITotal.
Why FOIR matters for you, not just the bank
The FOIR limit is a ceiling, not a target. Borrowing the maximum amount leaves little room for rising expenses, school fees, medical needs or a temporary income drop. Many financial planners suggest keeping total EMIs within 35–40% of take-home pay. Use the FOIR slider to see what a more conservative ratio means for your loan amount, then decide the home budget around that number. Remember to add the down payment, stamp duty, registration, interiors and moving costs to your total budget, because the loan covers only part of the purchase price. Self-employed borrowers should note that banks may use an average of the last two or three years of income from tax returns, which can lower eligibility.
Interest rate also changes eligibility: a 1% higher rate can cut the eligible loan by several lakh rupees on the same income, so recalculate when rates move.
Frequently asked questions
How much home loan can I get on a ₹50,000 salary?
With 50% FOIR, no existing EMIs, 8.5% interest and 20 years, the maximum EMI is ₹25,000, supporting a loan of about ₹28,80,771.
Does FOIR include existing EMIs?
Yes. FOIR covers all fixed obligations. Existing EMIs are deducted from the FOIR limit to find the EMI available for the new home loan.
Is gross or net income used?
Most lenders use net take-home salary for salaried applicants and average income from ITRs for self-employed applicants.
Is the calculator result final?
No. It is an estimate. Actual eligibility depends on credit score, age, employer, property value and lender policy.