Home Loan Eligibility Calculator
Find out the maximum home loan you can get based on your salary and existing financial obligations. Uses the standard 50% FOIR rule used by Indian banks.
Your Financial Profile
₹57.62 L
Max Loan Eligibility
₹50,000
Max EMI You Can Pay
Eligibility Summary
EMI Capacity Split
Check Your Real Eligibility with Banks
Get pre-approved offers from 20+ banks without affecting your CIBIL score.
What is Home Loan Eligibility?
Home loan eligibility is the maximum loan amount a bank or NBFC is willing to lend you based on your income, existing financial obligations, credit history, and age. Indian banks use the FOIR (Fixed Obligation to Income Ratio) method as the primary criterion: they limit total EMI outgo (including the proposed home loan EMI) to 40–50% of your net monthly income. A bank first determines your maximum allowable EMI, subtracts your existing EMIs, and then calculates the loan amount for which the remaining EMI capacity is sufficient. This tool uses the standard 50% FOIR and 8.5% interest rate (adjustable) to give you an indicative figure. Actual eligibility will also depend on your CIBIL score, employment type, age, and the specific bank's internal credit policies.
How to Use the RupeeMath Home Loan Eligibility Calculator
- 1.Monthly Income: Enter your net take-home salary (after tax and PF deductions). For joint applications, enter the combined income of all applicants.
- 2.Existing EMIs: Enter the total of all ongoing EMIs — car loan, personal loan, credit card dues, etc. This directly reduces your available EMI capacity.
- 3.Interest Rate: The default is 8.5% (current average). Adjust based on the rate quoted by your bank or lender.
- 4.Tenure: Select your preferred loan tenure (10–30 years). Longer tenures increase eligibility by reducing the required monthly EMI.
- 5.View result: See your Maximum Loan Eligibility in lakhs and the EMI you would pay on that amount. Use this as a benchmark before approaching banks.
Tips to Improve Your Home Loan Eligibility
- Clear small loans first: Paying off a personal loan or car loan before applying reduces your existing EMIs, directly boosting the new loan amount you qualify for.
- Add a co-applicant: Including your spouse or parent as a co-borrower combines both incomes, often increasing eligibility by 40–80%.
- Maintain a CIBIL score above 750: A higher credit score unlocks lower interest rates and improves the bank's willingness to sanction a larger loan.
- Choose a longer tenure: Extending from 15 to 20 years can increase your eligible loan amount by 10–15%, though total interest paid increases significantly.
- Show all income: Bonus, rental income, and freelance income — if supported by ITR or bank statements — can be included to increase the assessed income.