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📘 About the Home Loan Eligibility
Your home loan eligibility is the largest loan a bank will give you based on your income, existing EMIs, age, interest rate and tenure. Indian banks mostly use FOIR — the Fixed Obligation to Income Ratio — which caps all your EMIs (old + new) at about 40–60% of your monthly income.
This calculator works out the EMI you can afford under your FOIR, turns it into a loan amount for your rate and tenure, and adds your down payment to show the home price you can buy. It also applies the RBI loan-to-value limits (banks lend at most 75–90% of the property value) and shows the more conservative 28/36 rule for comparison.
Enter your gross annual income, current EMIs (car loan, personal loan, credit card), down payment, interest rate and tenure.
🧮 Formula
✏️ Worked examples
₹12 lakh salary, no EMIs, ₹10 lakh down payment
You get| Home loan eligibility | ₹40 lakh |
| Maximum EMI you can pay (FOIR 50%) | ₹50,000 a month |
| EMI on this loan | ₹34,713 for 20 years at 8.5% |
| Home you can buy (loan + down payment) | ₹50 lakh |
| Total interest over the loan | ₹43.31 lakh |
| Limited by | Your down payment (RBI allows banks to lend only 75–90% of the home value) |
| Conservative 28/36 rule loan | ₹27.9 lakh |
Eligible loan ₹40 lakh; EMI ₹34,713 for 20 years at 8.5%; home price ₹50 lakh.
Try this example →₹18 lakh salary, ₹10,000 car EMI, ₹15 lakh down payment
You get| Home loan eligibility | ₹60 lakh |
| Maximum EMI you can pay (FOIR 50%) | ₹65,000 a month |
| EMI on this loan | ₹48,314 for 25 years at 8.5% |
| Home you can buy (loan + down payment) | ₹75 lakh |
| Total interest over the loan | ₹84.94 lakh |
| Limited by | Your down payment (RBI allows banks to lend only 75–90% of the home value) |
| Conservative 28/36 rule loan | ₹44.74 lakh |
Eligible loan ₹60 lakh; home price ₹75 lakh.
Try this example →₹6 lakh salary, 30-year tenure
You get| Home loan eligibility | ₹27.96 lakh |
| Maximum EMI you can pay (FOIR 45%) | ₹22,500 a month |
| EMI on this loan | ₹22,500 for 30 years at 9% |
| Home you can buy (loan + down payment) | ₹32.96 lakh |
| Total interest over the loan | ₹53.04 lakh |
| Conservative 28/36 rule loan | ₹15.3 lakh |
Eligible loan ₹27.96 lakh.
Try this example →🧭 How to use this calculator
What you enter
- Annual Income (₹)
- Existing Monthly EMIs (₹)
- Down Payment Available (₹)
- Home Loan Interest Rate (%)
- Loan Tenure (yrs)
- FOIR (EMI limit as % of income) (%)
- Property Tax + Insurance Rate (% of home value/yr)
What you get
- Home Loan Eligibility
- Maximum EMI You Can Pay
- Home Price You Can Afford
- Loan by the 28/36 Rule
- Home Price by the 28/36 Rule
💡 How banks calculate home loan eligibility
- Net monthly income × FOIR (40–60%) = total EMI allowed.
- Subtract existing EMIs to get the EMI available for the home loan.
- Convert that EMI to a loan using the interest rate and tenure (the longer the tenure, the bigger the loan).
- Cap the loan at the RBI loan-to-value limit: 90% up to ₹30 lakh, 80% for ₹30–75 lakh, 75% above ₹75 lakh.
- Banks also check your credit score (750+ is ideal), age at loan maturity (usually up to 60–70) and job stability.
💡 Home loan eligibility by salary (8.5%, 20 years, FOIR 50%, no other EMIs)
- ₹25,000 a month: about ₹14.4 lakh
- ₹50,000 a month: about ₹28.8 lakh
- ₹75,000 a month: about ₹43.2 lakh
- ₹1,00,000 a month: about ₹57.6 lakh
- ₹2,00,000 a month: about ₹1.15 crore
💡 How to increase your home loan eligibility
- Choose a longer tenure.
- Close or prepay small loans and credit card dues.
- Add a co-applicant with income (spouse or parent).
- Keep your credit score above 750.
- Declare other regular income such as rent.
❓ Frequently asked questions
How is home loan eligibility calculated?
Banks take your net monthly income × FOIR (usually 50%), subtract existing EMIs, and convert the remaining EMI into a loan at the current rate and tenure. The loan is then capped at 75–90% of the property value.
How much home loan can I get on a ₹50,000 salary?
About ₹28–29 lakh at 8.5% for 20 years with no other EMIs, or about ₹31 lakh for 25 years.
What is FOIR?
Fixed Obligation to Income Ratio — the share of your monthly income that can go to EMIs. Most banks allow 40–60%.
Can I get a 100% home loan?
No. RBI rules let banks lend at most 90% of the property value (75–80% for bigger loans), so you need a down payment.
Does the home loan eligibility calculator work for self-employed people?
Yes — enter your average yearly income after tax from your ITR. Banks usually look at the last 2–3 years' ITRs.
What is the 28/36 rule?
A conservative rule: housing costs under 28% of gross income and all EMIs under 36%. It gives a smaller, safer loan figure.
What people are saying
★★★★★
Anonymous · 05 Oct 2026
★★★★☆
Anonymous · 05 Oct 2026
![Home Loan Eligibility formula: EMI = Monthly income × FOIR − Existing EMIs; Loan = EMI × [(1 + r)ⁿ − 1] ÷ [r × (1 + r)ⁿ]](https://powercalculators.com/assets/img/calculators/home-affordability-calculator-1200x630.jpg?v=2cccf16204 "Home Loan Eligibility & Affordability Calculator — formula explained")