Home Loan Eligibility Calculator
Find the maximum home loan you qualify for — based on Indian bank FOIR norms.
FOIR-BasedAll Major BanksCo-applicant Support
🔑 Your Income & Obligations
Total Household Income—
Maximum Allowable EMI (FOIR)—
Available EMI (after existing loans)—
Maximum Eligible Home Loan—
Approx. Property Budget (80% LTV)—
LTV (Loan-to-Value) is typically 75–80% of property value for loans above ₹30L. Eligibility also depends on your CIBIL score (750+ recommended), employment type, and property approval status.
How Banks Decide Home Loan Eligibility
Indian banks primarily use the Fixed Obligation to Income Ratio (FOIR) to determine how much home loan you qualify for. FOIR is the percentage of your gross monthly income already committed to fixed obligations — existing EMIs, credit card minimum payments, and the proposed new EMI combined.
Most banks cap FOIR at 40–50%. This means if your gross income is ₹80,000/month, your total EMI obligations (old + new home loan) cannot exceed ₹32,000–40,000/month. The maximum home loan is then back-calculated from the available EMI capacity.
Max Allowable EMI = Gross Income × FOIR%
Available EMI = Max Allowable EMI − Existing EMIs
Max Loan = Available EMI × [(1 − (1+r)^−n) ÷ r]
Property Budget = Max Loan ÷ 0.80 (assuming 80% LTV)
Frequently Asked Questions
Does CIBIL score affect home loan eligibility?
Yes, significantly. A CIBIL score above 750 is the minimum for competitive rates and high loan amounts. Scores above 800 can unlock lower interest rates (0.25–0.5% lower), which translates to lakhs of savings over a 20-year tenure. Scores below 700 may result in rejection or very high rates.
Can I add a co-applicant to increase eligibility?
Yes — adding a co-applicant (spouse, parent, or earning sibling) combines incomes for FOIR calculation, directly increasing the eligible loan amount. Both co-applicants' CIBIL scores are checked. Both must be co-owners of the property for the bank to consider combined income.
Does the type of employment matter?
Yes. Salaried employees (especially government/PSU) get the highest eligibility and lowest rates. Self-employed professionals (CA, doctors) need 2–3 years of ITR. Businesspeople need stable profit documentation. Contract workers and freelancers typically face stricter scrutiny or higher rates.
What is LTV and how does it limit my loan?
LTV (Loan-to-Value ratio) is the maximum percentage of property value a bank will lend. RBI mandates: 90% LTV for loans up to ₹30 lakh, 80% for ₹30–75 lakh, and 75% for above ₹75 lakh. This means you must arrange the remaining 10–25% as down payment from your own funds.