Home Loan Eligibility Calculator — how big a loan you can get
Banks lend on what your income can repay. Enter your take-home pay, the EMIs you already pay and your down payment to see the loan you can likely get, the house price it reaches and the EMI.
Your income is the limit
Banks also look at your credit score, age and job. RBI caps the loan at 90% of the price up to ₹30 lakh, 80% up to ₹75 lakh and 75% above — and stamp duty is extra.
Add the loan in Spendly and each EMI is set aside before it is due — so it never looks like spending money.
Track my loans →How it is calculated
Banks cap all your EMIs — the new one and any you already pay — at a share of your take-home pay, called FOIR (fixed obligations to income ratio), usually 40–60%. The EMI room left decides the loan, at the rate and tenure you choose.
The loan is also capped at a share of the house price (LTV): RBI allows 90% for loans up to ₹30 lakh, 80% up to ₹75 lakh and 75% above. So your down payment sets a ceiling too. The smaller of the two is the loan you can likely get.
EMI room = take-home × FOIR − existing EMIs Loan by income = EMI room × ((1 + r)ⁿ − 1) ÷ (r × (1 + r)ⁿ) Loan by down payment = down payment × LTV ÷ (1 − LTV) Loan = smaller of the two · House price = loan + down payment
Questions
How much home loan can I get on a ₹1 lakh salary?
With no other EMIs and a 50% limit, about ₹57.6 lakh at 8.5% for 20 years. Each ₹10,000 of existing EMIs cuts that by about ₹11.5 lakh.
Does a co-applicant increase eligibility?
Yes. A working spouse or parent as co-applicant adds their income, and both can claim tax benefits on their share of the loan.
What else do banks check?
Your credit score (750+ helps), age (the loan usually ends by 60–70), job stability and the property’s legal papers.
Should I borrow the maximum I am eligible for?
Not necessarily. Leave room for an emergency fund and saving — Spendly’s Safe to Spend shows what is left each month after the EMI.
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