Loan amount my income supports. The Home Loan Eligibility Calculator takes monthly net income (applicant + co-applicant), existing emis per month, maximum share of income for emis, home loan rate, tenure and returns maximum home loan plus maximum emi, property you can buy with a 20% down payment. Results update as you type, and the formula is shown under the result so you can repeat it in your own spreadsheet.
Property returns depend on assumptions about rent, occupancy, costs and appreciation that are easy to make optimistic. Enter conservative figures and remember that transaction costs, taxes and vacancy periods are real. Use the worked example below to check the maths against your own figures.
How the Home Loan Eligibility Calculator works
Banks typically allow EMIs up to 50–55% of net income and lend up to 80% of the property value (75% above ₹75 lakh). Adding a co-applicant's income raises the eligible loan proportionately.
Worked example
With the example values (monthly net income (applicant + co-applicant) of ₹100,000, existing emis per month of ₹0, maximum share of income for emis of 50%, home loan rate of 8.5%, tenure of 20 years), the maximum home loan is ₹5,761,541.99; maximum emi ₹50,000.00, property you can buy with a 20% down payment ₹7,201,927.49. Change any figure above and the result updates immediately; use Copy results to paste the summary into a note or email.
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Frequently Asked Questions
How is maximum home loan calculated?
maximum EMI = income × FOIR − existing EMIs; loan = present value of that EMI over the tenure; property = loan ÷ 0.8.
Which figures do I need?
Monthly net income (applicant + co-applicant), existing emis per month, maximum share of income for emis, home loan rate, tenure. Take them from the same period and the same set of accounts or reports so the ratio is consistent, and check the example values as a guide to the units expected.
Which costs are easy to forget?
Vacancy periods, maintenance, property tax, insurance, brokerage on purchase and sale, and stamp duty. Include them for a realistic return.
