How to use the Home Loan Eligibility Calculator
- Enter your net monthly income and any EMIs you already pay.
- Keep FOIR at 50% or change it to your bank’s figure.
- Enter the interest rate and tenure to see the maximum loan.
About this tool
Banks usually allow all your EMIs together to be a set share of your net monthly income — the FOIR (fixed obligations to income ratio), often 40–60% depending on income. So your affordable new EMI = income × FOIR − existing EMIs, and the maximum loan is the amount that EMI can repay: loan = EMI × ((1 + r)n − 1) ÷ (r × (1 + r)n), with r the monthly rate and n the months.
Example: ₹1,00,000 income, ₹10,000 existing EMIs and 50% FOIR leave ₹40,000 for a new EMI — about ₹46 lakh at 8.5% for 20 years. RBI also caps the loan-to-value ratio (up to 90% for loans up to ₹30 lakh, 80% up to ₹75 lakh, 75% above), so you pay the rest as down payment along with stamp duty and registration. Longer tenures and a co-applicant’s income increase eligibility; a good credit score helps you get a lower rate.
Frequently asked questions
How much home loan can I get on ₹1 lakh salary?
With no other EMIs, 50% FOIR, 8.5% and 20 years, about ₹57.6 lakh. With ₹10,000 of existing EMIs it falls to about ₹46 lakh.
What is FOIR?
Fixed obligations to income ratio: the share of your monthly income that can go towards all EMIs. Banks commonly use 40–60%.
How can I increase my home loan eligibility?
Add a co-applicant, choose a longer tenure, close small loans and credit card dues, and keep a good credit score.