Home loan eligibility
How much home loan can I get?
Estimate your home loan eligibility using the same FOIR and income-multiplier method banks use — before you apply anywhere.
Home loan eligibility
How much home loan can I get?
Assumes 8.5% p.a. over 20 years for home loan
How this is calculated
Lenders in India typically cap your total EMIs (existing + new) at 45–50% of net monthly income (the Fixed Obligation to Income Ratio, or FOIR), and separately cap the loan amount itself as a multiple of your monthly income. Banks approve whichever of the two gives the lower amount. This is a planning estimate — actual approved amounts depend on your credit score, employer category, and the specific lender's policy.
Why home loans allow much higher eligibility
Because a home loan is secured by the property itself, lenders extend a far higher income multiplier — typically 48-60 times your monthly income — than they would for an unsecured loan. Combined with long tenures of up to 30 years that keep the monthly EMI manageable, this is why home loan eligibility on the same salary is usually 3-5x higher than personal loan eligibility.
Frequently asked questions
How much home loan am I eligible for based on my salary?
Lenders typically cap your total EMIs at 40-50% of net monthly income (FOIR), and separately cap the home loan amount at roughly 48-60 times your monthly salary — approving whichever of the two is lower. On ₹75,000 net monthly income with no existing EMIs, this typically works out to ₹35-45 lakh, depending on the lender's exact multiplier and the interest rate assumed.
Why is home loan eligibility so much higher than personal loan eligibility on the same income?
Home loans are secured by the property itself, so lenders extend a far higher income multiplier (48-60x monthly salary) than they would for an unsecured personal loan (12-24x) — the property gives the lender something to recover against if you default, which justifies lending you much more.
Does my existing car loan or credit card EMI reduce my home loan eligibility?
Yes, directly. Every rupee of existing EMI obligation shrinks the room left under your FOIR cap for a new home loan EMI — paying off or reducing existing debt before applying can meaningfully increase how much home loan you're approved for.
Does a joint home loan application increase eligibility?
Yes — adding a co-applicant's income (spouse, parent, or sibling with independent income) to the application increases the combined net monthly income the lender uses for both the FOIR and multiplier calculations, which can substantially raise the eligible loan amount.
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