Home Loan Eligibility Calculator
Estimate the home loan amount your monthly income can support.
In Short
Home loan eligibility is the estimated principal your income can support after existing EMIs, based on lender FOIR, rate and tenure.
How Income Supports a Home Loan
Lenders use FOIR to cap all monthly debt payments as a share of assessed income. Existing EMIs are deducted first. The remaining capacity becomes the affordable EMI for a new home loan.
A higher income, fewer obligations or longer tenure can raise the estimated loan amount. Approval still depends on lender policy and the applicant and property assessment.
Eligibility Formula
FOIR - permitted debt share of income
r - monthly home loan rate
n - total monthly instalments
Worked Example
With ₹1,00,000 net monthly income, ₹10,000 existing EMIs and 50% FOIR, the affordable home loan EMI is ₹40,000. At 8.5% p.a. for 20 years, this supports an estimated loan of ₹46,09,234.
Frequently Asked Questions
How is home loan eligibility calculated from income?
The calculator first applies the selected FOIR to monthly net income, subtracts existing EMIs, and treats the remainder as the affordable home loan EMI. It then converts that EMI into a loan amount using the selected interest rate and tenure.
What is FOIR in a home loan?
FOIR means Fixed Obligations to Income Ratio. It is the share of monthly income that a lender allows for all EMIs combined. A 50% FOIR means total monthly loan obligations should not exceed half of the assessed income.
What income should I enter?
Enter the stable monthly net income that a lender is likely to consider. If there are co-applicants, include their income only when they will apply jointly and the lender accepts it.
Do existing EMIs reduce home loan eligibility?
Yes. Existing personal loan, car loan, credit card and other monthly obligations use part of the permitted FOIR, leaving less income available for a new home loan EMI.
Does a longer tenure increase home loan eligibility?
Usually yes. A longer tenure supports a larger principal for the same affordable EMI, but it also increases total interest and may be limited by the applicant's age and lender policy.
Is the calculated amount a guaranteed loan sanction?
No. It is an indicative estimate. Lenders also assess credit score, age, employment and income stability, property value, loan-to-value limits, documentation and their own underwriting rules.