Home Loan Eligibility Calculator
Banks sanction home loans based on your Fixed Obligation to Income Ratio (FOIR) — typically 40–50% of net monthly income. This calculator tells you the maximum loan amount you are eligible for based on your income, existing EMIs, interest rate, and preferred tenure.
Frequently Asked Questions
What is FOIR and how do banks use it?+
FOIR (Fixed Obligation to Income Ratio) is the maximum percentage of your net monthly income that banks allow toward all EMI repayments combined. Most banks use 40–50%. If you earn ₹1L net and your car EMI is ₹15K, the available EMI for a new home loan is ₹35–50K (at 50% FOIR).
Does the bank look at gross or net salary for home loan eligibility?+
Most banks calculate eligibility on net take-home salary (after PF, TDS, professional tax). However, some banks use gross salary for salaried applicants and may apply a different FOIR. This calculator uses net income, which gives a conservative estimate.
How can I increase my home loan eligibility?+
Three main levers: (1) Add a co-applicant — a spouse's income significantly increases eligibility; (2) Close existing loans and credit cards to reduce FOIR obligations; (3) Extend loan tenure — longer tenure means lower EMI per unit of loan, allowing a higher principal.
Does this include stamp duty and registration?+
Banks typically finance 75–90% of the property value (LTV ratio). Stamp duty (4–8%), registration fees (0.5–1%), and GST on under-construction properties must be paid from your own funds. Always keep a 10–15% buffer beyond the loan amount.