Home Loan Eligibility Calculator

Home Loan Eligibility Calculator – Find Your Maximum Loan Amount

Want to know how much home loan you can qualify for? Our Home Loan Eligibility Calculator simplifies this process by helping you estimate both the maximum EMI you can afford and your eligible loan amount. All you need is your current monthly income, existing obligations (EMIs, credit card debts), interest rate, and desired loan tenure.

How It Works

The calculator follows these steps:

  1. Subtracts your monthly obligations from income to find your disposable income
  2. Allocates up to 50% of that toward home loan EMI (as per typical lender norms)
  3. Calculates the EMI and eligible loan value using standard amortization formulas

Why Use This Tool?

  • 🧠 Helps you plan your home purchase realistically
  • 💼 Prepares you ahead of your visit to banks or pre-approval
  • 💡 Reveals whether your liability ratio is healthy
  • 🛠 Offers insights to adjust tenure or down payment

Inputs Explained

  • Monthly Income: Net income available for repayment
  • Existing Obligations: Total of current EMIs, credit card minimums
  • Interest Rate: Expected floating/fixed annual rate to be charged
  • Loan Tenure: Number of years you plan to repay

Understanding the Result

  • Max EMI Affordable: 50% of disposable income
  • Eligible Loan Amount: The maximum principal you can take based on EMI and tenure
  • Visual chart helps compare your current obligations vs home loan EMI capacity

FAQs – Home Loan Eligibility Calculator

1. What factors affect home loan eligibility?

Salary, existing debts, credit score, interest rate, and tenure all play a role in determining eligibility.

2. Why is only 50% of disposable income used?

Lenders typically cap your EMI repayment to 40–50% of disposable income to ensure affordability and reduce default risk.

3. Can increasing tenure raise my loan eligibility?

Yes, a longer tenure reduces EMI burden, which can increase your eligible principal. But it also means paying more interest over time.

4. Is this calculator exact?

It provides estimates. Exact loan eligibility may vary by lender based on credit score, job stability, and other policies.