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Home Loan Eligibility Calculator

What is a Home Loan Eligibility Calculator?

Paisabazaar’s Home Loan Eligibility Calculator is an online tool that helps prospective borrowers determine the loan amount they are eligible for. The calculator takes inputs on age, income, tenure, interest rate and pre-existing debts to give an estimate of the eligible loan amount.

Housing loan eligibility calculators on some lender websites also require location to ascertain whether the property falls under their loan serviceable location. Consumers planning to apply for home loans can also visit their respective bank websites to get a fair idea of their maximum eligible home loan amount.

How to Use Home Loan Eligibility Calculator?

  • Home loan eligibility calculators are easy to use.
  • To get results, enter your gross monthly income, tenure, interest rate and existing loan EMI obligations
  • The calculator shows your eligibility for the home loan based on the inputs you provide
  • Enter different combinations to reach out to the optimum loan amount, tenure and LTV based on your financial profile.

Some lenders may additionally require users to provide details like city, date of birth, and employment type to ascertain their eligibility. This information lies solely with the specific lender and may vary for different lenders.

Home Loan Eligibility Calculators by Top Lenders

Key Factors Affecting Home Loan Eligibility

Multiple factors influence an applicant’s home loan eligibility. Knowing and understanding these factors might help home loan applicants improve their chances of availing loan approval. Here are some of these parameters based on which lenders determine home loan eligibility:

Home Loan Eligibility based on Salary/Income

  • Most lenders do not yet disclosed the minimum income criteria for their home loan applicants.
  • Lenders that have disclosed their income requirements usually require their salaried applicants to have a net monthly income of at least Rs. 20,000 and self-employed applicants to have a net annual income of at least Rs 1.5 lakh p.a.
  • Lenders usually set lower income requirements for applicants availing affordable housing loan schemes.

Home Loan Eligibility based on CIBIL Score or other Credit Scores

  • Banks and HFCs usually prefer approving home loan applications of those having credit scores of 760 and above.
  • This is because applicants having such high credit scores tend to exercise greater credit discipline, thereby reducing the possibility of loan default.
  • This reduces the lending risk for banks and HFCs, leading them to set lower home loan interest rates for such home loan applicants.
  • Applicants with relatively lower credit scores may also get their loan applications approved but may have to follow stricter terms and conditions.
  • The minimum credit score requirement for availing a home loan may vary across lenders.
  • Some lenders also offer home loans to consumers having no credit history.

Home Loan Eligibility based on Age

  • The minimum age required to apply for a home loan is 18 years, with some lenders setting the minimum age requirement at 21 years.
  • The maximum age at the time of loan maturity is usually set at 60 years, with some lenders offering it until 75 years of age.
  • Home loan tenure usually stretches up to 30 years, with many lenders capping the age of retirement as the maximum age limit.
  • Younger home loan applicants have higher chances of availing home loans for longer loan tenures.

Home Loan Eligibility based on Employment

  • Home loans are offered to both salaried and self-employed individuals
  • Salaried employees may have higher chances of availing home loans due to their higher income certainty.
  • Among salaried applicants, those employed with Central/State Governments, PSUs, reputed corporates and MNCs may have higher prospects of availing home loans.
  • Some lenderSubject to the aforementioned limits, home loan lenders further set the LTV ratio based on the risk assessment and credit profile of the applicant. Those with lower creditworthiness are usually offered loans with lower LTV ratios.s also set lower interest rates for such home loan applicants.
  • Among self-employed applicants, professionals like doctors, architects, chartered accountants, etc. have higher prospects of availing home loans.
  • Applicants whose occupation or employer profile is not included in the lenders’ list of approved employers/occupation profiles might have their loan applications rejected.
  • Many lenders require salaried individuals to have at least 2 years of total working experience to be eligible for a home loan.
  • In the case of self-employed individuals, the business should run for at least 3 years.
  • Consumers planning to avail home loans in future should avoid changing their jobs, if possible.

Home Loan Eligibility based on Repayment Capacity

  • Banks and HFCs usually sanction home loans to applicants whose total EMI obligation, including that of the proposed home loan, does not exceed 50-65% of their total income.
  • As opting for a longer home loan tenure will decrease the home loan EMI, those having lower housing loan eligibility can improve it by opting for a longer tenure.
  • Lenders use metrics like the EMI/NMI ratio or Fixed Obligation to Income Ratio (FOIR) for determining their applicants’ loan repayment capacity.
  • EMI/NMI ratio or FOIR is the proportion of an applicant’s monthly income used for servicing their loan EMI obligations, including the proposed home loan EMI.
  • Generally, lenders require an EMI/NMI ratio of less than 50% to 65%; exceeding this limit may reduce the applicant’s prospects of availing loan approval.

Home Loan Eligibility based on Property Value and LTV Ratio

  • Property value and LTV ratio are two primary factors based on which lenders determine an applicant’s eligible loan amount.
  • LTV Ratio is the proportion of the pledged property’s value that lenders finance through home loans.
  • The Reserve Bank of India (RBI) has capped these ratios based on the property value, seen as below:
Loan Slab LTV Ratio Limit
Up to Rs. 30 Lakh Up to 90% of the property value
Between Rs. 30 Lakh & Rs. 75 Lakh Up to 80%  of the property value
More than Rs. 75 Lakh Up to 75%  of the property value

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How is Home Loan Eligibility Calculated?

An applicant’s home loan eligibility is calculated primarily on the basis of their income, loan repayment capacity and the value and other attributes of the pledged property. Other factors that lenders consider when assessing your eligibility for a home loan include credit score, age, occupation profile, job/business stability and employer’s profile.

6 Tips to Increase Home Loan Eligibility

Some of the ways to improve your home loan eligibility are:

Maintain a high credit score

  • A high credit score, preferably 760 and above, improves your chances of getting loan approval and better loan rates.
  • Responsible credit behaviour, like repaying your credit card and loan EMIs by their due dates and avoiding making multiple loan applications within a short period, can help in improving your credit score.

Add a co-applicant

  • Lenders consider the income and loan repayment capacity of both the primary applicant and the co-applicant at the time of loan evaluation.
  • Adding an earning family member with a good credit history and strong repayment capacity can decrease the lending risk for your home loan lender and thereby improve your chances of loan approval.
  • As co-applicants are equally liable for home loan repayment, adding a co-applicant can allow the borrowers to avail bigger loan amounts and/or shorter tenures.
  • Having a female primary loan applicant or co-applicant might even help applicants to avail concessions on home loan interest rates.
  • Note that any delay/default in making EMI payments would also cause the credit scores of both the primary applicant and the co-applicant(s) to drop.

Pay higher down payments

  • Lenders can finance only up to 90% of the property’s value depending on the property value.
  • The rest of the property’s value has to be paid by the borrowers from their own sources as a down payment or margin contribution.
  • As making a higher down payment reduces the credit risk for the lenders, opting for a lower LTV ratio can increase the chances of home loan approval.

Limit your EMIs within 50-65% of your net monthly income

  • Applicants having total EMI obligations, including the EMI of the proposed home loan, within 50-65% of their net monthly income have higher chances of availing home loans.
  • Those exceeding this limit can choose longer tenures for their proposed home loans to reduce their home loan EMIs.
  • This may help in bringing their total EMIs within the aforementioned limit and thereby improve their housing loan eligibility.

Check Home Loan Eligibility for Your Required Loan Amount

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FAQs

How to check home loan eligibility?

To check an applicant’s eligibility for a home loan, lenders look into various aspects of his credit profile including his age, credit score, income, loan repayment capacity, occupation profile, employer’s profile, property features, etc. As the eligibility conditions can vary across lenders, applicants would have to check their loan eligibility by individually visiting the branch or website of their preferred banks and HFCs.However, the easier alternative would be to visit online financial marketplaces, wherein you would be able to check and compare home loan offers from multiple lenders based on your credit profile.

How to check home loan eligibility in HDFC?

Use HDFC Bank’s home loan eligibility calculator to know the maximum eligible home loan amount. The calculator is easy to use and requires just a few basic inputs such as your gross monthly income, tenure, interest rate and other EMI obligations for making the final calculation.

How is the home loan eligibility calculated?

Lenders calculate an applicant’s home loan amount eligibility based on multiple factors including his age, income, existing EMIs and property value.

How to calculate home loan eligibility for a salaried applicant?

Lenders determine home loan amount eligibility of salaried applicants on the basis of their monthly income, age, existing EMI obligations and market value of the property. Prospective applicants can use the housing loan eligibility calculator of the respective lenders to know the maximum home loan amount available from various lenders based on their credit profile.

How to calculate home loan eligibility for self-employed applicants?

Lenders determine home loan amount eligibility of self-employed applicants based on their age, annual income, existing EMIs and property value. Those planning to avail home loan can estimate the eligible loan amount using the home loan eligibility calculator of their respective banks and HFCs.

How much home loan am I eligible for on a Rs. 60,000 salary?

Banks and HFCs decide your eligible home loan amount based on EMI/NMI (Net Monthly Income) Ratio or LTV. Let’s say, your FOIR is 50% and LTV is 90% for a property, which amounts to Rs. 66 lakh. Considering you have no other financial liabilities, the maximum amount you can pay every month is Rs. 60,000*50% = Rs. 30,000.If you choose the tenure to be 30 years, then as per EMI/NMI Ratio, your eligible housing loan amount will be = Rs. 30,000*12*30 = Rs. 1.08 crore. But, the LTV ratio of 90% of the property value, which will be Rs. 1.08 crore*90% = Rs. 97.20 lakh. So, the loan you can get on Rs. 60,000 salary is of Rs. 97.20 lakh.

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Paisabazaar se mujhe bahut kam rate pe loan mil gaya...isse mere budget pe jada asar nahi pada aur jald hi mera apna ghar ho jayega..

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eligibility check ho jati hai free

me home loan lene ka soch raha tha uske liye mene pehle paisabazaar app se free me apni eligibility check ki..usse mujhe pata chala muje kya cheeze improve karni hai aur fir mera loan jaldi approve ho gaya.

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Mujhe home loan chahiye tha aur yahaan par sahayta kiya inhone aur loan mila. Pehla loan tha mera lekin sab ache se ho gaya.

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Prem Prakash PandeyDec 7, 2025

Home loan here

I took home loan here and they helped me in every step specially in collecting and submitting documents at the time of approval.

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Chandan SinghDec 1, 2025

Got the best home loan interest rate

I was confused and did not have so much time to carry out all the research, so I logged in to Paisabazaar’s portal and was able to see the home loan options I was eligible for. With the assistance of Paisabazaar’s experts, I was able to find the home loan that offered the rate of interest I could afford. Thank you Paisabazaar!

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Anu BhatnagarSep 10, 2021

Excellent Home Loan Service by Paisabazaar

Ended up taking an ICICI Home Loan and I think it was one of the best decisions I ever made. I thank Paisabazaar for helping me out and answering my questions with so much patience.

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KJ ThomasSep 10, 2021

Had a great experience with Paisabazaar

I have always heard my friends talking about how tedious it was for them to avail a home loan and decide the most suitable option. But with the help of Paisabazaar, I was able to compare several home loans and opt for the one that suited my needs. I am happy that I considered Paisabazaar for helping me.

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Ritesh SharmaSep 10, 2021

quick and easy home loan process

I had never thought that applying for a home loan could be so easy. The entire process was online and I didn’t have to go anywhere for application or documentation of my home loan. Paisabazaar experts helped me navigate through the process and later the bank collected my documents and everything was quick and seamless.

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Rupanjali MishraSep 3, 2021

Satisfied experience with Paisabazaar

I am satisfied with my home loan experience with Paisabazaar. I could easily compare different home loan options and apply for the home loan. Their customer care team also called me to confirm all the details and soon after the bank contacted to take the process forward. The process was really smooth.

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Soumil KhannaSep 3, 2021
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