Your Income Details
₹5,000₹5 Lakh
₹0₹2 Lakh
1 Year30 Years
Your Eligibility Result
Eligible Loan Amount
₹0
Estimated Monthly EMI
₹0
You're pre-qualified! Explore properties within your eligible loan amount.
Home Loan Eligibility FAQs
Common questions about home loan eligibility and approval
Banks typically use the FOIR (Fixed Obligation to Income Ratio) method, where your total monthly obligations (including the new EMI) should not exceed 50% of your monthly income. They also consider your age, credit score, existing loans, and the property value.
FOIR (Fixed Obligation to Income Ratio) is the percentage of your monthly income that goes towards existing loan EMIs and other fixed obligations. Most banks require FOIR to be below 50%, meaning your total EMIs should not exceed half your monthly income.
Typical documents required include: Identity proof (Aadhaar, PAN), address proof, salary slips for 3-6 months, bank statements for 6 months, IT returns for 2-3 years, property documents, and employment proof. Self-employed applicants need additional business documents.
Yes, but your existing EMIs reduce your loan eligibility. Banks calculate your disposable income (50% of income minus existing EMIs). The new home loan EMI must fit within this disposable amount. Higher existing EMIs mean lower eligibility for the new loan.
Maximum home loan tenure in India is typically 30 years, but this is subject to your age at loan maturity. Most banks require the loan to be repaid before you turn 60-65. For example, if you are 35, you may get a maximum tenure of 25-30 years.
Understanding Home Loan Eligibility
Your home loan eligibility depends primarily on your income, existing financial obligations, age, and the loan tenure. Banks typically allow up to 50% of your monthly income as EMI payments. Using our home loan eligibility calculator helps you determine how much you can borrow before you start property hunting, allowing you to focus on properties within your budget and avoid disappointment.