How can I increase my Home Loan eligibility?

1) Add a co-applicant (working spouse or parent), 2) Prepay existing personal/car loans, 3) Choose a longer tenure (up to 25-30 years) to reduce EMI, 4) Show variable income (annual bonuses, rental income, incentives).

Home Loan Eligibility Calculator (Salary & FOIR Limit)

Find out your maximum borrowing capacity for a housing loan based on your net monthly take-home salary, existing EMI commitments, and bank FOIR criteria in India.

Net Monthly In-Hand Salary (₹)

₹

₹25,000₹5,00,000

Existing Monthly EMIs (Car, Personal, Card) (₹)ℹ

₹

₹0₹84,000

Interest Rate (% p.a.)

7.5%Avg: 8.5%13%

Loan Tenure (Years)

Yrs

5 Yrs30 Yrs

Bank FOIR Limit (%)ℹ

40%65%

Maximum Eligible Home Loan

₹51,85,388

Based on ₹45,000/mo maximum affordable EMI at 8.5% for 20 years

Maximum New Allowable EMI

₹45,000/mo

Net Monthly Take-Home Income

₹1,20,000

Existing Monthly Debt Commitments

₹15,000/mo

Estimated Property Purchasing Power (with 20% down payment)

₹64,81,735

Calculate Home Loan EMI Details

*Final loan eligibility is subject to bank credit approval, property legal valuation, and CIBIL score.

Important Educational Disclaimer for Calculator Results:

Calculations are estimates based on your entered inputs and selected return or inflation assumptions. Results are illustrative, hypothetical, and not guaranteed. Actual market returns, interest rates, tax liabilities, and inflation rates will vary and may materially alter your final outcome. This calculator does not constitute financial, investment, or tax advice.

How much Home Loan can you borrow based on your salary?

With a net monthly salary of ₹1,20,000 and ₹15,000 in existing EMIs, banks apply a 50% FOIR (Fixed Obligation to Income Ratio) limit. Your maximum allowable new monthly EMI is ₹45,000, qualifying you for an estimated maximum home loan of ₹51,85,388 at 8.5% for 20 years.

Maximum Eligible Loan: ₹51,85,388.
Maximum Allowable EMI: ₹45,000/month.
FOIR Rule: Indian banks restrict your total monthly loan commitments (existing EMIs + new Home Loan EMI) to 50%–60% of your net in-hand monthly salary.
Boost Eligibility: Adding a working spouse as co-applicant combines both salaries, often doubling your eligible loan amount.

How This Calculator Works

Banks first determine the maximum disposable cash flow available for debt servicing under the Fixed Obligation to Income Ratio (FOIR). That allowable EMI is then discounted over the requested tenure to compute the loan sanction ceiling.

Max EMI = (Net Salary × FOIR %) - Existing EMIs ==> Eligible Loan = Present Value of Max EMI at r% for n months

Variables in Formula:

Net Monthly Salary: In-hand take-home salary credited to bank account (₹)

Existing EMIs: Ongoing car loans, personal loans, or credit card EMIs (₹)

FOIR %: Standard Indian bank lending limit (Typically 50% to 60%)

Tenure: Requested home loan duration (10 to 30 years)

Worked Step-by-Step Example

A software engineer earns ₹1,20,000 net monthly salary with an ongoing ₹15,000 car loan EMI, seeking a 20-year home loan at 8.5%.

50% FOIR Capacity₹60,000 / month

Allowable New EMI (₹60k - ₹15k)₹45,000 / month

Maximum Eligible Loan Amount₹51,85,000 (~₹51.85 Lakhs)

Key takeaway: Clearing the ₹15,000 car loan immediately boosts home loan borrowing power from ₹51.85 Lakhs to ₹69.14 Lakhs (+₹17.3 Lakhs extra borrowing capacity!).