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Home Loan Eligibility Calculator
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Find out how much home loan you qualify for before you apply. Uses the same FOIR method banks use, with co-applicant income and existing EMI adjustments.
You are eligible for up to
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Enter your details above.
Estimate only — banks also check credit score, employment type, and property value. Looking for Sharia-compliant financing? Try our Sharia mortgage calculator.
What is FOIR?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your monthly income that banks allow to go toward all EMIs combined. Most banks use 40–50%. If your income is ₹80,000 and FOIR is 50%, your total EMIs can't exceed ₹40,000 — minus what you already pay, the rest can go to your home loan EMI.
How to increase your eligibility
- Add a co-applicant: a working spouse's income directly raises eligibility.
- Close small loans: clearing a car or personal loan EMI frees FOIR room.
- Choose a longer tenure: 25–30 years lowers the EMI, raising the eligible amount.
- Improve your credit score: 750+ unlocks better rates and easier approval.
FAQs
How is home loan eligibility calculated?
Banks use the FOIR method: they allow EMIs up to about 40–50% of your net monthly income after subtracting existing EMIs. The eligible loan is the amount whose EMI fits that budget at the given rate and tenure.
Does a co-applicant increase my home loan eligibility?
Yes. Adding a co-applicant's income raises the total income considered, which increases the EMI you can afford and therefore the loan amount.
Do existing EMIs reduce home loan eligibility?
Yes. Existing EMIs are subtracted from your affordable EMI first, so they directly reduce the home loan you qualify for.
Is this home loan eligibility calculator free?
Yes. It is 100% free with no signup required.