How to use this home loan eligibility calculator
- Net monthly income (take-home): the salary credited to your bank account each month, after tax and deductions. If you are applying with a co-borrower, add both incomes.
- Existing EMIs: what you already pay each month on a car, personal or education loan. Lenders often count rent you will keep paying as well.
- Down payment (own contribution): the part of the price you can pay yourself. It adds to your budget and also caps the loan, because banks lend only a share of the property value.
- Interest rate and Loan tenure: the rate you have been quoted and the number of years you want to repay over.
- Open "More options" to set the FOIR limit to 40%, 50% or 55%.
The result shows the most you could spend on a home, the loan and EMI behind it, and whether FOIR or the loan-to-value cap is the limit that binds. It also gives a comfortable budget at 40% FOIR, a stretch budget at 55%, and a range to set aside for stamp duty and registration.
How home loan eligibility is worked out
Indian lenders do not start with the property price. They start with your net monthly income and ask how much of it can go on EMIs. Whatever is left after your existing EMIs is the most the new home loan EMI can be, and the loan is the amount that EMI would repay over your tenure.
Maximum EMI = net monthly income × FOIR − existing EMIsMaximum loan = maximum EMI × (1 − (1 + r)−n) ÷ r r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of EMIs (tenure in years × 12).
The calculator then checks that loan against the RBI loan-to-value cap for your down payment, takes the lower of the two, and adds your down payment to get the maximum price.
Worked example
You take home ₹1 lakh a month, already pay ₹10,000 in EMIs, have ₹15 lakh for the down payment and are quoted 8.5% over 20 years, with a 50% FOIR limit.
- 50% of ₹1,00,000 is ₹50,000 for all your EMIs. Take away the ₹10,000 you already pay and ₹40,000 is left for the home loan EMI.
- At 8.5% over 20 years, every ₹1,000 of EMI repays about ₹1,15,231 of loan, so ₹40,000 a month supports a loan of ₹46,09,234.
- With ₹15 lakh down, the RBI caps would allow a loan of up to ₹60 lakh, so FOIR is the limit that binds.
- Add the down payment and the maximum price is ₹61,09,234, with a loan-to-value ratio of 75.4%.
At a 40% FOIR the same borrower tops out at ₹49,56,925; at 55%, ₹66,85,388. Closing the ₹10,000 of other EMIs would lift the maximum to ₹72,61,542, and a rate 1 point lower to ₹64,65,285.
Home loan eligibility by salary
The largest loan at each FOIR limit, with no other EMIs, at 8.5% over 20 years, and with a down payment big enough that the RBI cap does not limit the loan:
| Net monthly income | EMI at 50% FOIR | Loan at 40% | Loan at 50% | Loan at 55% |
|---|---|---|---|---|
| ₹50,000 | ₹25,000 | ₹23,04,617 | ₹28,80,771 | ₹31,68,848 |
| ₹75,000 | ₹37,500 | ₹34,56,925 | ₹43,21,156 | ₹47,53,272 |
| ₹1,00,000 | ₹50,000 | ₹46,09,234 | ₹57,61,542 | ₹63,37,696 |
| ₹1,50,000 | ₹75,000 | ₹69,13,850 | ₹86,42,313 | ₹95,06,544 |
| ₹2,00,000 | ₹1,00,000 | ₹92,18,467 | ₹1,15,23,084 | ₹1,26,75,392 |
Tenure moves the figure too. On a ₹1 lakh income with no other EMIs and a 50% FOIR, the loan grows from about ₹50.8 lakh over 15 years to ₹57.6 lakh over 20, ₹62.1 lakh over 25 and ₹65 lakh over 30. A longer tenure costs far more interest, though, so check the total in the home loan EMI calculator before you stretch it.
FOIR: the limit that usually decides
FOIR (fixed obligation to income ratio) is India’s version of debt-to-income: your total EMIs, and often rent, divided by your net monthly income. Lenders typically cap it around 40–50%, and up to about 55% for higher incomes, but each lender sets its own limit. That is why the calculator lets you test all three.
Existing EMIs come straight off the top, rupee for rupee, which is why the results also show how much more you could borrow without them. At 8.5% over 20 years, each ₹10,000 of other EMIs costs you about ₹11.5 lakh of home loan. You can see your current ratio, and how much new EMI it leaves room for, with the FOIR calculator.
When your down payment is the limit
Under RBI rules, banks commonly lend up to 90% of the property value for home loans up to ₹30 lakh, 80% for loans of ₹30–75 lakh and 75% above ₹75 lakh. The rest is your own contribution. With ₹15 lakh down, the most you can borrow is ₹60 lakh, 80% of a ₹75 lakh home.
So a higher salary does not always mean a bigger loan. Someone taking home ₹1.5 lakh with no other EMIs could support about ₹86.4 lakh under a 50% FOIR, but with ₹15 lakh down they are capped at a ₹60 lakh loan and a ₹75 lakh home. In the 80% band the loan can be up to four times your own contribution, so adding ₹1 lakh to the down payment lifts the maximum price to ₹80 lakh. Check where you stand with the home loan LTV calculator.
Cash to keep aside
Your down payment is not the only cash you need. Stamp duty and registration are set by each state, typically about 5–7% of the property value plus about 1% for registration, and some states offer concessions for women buyers. There is no PMI in India, but owning a flat also means monthly society maintenance and yearly property tax to your municipality.
FOIR only counts EMIs, so make sure the EMI plus those running costs still fits your budget. If you are unsure whether to buy at all yet, the rent vs buy calculator compares the two over the years you expect to stay.
Frequently asked questions
How much home loan can I get on a ₹1 lakh salary?
How much home loan can I get on a ₹50,000 salary?
What is FOIR, and what FOIR do banks allow?
Do my existing EMIs reduce my home loan eligibility?
How can I increase my home loan eligibility?
Does home loan eligibility cover stamp duty and registration?
Sources and further reading
Independent, official guidance on this topic. Rules differ by country, so check the regulator where you live.
- Reserve Bank of India: regulations, notifications and consumer awareness · Reserve Bank of India
This calculator gives estimates for education and planning. It is not financial advice, and your lender's figures may differ. See how we calculate.