Home Loan Eligibility Calculator
Estimate the maximum home loan a lender is likely to approve based on your income, existing EMI obligations, age, and the FOIR limit lenders typically apply.
How Home Loan Eligibility Is Calculated
Lenders use the FOIR (Fixed Obligation to Income Ratio) method to determine the maximum EMI you can afford, then work backward to the eligible loan amount.
Eligibility Formula
Max EMI = (Income × FOIR%) − Existing EMIs
Loan Amount = Max EMI × [(1 + R)N − 1] ÷ [R × (1 + R)N]
Monthly Income
₹75,000.00
FOIR
50%
Existing EMIs
₹5,000.00
Max EMI
₹32,500.00
Tenure (N)
240 Months
Eligible Loan Amount
₹37,45,002.29
Where: FOIR is the share of income lenders allow toward all EMIs combined, R is the monthly interest rate, and N is the loan tenure in months, capped so the loan ends by retirement age.
Eligibility Calculation Example
See how the FOIR method works with a practical example using the values you've entered.
Worked Example
Suppose your monthly income is ₹75,000.00 and the lender allows 50% of that toward all EMIs combined, with ₹5,000.00 already going toward existing EMIs.
That leaves you with a maximum affordable EMI of ₹32,500.00 per month, which, over a 20-year tenure, translates to an eligible loan amount of approximately ₹37,45,002.29.
A few things to keep in mind:
Every lender uses a different FOIR, typically between 40% and 65% depending on your income slab, so your actual eligibility can vary between banks.
A higher existing EMI reduces the room left for a new loan, so paying down other debts first can meaningfully raise eligibility.
Home Loan Eligibility Calculator FAQs
Find answers to common questions about how home loan eligibility is assessed, FOIR, and how to improve your eligible loan amount.
Disclaimer
Results are estimates for informational purposes only and may differ from actual values. Do not make financial, investment, tax, or legal decisions based solely on these results. Verify important calculations with official sources or a qualified professional. CalcMint is not liable for any loss or damage resulting from the use of this calculator.
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