Home Loan Eligibility Calculator

Lenders use the Fixed Obligation to Income Ratio (FOIR) method. Your gross monthly income (plus other verifiable income) is multiplied by an FOIR cap of 40–55%, and your existing EMIs are subtracted to get the maximum EMI you can afford. This max EMI is converted into a loan amount using the standard EMI formula, based on your chosen interest rate and tenure. Property value is typically capped at 80% loan-to-value (LTV), so you fund the remaining 20% plus registration costs as down payment.

FOIR (Fixed Obligation to Income Ratio) is the percentage of your monthly income banks allow toward all fixed obligations — the new home loan EMI plus existing EMIs, credit cards and other loans. Most banks cap FOIR between 40% and 55% depending on income level, employment type and credit profile. A lower FOIR (40%) is conservative and used for lower income brackets; a higher FOIR (up to 55%) increases eligibility but also raises your monthly obligation load.

Yes. Adding a co-applicant such as a spouse or parent with a regular income lets the bank combine both incomes (subject to their own obligations) to calculate a higher maximum EMI, and therefore a higher loan amount. This is one of the most effective ways to boost eligibility without changing tenure or rate. Both applicants become jointly liable, and joint home loans can also unlock additional Section 80C and 24(b) tax benefits if both co-owners are co-borrowers.

Most banks and housing finance companies require a CIBIL score of 750 or above for the best rates and highest eligibility. Scores of 700–749 may still get approved, often at a slightly higher rate or lower FOIR cap. Below 650–700, approval with mainstream banks becomes difficult, though some NBFCs and HFCs may still lend at higher rates. This calculator assumes a good credit profile — always check your actual CIBIL score before applying, since a poor score can override strong income-based eligibility.