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About the Home Loan Eligibility Calculator
Home loan eligibility is decided by two ceilings applied together, and you get the lower of the two. The first is your income: lenders allow only a fixed share of net monthly income — the FOIR, typically 50–60% — to go toward all EMIs combined. The second is the property: the loan-to-value cap limits the loan to 75–90% of the property value depending on the ticket size.
Most applicants are surprised by which one binds. On a modest property with a strong salary the LTV cap is the constraint, and the answer is a larger down payment, not a longer tenure.
The formula
This is the EMI formula solved for the principal instead of the instalment.
Things worth knowing
Frequently asked questions
At a 50% FOIR with no existing EMIs, ₹50,000 a month can service roughly ₹58 lakh over 20 years at 8.5%. Lenders with a 60% FOIR would go higher, and the property's LTV cap may pull it back down.
Fixed Obligation to Income Ratio — the proportion of your net monthly income a lender will let you commit to EMIs. Most banks work between 50% and 60%, tightening at lower incomes and loosening for high earners.
Yes. A spouse or parent with income is added as co-applicant and their income is pooled, subject to the same FOIR. Where the co-applicant is a woman, many lenders also offer a small rate concession.
Yes. Stamp duty and registration — 5–8% of the property value depending on the state — sit outside the loan and must come from your own funds.
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