Loans & EMI
Home Loan Eligibility Calculator
Quick answer: The FinTax24 Home Loan Eligibility Calculator estimates the maximum home loan you can borrow based on monthly income (gross / net), existing EMIs, FOIR cap (typically 50-65%) and lender-specific multiplier rules. It also factors in property value, LTV limit (80% for ₹30 lakh+, 90% up to ₹30 lakh) and the lender’s risk-adjusted eligible income.
Home Loan Eligibility Calculator
Find the maximum home loan you qualify for based on income, FOIR, and existing EMIs.
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Disclaimer: Results are for indicative purposes only and may vary based on actual rates, rules, and policies. Please consult a FinTax24 expert for binding advice.
How to use this calculator
Follow these 4 steps for an accurate result.
- 1
Enter monthly income
Type gross salary / business income, plus any rental or spouse income you intend to club.
- 2
Add existing EMIs
Type ongoing EMIs for car loan, personal loan or any other obligation.
- 3
Pick lender / multiplier
Choose lender type — PSU banks use ~60x multiplier, HFCs ~70x, NBFCs ~80-90x.
- 4
Read eligible loan + property value
Calculator surfaces eligible loan amount, EMI to fit, and the supported property value at 80-90% LTV.
Key takeaways
- FOIR (Fixed Obligation to Income Ratio) of 50-65% is the standard eligibility filter applied by most lenders.
- LTV cap: 80% for loans above ₹30 lakh, 90% for ₹30 lakh and below — RBI mandate.
- Eligible income varies by lender — adds rental, business and spouse income per their underwriting policy.
- Surfaces the eligible loan amount, the EMI that fits, and the property value that satisfies both.
Frequently asked questions
Quick answers to common questions about home loan eligibility calculator.
How is home loan eligibility calculated?
Lenders compute home loan eligibility as min(multiplier-based, FOIR-based, LTV-based). Multiplier is eligible monthly income × a fixed factor (PSU banks 60x, private banks 70x, HFCs 80x, NBFCs 90-100x of monthly gross income). FOIR caps total EMIs at 50-65% of monthly income. LTV caps the loan at 80-90% of property value.
Can I include spouse income for eligibility?
Yes — most lenders allow spouse income to be clubbed for joint home loan eligibility, with a higher multiplier on combined gross monthly income. The clubbing is most beneficial when the spouse is also working — full-time income + ₹5,000 income multiplier per co-owner are common.
What is the LTV cap on home loans?
Per RBI Master Direction, LTV (Loan-to-Value) is capped at 90% for loans up to ₹30 lakh, 80% for ₹30 lakh to ₹75 lakh, and 75% for above ₹75 lakh. The remainder must be funded by the buyer’s own contribution (typically 10-25% of property value).
What is FOIR?
FOIR is the Fixed Obligation to Income Ratio — total EMIs / net monthly income × 100. Banks cap FOIR at 50-65%; above this, the loan is rejected or downsized. Calculator applies a 55% cap (most common) — the lender-specific rule can be entered manually.
Is rental income considered for eligibility?
Yes — lenders accept rental income from owned property (after 30% standard deduction) at 70-85% add-back for FOIR computation. The property must be in the same city or close to home-loan location, and a 6-month-old rental agreement is usually required.
How can I improve my home loan eligibility?
Close small-ticket loans (credit card EMI, BNPL) before applying; club spouse income if applicable; clear existing credit-card dues; prepay the longest-tenure loan to reduce EMI outflow; request longer tenure with step-up EMI option if FOIR is the limiting factor.
Sources & authority: For regulations on home loan eligibility calculator, refer to gst.gov.in, mca.gov.in, incometax.gov.in, rbi.org.in, RBI Master Direction on housing finance, NHB — standardised home-loan terms, Income Tax Section 80C / 24(b).
Last reviewed by: FinTax24 Lending Desk · Reviewed on:
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