Your Financial Details

%
Years

Maximum Eligible Loan

₹23,04,617
Max Monthly EMI₹20,000
Tenure20 Years

* This is an estimate based on standard bank norms (FOIR). Actual eligibility may vary based on credit score, age, and bank policies.

Bank-wise Eligibility Estimate

Each bank applies a different FOIR (Fixed Obligation to Income Ratio). Estimated eligible loan amounts based on your inputs:

BankFOIREstimated Loan
SBI50%₹23,04,617
HDFC55%₹25,35,078
ICICI55%₹25,35,078
Axis50%₹23,04,617
Bank of Baroda60%₹27,65,540

How Home Loan Eligibility is Calculated

Banks consider several factors when determining your home loan eligibility:

  • Monthly income — Your net take-home salary or income
  • Existing obligations — Current EMIs, credit card dues, and other loan payments
  • Age — Younger applicants may qualify for longer tenures
  • Credit score — A CIBIL score above 750 improves eligibility
  • Employment type — Salaried vs. self-employed have different criteria
  • Property value — Loan-to-value (LTV) ratio limits apply

Formula used by banks:

Eligible EMI = Net Income x FOIR% - Existing EMIs

Loan Amount = Eligible EMI x [((1+r)^n - 1) / (r x (1+r)^n)]

Where r = monthly interest rate, n = total number of monthly installments, FOIR = Fixed Obligation to Income Ratio (typically 50-65%).

Tips to Increase Your Home Loan Eligibility

  • Add a co-applicant (spouse/parent) to combine incomes and boost eligibility
  • Clear existing loans and credit card dues before applying to lower your FOIR
  • Choose a longer tenure — this reduces your EMI and increases the eligible loan amount
  • Include all income sources such as rental income, bonuses, and incentives in your application
  • Maintain a CIBIL score above 750 to qualify for the best rates and higher eligibility
  • Apply during festive season offers when banks often provide lower interest rates and relaxed criteria

Documents Required for Home Loan Application

Identity Proof

Aadhaar Card, PAN Card, Passport, Voter ID, or Driving License

Address Proof

Aadhaar Card, Utility Bills, Passport, or Bank Statement with address

Employment Proof

Offer Letter, Company ID Card, or Employment Certificate

Income Proof

Last 3-6 months salary slips, ITR (last 2-3 years), and Bank Statements (last 6 months)

Property Documents

Sale Agreement, NOC from builder, Approved Building Plan, and Property Tax Receipts

Frequently Asked Questions

Most banks offer 60 times your monthly income as the maximum loan amount. For a ₹1 lakh/month salary, you may qualify for ₹60 lakhs. Your existing EMIs, credit score, and property value also affect eligibility.

FOIR (Fixed Obligation to Income Ratio) is the percentage of income used for debt repayment. Banks typically allow 40-50% FOIR. Lower FOIR means higher loan eligibility.

Yes. A CIBIL score above 750 increases eligibility and gets better interest rates. Scores below 650 may result in loan rejection or higher rates.

Yes. Add a co-applicant with income, close existing loans, increase loan tenure, or improve your credit score. A higher down payment also reduces the required loan amount.

FOIR (Fixed Obligation to Income Ratio) is the percentage of your income already committed to existing EMIs and obligations. Most banks cap FOIR at 50-60%. If you earn ₹1 lakh and have ₹30,000 in existing EMIs, your remaining eligibility is based on ₹70,000 income.

Yes, most banks include 50-70% of your rental income when calculating loan eligibility. You'll need to provide rental agreements and bank statements showing consistent rent receipts. Self-employed applicants can also include business income with proper documentation.

Yes, CIBIL score is a critical factor. A score above 750 is considered good and qualifies you for the best interest rates. Scores below 700 may result in higher rates or rejection. Check your CIBIL score for free before applying and take steps to improve it if needed.

On a ₹50,000 monthly salary, most banks offer a home loan of ₹25-35 lakh, assuming no existing EMIs, a 20-year tenure, and 8.5% interest rate. The exact amount depends on your age, employer, credit score, and existing obligations.

There's no universal minimum salary requirement, but most banks require a minimum net monthly income of ₹15,000-₹25,000 for salaried applicants. For self-employed, minimum ITR income of ₹2-3 lakh per annum is typically required.

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