Home Loan Eligibility Calculator


Interest Rate
Tenure (in months)

Loan EMI


Total Interest Payable


Total Amount


Home Loan Eligibility Calculator

A home loan eligibility calculator is a tool provided by banks, financial institutions, and online mortgage websites to help individuals estimate how much home loan they may be eligible for based on their financial information. The exact criteria and calculations may vary from one lender to another, but here are some common factors that are typically considered in a home loan eligibility calculation:

Income: Lenders typically consider your gross monthly income to determine your eligibility. This includes your salary, business income, rental income, and other sources of regular income. The higher your income, the higher your eligibility.
Monthly Expenses: Lenders will also assess your monthly expenses, including existing loan EMIs (if any), credit card payments, utility bills, and other regular expenses.

Lower expenses will increase your eligibility.

Age: Your age is an important factor because it determines the loan tenure you are eligible for. Younger borrowers may be eligible for longer loan tenures, which can increase their eligibility.
Credit Score: Your credit score reflects your creditworthiness. A higher credit score indicates lower credit risk and can improve your eligibility for a home loan.
Loan Tenure: The loan tenure you choose will affect your eligibility. Longer tenures may result in lower EMIs but may also lower your eligibility.
Existing Loans: If you have other outstanding loans or liabilities, it can reduce your eligibility because it affects your ability to take on additional debt.
Down Payment: The amount you can contribute as a down payment also affects your eligibility. A larger down payment can increase the amount you are eligible to borrow.
To use a home loan eligibility calculator, you typically need to provide details such as your monthly income, monthly expenses, age, and desired loan tenure. The calculator will then give you an estimate of the maximum loan amount you are eligible for based on the lender’s criteria.

Keep in mind that this is just an estimate, and the actual loan amount you are approved for may vary depending on the lender’s policies and your individual financial situation. It’s always a good idea to consult with a lender or mortgage broker to get a more accurate assessment of your home loan eligibility.

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