Home Loan Eligibility Calculator
The Home Loan Eligibility Calculator estimates the maximum loan amount you can get based on your monthly income and existing debt obligations. Banks use the FOIR (Fixed Obligations to Income Ratio) norm — typically 50% of net monthly income — to determine eligibility.
Educational estimate. Calculator results are for planning and information only, not financial, tax, medical, legal, or engineering advice. Verify important decisions with official sources or a qualified professional.
Home Loan Eligibility Calculator
Maximum Home Loan Amount You Can Get
📐 Formula & Method
FOIR-Based Eligibility
Eligible Loan = Max EMI × [(1+r)ⁿ − 1] / [r × (1+r)ⁿ]. Where r = monthly rate, n = months.
📋 How to Use
-
1
Enter your net monthly take-home salary.
-
2
Enter total existing monthly EMIs (car loan, personal loan, etc.).
-
3
Enter the expected home loan interest rate.
-
4
Enter your desired loan tenure.
-
5
Click Calculate to see your maximum eligible loan amount.
How Banks Calculate Home Loan Eligibility
Banks and housing finance companies use the FOIR (Fixed Obligations to Income Ratio) to assess home loan eligibility. The typical FOIR limit is 40–50% of net monthly income — meaning total EMIs (including the proposed home loan EMI) should not exceed half your take-home pay.
Your credit score significantly impacts eligibility. A CIBIL score above 750 typically gets you the best rates and higher eligibility multiples. Below 650, many lenders reject applications outright or charge 1–2% higher rates.
Income multiplier method: Banks also use an income multiplier (typically 60–72 times monthly income for salaried employees) as a cross-check. The actual eligible amount is the lower of the FOIR-based and income multiplier calculations.
🔬 Methodology & Accuracy
Formula: Uses the standard mathematical formula shown in the Formula & Method section above. All computations run client-side in your browser — no data is sent to our servers.
Data sources: Tax bands, contribution limits and regulatory rates are taken from official US (IRS, SSA) and UK (HMRC, gov.uk) publications for the current tax year, and updated when bands change.
Last reviewed: June 2026 · Accuracy: Results are precise to two decimal places using IEEE-754 double-precision arithmetic. Intended for educational and planning use only.
For informational purposes only. Results are estimates based on the inputs and formulas provided. For financial, tax, medical, or legal decisions, consult a qualified professional. Rates and regulations change — always verify current figures with official sources.