Home Loan Eligibility Calculator

Need to know how much home loan you can get? Try the home loan eligibility calculator online. It's a simple tool that shows you the final loan amount you qualify for in just a few clicks.

Find out how much loan amount you're eligible today!

Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Home Loan Eligibility Criteria

Banks and NBFCs have common parameters for home loan eligibility to assess the applicant’s ability to repay the loan. However, each lender may also have specific criteria as per their own requirements. Understanding the criteria for qualifying for a home loan ensures a smoother and easier application process.

The table below presents the overview of home loan eligibility criteria:

Particulars Eligibility Criteria
Nationality Indian Residents
Non-Resident Indians (NRIs)
Persons of Indian Origin (PIOs)
Age 18 years to 70 years
Employment Salaried with at least 2 years of work experience.
Self-Employed with at least 3 years of business continuity
Credit Score Minimum 750 and above

Read More

Read Less

Ready to take the next step? Apply now!

How to Use the Home Loan Eligibility Calculator?

The Home Loan Eligibility Calculator provides a user-friendly interface to assess your borrowing capacity. In the following steps, we'll guide you on how to navigate the calculator efficiently, ensuring you gain insights into the loan amount you qualify for.

Step 1: Visit the Home Loan Eligibility Calculator page.

Step 2: Enter your monthly income details.

Step 3: Input the current EMIs or existing obligations.

Step 4: Your final eligible loan amount will be displayed.

By utilizing the home loan eligibility calculator, you can seamlessly apply for a personal loan for home purchase or renovation online with Buddy Loan.

How is Home Loan Eligibility Calculated?

Lenders calculate an applicant's home loan eligibility mainly based on their income, loan repayment capacity, and the value and attributes of the pledged property. Other factors considered in assessing eligibility include credit score, age, occupation profile, job/business stability, and employer's profile.

Factors Affecting Home Loan Eligibility

Several factors influence home loan eligibility. Here are the key considerations that lenders typically take into account:

Income: The applicant's income is a fundamental factor. A higher income often results in higher loan eligibility. Thus, loan eligibility is also dependent on salary / income.

Credit Score: A good credit score indicates creditworthiness and can positively affect loan eligibility.

Age: Age can affect eligibility as it determines the loan tenure. Younger applicants may have longer tenures, potentially impacting eligibility.

Existing Debts: The presence of existing loans or outstanding debts can influence eligibility, as it affects the applicant's ability to repay.

Employment Stability: Lenders prefer applicants with a stable employment history, showing a steady income source.

Loan Tenure: The chosen loan tenure affects eligibility. A longer tenure may increase the eligible loan amount but could cause higher overall interest payments. Thus, it is wiser to calculate your EMI and plan in advance.

Property Value: The value and type of the pledged property also play a role. Lenders may finance a percentage of the property value, and the property itself serves as collateral.

Lenders commonly use home loan eligibility calculators to evaluate these factors and offer applicants an estimate of the maximum loan amount for which they qualify. Therefore, check your eligibility using the home loan eligibility calculator mentioned above before applying for a home loan.

Not sure of your credit score? Check now for free!

Check Your Credit Score for Free

Also get a Free Credit Report

Frequently Asked Questions

Criteria for getting a home loan typically include a stable income, good credit score, and the value of the property being financed.

The eligible age for a home loan is usually between 18 and 70 years, but it varies among lenders.

The loan amount depends on factors like your salary, existing debts, and the lender's policies. You can use a home loan eligibility calculator to get an estimate.

The home loan amount based on salary varies. It's influenced by factors such as your income, existing debts, and the lender's criteria.

The loan amount for a salary of 50,000 depends on various factors and lender policies. Using a home loan eligibility calculator can provide an estimate.

Factors include income, credit score, age, existing debts, employment stability, property value, and the type of property.

Yes, income is a significant factor in determining loan eligibility. A higher income often increases the eligible loan amount.

The minimum salary requirement varies among lenders. A stable and sufficient income is essential for loan approval.

Individuals with poor credit history, unstable income, or insufficient repayment capacity may face challenges in securing a housing loan.

To increase eligibility, improve your credit score, minimize existing debts, consider a joint application, and choose a longer loan tenure to reduce the EMI burden.

Display of trademarks, trade names, logos, and other subject matters of Intellectual Property displayed on this website belongs to their respective intellectual property owners & is not owned by Bvalue Services Pvt. Ltd. Display of such Intellectual Property and related product information does not imply Bvalue Services Pvt. Ltd company’s partnership with the owner of the Intellectual Property or proprietor of such products.

Please read the Terms & Conditions carefully as deemed & proceed at your own discretion.