Calculate the maximum home loan amount you qualify for based on your income, existing EMIs, and FOIR (Fixed Obligation to Income Ratio).
Lenders use FOIR (Fixed Obligation to Income Ratio) to determine your loan eligibility. Typically, FOIR should be 50-60% of your monthly income.
Max EMI = (Monthly Income × FOIR%) - Existing EMIs
Max Loan = Max EMI × [(1+r)^n - 1] / [r(1+r)^n]
Home loan eligibility is dictated by Fixed Obligation to Income Ratio (FOIR). Banks run algorithms to ensure your total monthly EMI outflows do not breach a specific threshold of your net income.
Maximizing your eligibility involves aggressive debt structuring in the months prior to your mortgage application.
The Myth
"My eligibility is purely based on my credit score."
The Fact
Your credit score gets you the loan at a good rate, but your FOIR (income vs existing debt) dictates exactly how much capital the bank will risk on you.
Yes, this Home Loan Eligibility Calculator uses standard financial algorithms to provide highly accurate long-term projections. However, always consult with a certified financial planner before making major investment decisions.
Small, consistent adjustments to your principal or compounding frequency often yield exponentially better results over time. Use this tool to model different scenarios.
This calculator provides the pure mathematical output. You must manually account for taxes, inflation, and platform fees depending on your specific financial institution.