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Home Loan Eligibility Calculator

Want to know if you are eligible for the home loan or not? Check now with this home loan eligibility calculator online in less than 5 seconds. Enter the required loan amount, loan duration in years, and rate of interest. This calculator will also let you know the amount of an EMI as well.
Your loan eligibility depends on factors like your monthly income, your age, your credit history (CIBIL), and your monthly fixed financial expenses.


Home Loan Eligibility Calculator FAQs

How is Home Loan eligibility calculated?

How much home loan you can get or how much loan you are eligible for depends on a few key factors. The main factor is earning and repayment capability. Other factors that affect your home loan eligibility are - age, the credit history (CIBIL), it's like how you have paid up your previous loans be it vehicle loan, education loan, or personal loan.

How to check your home loan eligibility?

Open the home loan eligibility calculator :
Step 1)Fill in the necessary details
Step 2)An amount will appear after successfully entering all the details.
Step 3) You are eligible to have a home loan of this much amount. 

What is Home Loan Eligibility Criteria?

To check home loan eligibility the two factors that play a vital role are age and the number of working years of the loan seeker.. 

What points affect Home Loan Eligibility Criteria?

The Main Nine Factors are:

  1. Age of the applicant: Applicant present age and remaining working years are crucial. The younger you are the more are your chances of getting more loan. The age of the applicant is one of the key factors when it comes to home loan eligibility. As the maximum loan term is generally 30 years so if you are in your 20s then you can more loan on the same income than what you will get in your 30s with the same income.
  2. Age Limit for Salaried Individuals: 21 to 65 years. Though it may vary from bank to bank in some cases.
  3. Age Limit for Self-Employed Individuals: 21 to 65 years.
  4. Minimum Salary: ₹10,000 p.m.
  5. Minimum business income: ₹2 lac p.a.
  6. Maximum Loan Term: 30 years.
  7. Financial Position: A bank will check your present financial like are you paying any other loan or are you already in debts. Also, the present as well future income of applicant go a long way when it comes to determining the final loan amount.
  8. Past and Present Credit History and Credit Score: If you have cleared all your previous loans irrespective of big or small loans, then you are more eligible for the loan. But you struggle to pay your other loan EMIs then it will be very difficult to get the required loan. it is the simple bank that wants to land its money to someone who can pay easily.
  9. Other on-going loans: If you already have loans like a car loan, or high credit card dues then it will get less home loan. For instance when I applied for 20 lac loan home loan then I was having one more car loan. As a result, the bank said that I cannot get 20 lac then I cleared my 1.20 lac car loan and then I became eligible for a 20 lac home loan.

How to improve Home Loan eligibility?

It is simple if you want a high amount of home loan then clear all your existing small loans. And have a high CIBIL score. Let me put it this way - To improve home loan eligibility clear your existing loans, don’t be a defaulter in payment of your existing loan amount, increase your CIBIL score and have a good source of income for repayment of your loan.