Priyanka Personal Finance
Smart Money · Simple Words · India
Smart Money · Simple Words · India
Enter your salary and see the maximum home loan you can get, the property price you can afford, your EMI and EMI-to-income ratio — plus a bank-wise comparison. Works backwards from your income.
| Bank | Rate | Max loan |
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Estimate only · Not a loan sanction · Uses a 50% FOIR cap & illustrative bank rates · Actual eligibility depends on credit score, employer, age & bank policy · Rates change
Lenders decide your loan by working backwards from your income. They cap your total EMIs — a measure called FOIR (Fixed Obligation to Income Ratio) — at roughly 40–55% of net income. Whatever is left after your existing EMIs is the maximum EMI you can pay, and from that (using the rate and tenure) they arrive at your maximum loan. Add your down payment and you get the property price you can afford. A useful rule of thumb: many salaried buyers qualify for around 55–65× their monthly income.
Budget for stamp duty and registration (roughly 5–8% of property value), processing fees, and one-time costs like interiors and society charges. Banks fund about 75–90% of the property, so plan for at least a 10–20% down payment plus these extras from your own funds. Our Stamp Duty Calculator can help.
Banks usually let your total EMIs be about 40–55% of your net monthly income. From that they work out the maximum EMI you can pay and, using the interest rate and tenure, the maximum loan. As a rough guide, many salaried buyers qualify for a loan of about 55–65 times their monthly income.
FOIR (Fixed Obligation to Income Ratio) is the share of your income that goes to all EMIs. Lenders typically cap it around 40–55%. Existing loans and card EMIs reduce how much new home loan you can take.
Banks fund about 75–90% of the property value, so you usually need at least 10–20% as down payment, plus stamp duty and registration (roughly 5–8% more). A bigger down payment means a smaller loan and lower EMIs.
Not necessarily. Being eligible for the maximum is not the same as it being comfortable. Keeping your home-loan EMI around 30–40% of income leaves room for other goals, emergencies and rate hikes.