Your income and repayment capacity play an important role in determining whether you are eligible for a home loan. The Home Loan Eligibility calculator helps you to understand your home loan eligibility depending on your income and repayment capacity. There are several other factors that determine your home loan eligibility like your credit history, credit score, other financial liabilities etc.

How to use FundsTiger's Home Loan Eligibility Calculator?

• Take-home Salary or Income (Monthly) in ₹ : Input net monthly salary or income.
• Loan Tenure (in Months): Input the desired loan term for which you wish to avail the loan. A longer tenure helps in enhancing the eligibility
• Interest Rate (% p.a.): Input prevailing loan Interest Rate.
• Other EMIs (Monthly): Input total of the EMIs of all other existing loans you may have

Home Loan Eligibility is calculated based on various factors like

Loan Eligibility or loan repayment capacity is primarily dependent on the income and existing loan EMIs of individual(s). There are many other factors that determine the eligibility of loans such as age, financial position, other income, credit history, credit score, other financial obligations such as a Home Loan, Two Wheeler Loan, Consumer Durable Loan, Car Loan, Home Loan, Credit Card debt, etc.

How to increase Home Loan eligibility?

The eligibility for home loan can be enhanced by

• Adding an earning family member as Co-Applicant.
• Providing valid documentary proof for regular Additional Income sources (if any e.g. rental income)
• Keeping a record of your Variable Salary components like Bonus etc.
• Taking actions to rectify errors (if any) in your Credit/CIBIL Score.
• Regular repayment of EMIs of existing loans.

FundsTiger Home Loan Eligibility Calculator facilitates checking eligibility for home loans online. The calculations are estimates, provided only as general help. Actual Results depends on various parameters. We don’t guarantee their accuracy or applicability to your situations.