Home Loan Eligibility Calculator
Check your home loan eligibility and maximum qualifying mortgage amount based on monthly salary, FOIR / DTI limits, and loan tenure.
What this calculator does
The Home Loan Eligibility Calculator estimates your result instantly from the values you enter, using standard mortgages formulas. Check your home loan eligibility and maximum qualifying mortgage amount based on monthly salary, FOIR / DTI limits, and loan tenure. Calculations run in your browser, so nothing you type is sent to a server, and the output is an estimate for planning rather than financial advice.
About Home Loan Eligibility Calculator
The Home Loan Eligibility Calculator estimates the maximum home loan amount you can qualify for based on monthly salary, existing debts, loan tenure, and standard bank FOIR / DTI limits.
Formula & Mathematical Calculation
Available Home Loan EMI = ( Net Monthly Income × FOIR % ) - Existing Monthly EMIs
Max Eligible Loan Principal = Available EMI × [ (1 + r)^n - 1 ] / [ r(1 + r)^n ]
Calculation Example
Example: $8,000/mo net salary, $800/mo existing debts, 50% FOIR limit @ 7% for 25 yrs → Max Eligible Loan = $452,736.
Key Benefits
- Accurately calculates maximum qualifying home loan principal
- Considers co-applicant income to boost borrowing capacity
- Accounts for existing personal and vehicle loans
- Helps buyers shop within realistic bank approval limits
- Free and private calculation
How to Use this Calculator
-
Enter Net Monthly Income
Input take-home monthly salary. -
Enter Existing Obligations
Input ongoing monthly debt EMIs. -
Calculate Max Eligibility
Click Calculate to view maximum loan eligibility.
Assumptions & Limitations
What the calculation assumes
- Every value you enter is treated as an exact, known amount.
- Rates and contributions are assumed to stay constant for the whole period unless the form asks for them separately.
- Results use standard financial formulas and ignore fees, penalties and promotional terms that are not entered above.
- Inflation, tax changes and market volatility are not modelled unless a field for them is provided.
- Amounts are unit-agnostic: results are returned in the same currency you enter.
What it does not cover
- Home Loan Eligibility Calculator produces estimates for education and planning, not a quote, offer or professional advice.
- Real-world outcomes differ when fees, taxes, rounding rules or provider-specific terms apply.
- Local regulations and tax rules vary by country and change over time; verify current rules for your jurisdiction.
- Figures are only as accurate as the inputs you supply — check them before acting on the result.
- For decisions with lasting financial impact, confirm the numbers with a qualified professional.
Frequently Asked Questions
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Next step: browse the full Mortgages calculators or read the related guides for context before you decide.