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Home Loan Eligibility Calculator

Find out how much home loan you can get from your income, existing EMIs, tenure and interest rate. The calculator applies a lender-style EMI cap, converts your maximum EMI into a loan amount, and gives you a clear eligible or not-eligible verdict.

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Verdict

Maximum affordable EMI
$0
Maximum eligible loan
$0
Suggested home budget
$0
Down payment share
0%

Eligible loan at different EMI caps

EMI cap (% of income)Maximum EMIMaximum eligible loan

Maximum eligible loan uses the present value of an annuity at your chosen tenure and interest rate. The suggested home budget is the eligible loan plus your down payment.

How this calculator works

First it finds your maximum affordable EMI: income times the lender EMI cap, minus your existing monthly EMIs. Then it converts that EMI into a loan amount with the present value of an annuity formula, using your tenure and interest rate. If the result leaves no room for a new EMI, the verdict explains why and lists realistic fixes: raise income, reduce existing debts, extend the tenure, or wait for a lower rate. All calculations run in your browser — your numbers never leave your device.

Frequently asked questions

The calculator first finds your maximum affordable monthly EMI: your income times the lender EMI cap percentage, minus your existing loan EMIs. It then converts that EMI into a loan amount with the present value of annuity formula: loan equals EMI times one plus monthly rate to the power of months minus one, divided by monthly rate times one plus monthly rate to the power of months. With a zero interest rate, the loan is simply EMI times months.

Lenders cap your total monthly installments at a percentage of your income, usually 40 to 60 percent. The slider lets you set this cap yourself, because different banks use different limits. A lower cap gives a smaller eligible loan; a higher cap increases the loan but also your monthly burden.

It means your existing EMIs already use up the income share lenders allow, so there is no room left for a new home loan EMI. The tool suggests the realistic fixes: raise your income, close or reduce existing loans, choose a longer tenure, or wait for a lower interest rate.

Your suggested home budget is the maximum eligible loan plus the down payment you entered. The tool shows what share of that budget your down payment covers. Since most lenders want around 20 percent down, it warns you when your share is below that level so you can plan your savings.

Yes. Every calculation runs in your browser with JavaScript. Your income, EMIs and other numbers are never sent anywhere and nothing is stored.

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