How Much Home Loan Can I Afford?
Enter your income, obligations, and credit score to estimate the home loan you could get — and the amount you can comfortably carry. All private to your browser.
Your numbers
You can comfortably borrow about 🦉
₹46,09,234Lenders may sanction up to ₹57.62L, but staying near the comfortable figure leaves room for life.
Comfortable EMI
₹40,000
Max EMI capacity
₹50,000
Credit: Very good
~8.6% rate
● High approval odds
Comfortable vs maximum loan
How much home loan can I afford?
Lenders decide how much to lend using your income, your existing EMIs, and your credit score. The core rule is the FOIR — Fixed Obligation to Income Ratio — which caps how much of your monthly income can go towards all loan EMIs combined, typically 40–55%.
Whatever EMI capacity is left after your existing obligations, at the current interest rate and tenure, determines the loan you qualify for. The calculator above turns that into a rupee figure — and also shows a more conservative "comfortable" amount, because borrowing the maximum leaves no breathing room for emergencies, rate hikes, or life changes.
How lenders calculate your eligibility
- Maximum total EMI = your net monthly income × FOIR (say 50%).
- Available EMI for the home loan = maximum total EMI − your existing EMIs.
- Loan amount = the principal that available EMI can service at the offered rate over the tenure.
So two people with the same salary can qualify for very different loans if one already has a car or personal loan eating into their FOIR.
Why your credit score matters twice
Your credit score (CIBIL and others, 300–900) affects the decision in two ways:
| Score band | Approval odds | Indicative rate |
|---|---|---|
| 800+ (Excellent) | High | ~8.5% |
| 750–799 (Very good) | High | ~8.6% |
| 700–749 (Good) | Moderate | ~9.0% |
| 650–699 (Fair) | Low | ~9.75% |
| Below 650 (Poor) | Unlikely | ~11%+ |
A higher score improves both your chance of approval and the rate you're offered — and a lower rate means a bigger loan for the same EMI. Improving your score before applying can be worth lakhs.
Comfortable vs maximum: don't borrow to the hilt
The maximum a bank will lend is not the amount you should borrow. Stretching to the top of your FOIR leaves you fragile — a job change, medical bill, or rate hike can turn a comfortable EMI into a struggle. The tool's "comfortable" figure uses a lower obligation ratio so you keep a cushion.
How to increase how much you can borrow
- Clear or reduce existing EMIs — every EMI you close frees up FOIR capacity.
- Improve your credit score — pay on time, lower card utilisation, fix report errors.
- Add a co-applicant — a spouse's income can raise the combined eligibility.
- Choose a longer tenure — raises eligibility, but increases total interest (see the trade-off in the EMI Calculator).
Related tools
- EMI Calculator — the exact instalment on the loan you take.
- Rent vs Buy — should you take that loan at all, or keep renting?
- Prepay Loan vs Invest — what to do with spare cash once you have the loan.
Frequently asked questions
How is home loan eligibility calculated in India?
Lenders cap your total EMIs at a share of income (the FOIR, usually 40–55%). The loan you qualify for is the amount whose EMI — after subtracting your existing EMIs — fits within that cap, at the offered rate and tenure.
What credit score do I need for a home loan?
A score of 750+ generally gets the best rates and easy approval. Between 650 and 750 approval is possible but at higher rates; below 650 approval becomes difficult and expensive.
Does a higher salary always mean a bigger loan?
Not necessarily. Existing EMIs reduce your available capacity, and a lower credit score raises your rate (shrinking the loan a given EMI can service). Income is only one of the three levers.
Should I borrow the maximum the bank offers?
Usually no. Borrowing to the top of your FOIR leaves no margin for emergencies or rate rises. A comfortable amount, below the maximum, is safer.
How can I increase my home loan eligibility?
Close existing loans, improve your credit score, add an earning co-applicant, or opt for a longer tenure (accepting more total interest).