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About this tool
Find the maximum property price you can afford from your income, EMI capacity, down payment, LTV cap and registration costs.
The Home Affordability Calculator works backwards from your salary to the highest property price you can realistically buy. It applies the FOIR rule lenders use (a fixed share of net income available for all EMIs), converts that EMI capacity into a loan amount with the reducing-balance formula, then checks it against your down payment, the bank's loan-to-value cap and the stamp duty and registration you must pay from your own pocket. It is built for first-time buyers and upgraders who want a budget before they start site visits.
Open Home Affordability Calculator on AltFTool — it loads instantly in your browser.
Enter 'Monthly net income (INR)' and 'Existing monthly EMIs (INR)', then set 'FOIR — income share lenders allow (%)' by typing it or tapping the FOIR 40%, 50%, 55% and 60% buttons underneath.
Add the loan and cash side: 'Home loan interest rate (% per year)' and 'Tenure (years)', which start at 8.5 and 20, 'Cash available for down payment (INR)', 'Maximum loan-to-value the bank allows (%)' — refused above 90 under RBI norms — and 'Stamp duty, registration & other costs (% of price)'.
'Property price you can afford' appears with whether it is limited by your income and EMI capacity or by the down payment / LTV cap, alongside the monthly EMI, cash needed on day one, total interest and total outgo. 'Copy result' puts that summary on the clipboard.
Deducts existing EMIs first, so the budget reflects what an underwriter would approve rather than gross salary alone.
Stamp duty and registration are taken out of your savings before the down payment, which is where most budgets slip.
Shows whether income or down payment is capping your price, so you know which one to fix.
FOIR (fixed obligation to income ratio) is the share of your net monthly income a lender lets all your EMIs consume. Most Indian banks work with 40% to 55%, allowing the higher end for higher incomes, so 50% is a reasonable default.
RBI norms cap the loan-to-value at 90% for homes up to INR 30 lakh, 80% between INR 30 lakh and 75 lakh, and 75% above INR 75 lakh. The cap applies to the property value only, not to stamp duty or registration.
Generally no. Stamp duty is typically 4% to 7% of the agreement value depending on the state, plus around 1% registration, and lenders expect you to pay it in cash — which is why this calculator deducts it from your savings first.
It raises the loan a given EMI can service, but with diminishing returns: past roughly 20 years each extra year adds very little loan and a lot of interest, because almost the entire early EMI goes to interest.
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