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About this tool
Estimate home loan eligibility from income, existing EMIs, tenure and age using FOIR limits and RBI loan-to-value ceilings.
This calculator estimates the home loan a lender is likely to sanction by applying two tests at once: the FOIR (Fixed Obligation to Income Ratio) cap on how much of your monthly income can go to EMIs, and the RBI loan-to-value ceiling on how much of the property value can be financed. The EMI you can afford is capitalised into a principal with the reducing-balance present value formula P = EMI x (1 - (1 + r)^-n) / r, and the sanction is the lower of the income-based and LTV-based limits. It is built for first-time buyers sizing a budget before they pay a booking amount.
Open Home Loan Eligibility Calculator on AltFTool — it loads instantly in your browser.
Enter the values you already know.
Fine-tune the options to match your scenario.
Read the result and use it in your planning or reporting.
Tells you whether income or the LTV ceiling is capping your loan.
Trims the tenure so the loan closes by 60 for salaried or 65 for self-employed borrowers.
Reports the own contribution and effective LTV, not just the loan figure.
At a net income of Rs 1 lakh a month with no existing EMIs, a 60% FOIR allows an EMI of about Rs 60,000, which capitalises to roughly Rs 69 lakh over 20 years at 8.5%. Existing EMIs are deducted from that allowance rupee for rupee, so a Rs 10,000 car loan EMI cuts the eligible amount to about Rs 58 lakh.
FOIR is the share of your monthly income that a lender lets you spend on all fixed obligations combined, including the new EMI. Indian lenders commonly allow 50% at lower incomes rising to about 65% at higher incomes, because a high earner keeps more residual income after the same percentage is taken.
RBI norms cap housing loan LTV at 90% of property value for loans up to Rs 30 lakh, 80% for loans above Rs 30 lakh up to Rs 75 lakh, and 75% above Rs 75 lakh. Stamp duty and registration charges are excluded from the property value used for this test, so budget for them separately.
Lenders want the loan repaid by superannuation, usually age 60 for salaried and 65 for self-employed borrowers, so a 50-year-old salaried applicant gets at most a 10-year tenure. A shorter tenure means a higher EMI per rupee borrowed, which shrinks the principal the same FOIR allowance can support. Adding a younger co-applicant is the usual way around this, and a lender or financial adviser can confirm what your case allows.
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