Buying a home is one of the biggest financial decisions in life. Before applying, it is essential to understand how much home loan you are eligible for based on your salary, age, and financial profile.
This guide explains home loan eligibility in India, provides a salary-wise & age-wise breakdown, and helps you calculate your loan amount easily.
What Is Home Loan Eligibility?
Home loan eligibility is the maximum loan amount a bank or lender is willing to offer you. It depends on multiple factors such as income, age, credit score, and existing financial obligations.
👉 Higher eligibility = better property options
👉 Lower eligibility = higher own contribution required
Home Loan Eligibility Calculator (Quick Formula)
Most Indian banks use this simple formula:
Home Loan Eligibility = 60% of Net Monthly Income – Existing EMIs
Example:
If your monthly salary is ₹50,000
Eligible EMI ≈ ₹30,000
Loan amount depends on tenure & interest rate.
Salary-Wise Home Loan Eligibility (India)
| Monthly Salary | Approx Loan Eligibility |
|---|---|
| ₹25,000 | ₹18–22 lakh |
| ₹40,000 | ₹30–35 lakh |
| ₹60,000 | ₹45–55 lakh |
| ₹80,000 | ₹65–75 lakh |
| ₹1,00,000 | ₹85 lakh – ₹1 crore |
📌 Final amount may vary based on credit score and liabilities.
Age-Wise Home Loan Eligibility
Age plays a very important role in loan approval.
| Age Group | Maximum Tenure |
|---|---|
| 21–30 years | Up to 30 years |
| 31–40 years | Up to 25 years |
| 41–50 years | Up to 20 years |
| 51–60 years | Up to 10–15 years |
👉 Younger borrowers get higher eligibility & lower EMI.
Factors That Affect Home Loan Eligibility
1️⃣ Monthly Income
Higher income = higher loan eligibility.
2️⃣ Credit Score (CIBIL)
- 750+ → Best interest rates
- 650–749 → Approval possible
- Below 650 → Limited options
👉 Improve score before applying (see INTERNAL LINK: Credit Score Improvement Tips).
3️⃣ Existing Loans or EMIs
Personal loan, car loan, or credit card EMIs reduce eligibility.
4️⃣ Employment Type
- Salaried employees = easier approval
- Self-employed = income stability required
Documents Required for Home Loan Eligibility
- Identity Proof (Aadhaar / PAN)
- Address Proof
- Salary slips (last 3–6 months)
- Bank statements
- Income tax returns (self-employed)
- Property documents
How to Increase Your Home Loan Eligibility
✔ Close existing loans
✔ Add co-applicant (spouse or earning family member)
✔ Choose longer loan tenure
✔ Maintain stable job history
👉 If eligibility is still low, check INTERNAL LINK: Loan Against Property Options.
Home Loan vs Other Loan Options
Sometimes, a home loan may not be the best fit. You can explore:
- Personal Loan Interest Rates Comparison
- Business Loan Without Collateral
- Best Credit Cards for Salaried People
Final Thoughts
A home loan eligibility calculator helps you plan your dream home realistically. Knowing your eligibility before applying improves approval chances and saves time.
📌 Always compare lenders and interest rates before finalizing your loan.
🔔 Pro Tip:
Use eligibility tools from multiple banks to get the best possible deal.