Free tool
How much home loan can I get?
Enter your take-home pay and the EMIs you already pay. You will get a rough idea of what a bank may lend you for your first home.
A rough estimate. Each lender also looks at your credit score, age, job and the home itself.
How banks decide what to lend
When you apply for a home loan, the bank’s first question is simple: how much EMI can you afford each month without strain? To answer it, most lenders use FOIR, the fixed obligations to income ratio. It is the share of your monthly take-home pay that all your loan EMIs together may use. If the bank allows 50% and you already pay ₹10,000 a month for a car, that ₹10,000 comes out of the 50% first. Whatever is left is the room for your home loan EMI.
From that monthly room, the bank works backwards: at today’s interest rate and your chosen tenure, what loan would that EMI repay? That is the figure the calculator shows as “you may be able to borrow”.
What raises your eligibility
- A co-applicant: an earning spouse or parent adds their income to yours.
- Fewer existing EMIs: closing a small loan frees up room every month.
- A longer tenure: more years means the same EMI repays a bigger loan, though you pay more interest.
- A good credit score: it can earn a lower rate, which also raises the loan a given EMI can carry.
Eligible is not the same as comfortable
The largest loan a bank offers is not always the right loan for you. A first home brings new monthly costs: maintenance, insurance, perhaps a longer commute. Many buyers aim for an EMI they could still pay if one income paused for a few months. Use the EMI calculator to test a smaller loan, and the down payment calculator to see how much of your own money you will need.
Remember the bank lends only up to a set share of the home’s cost (RBI’s loan-to-value limit), so you will always need some savings of your own. These results are indicative only; your lender decides after checking your documents. The first-home guide lists the papers banks usually ask for. Buying as a couple? See how a joint home loan with your spouse works.
Other tools that help
- Home Loan EMI CalculatorSee your monthly instalment, the total interest and how the loan falls each year.
- Karnataka Stamp Duty CalculatorStamp duty, cess, surcharge and registration fee for a flat in Karnataka.
- Down Payment CalculatorHow much cash you need before you buy, with the RBI loan limits built in.
- Home Loan Prepayment CalculatorSee how much interest and how many months a part-payment can save.
- Amortisation ScheduleMonth by month: how much of each EMI is interest and how much is principal.
- How Much House Can I Afford?A home price that fits your pay, savings and comfort level.
- Rent vs Buy CalculatorCompare the cost of renting with buying over the years you plan to stay.
- TDS on Property Purchase (s.194-IA)The 1% TDS you deduct and deposit when a home costs ₹50 lakh or more.
- GST on an Under-Construction FlatGST on your instalments, split into CGST and SGST.
- Home Loan Tax Benefit CalculatorA rough idea of the tax you may save on interest and principal.
- Tamil Nadu Stamp Duty CalculatorStamp duty and registration for a home on the Tamil Nadu side of the border.
- Carpet Area CalculatorAdd up room sizes to check the usable carpet area of a flat.
- Area Unit ConverterSwitch between sq ft, sq m, guntha, cent, acre and more.
- Khata CheckerThree questions to tell whether your khata paper is A, B, e-khata or panchayat.
- RERA Number DecoderSee what each part of a Karnataka RERA number means, and how to check it.
- First-home guideEvery step of buying your first flat in Bengaluru, from budget to handover.
- The Shalott Marque54 homes, 2 and 3 BHK, at S Medihalli on Sarjapur–Attibele Road. Price on request.
FAQ
Questions people ask
What is FOIR?
FOIR means fixed obligations to income ratio: the share of your monthly take-home pay that all your EMIs together are allowed to use. If a bank uses 50% and you take home ₹1 lakh, your EMIs together should stay under ₹50,000. Many lenders work between 40% and 60%, depending on your income and profile.
Can my spouse or a parent apply with me?
Yes. Adding an earning co-applicant adds their income, so the bank may lend more. Many banks ask that co-owners also be co-borrowers. Add both take-home salaries in the calculator and include both sets of existing EMIs.
Why is the bank offering less than this calculator?
Banks also check your credit score, age (the loan usually has to end before retirement), job stability and the home’s value. They will not lend more than RBI’s loan-to-value limit either, which is 75–90% of the home’s cost. This tool gives a starting point, not a decision.
Does closing a small loan help my eligibility?
Often, yes. Every rupee of existing EMI cuts into the room for your home loan. Closing a car or personal loan before you apply can raise the home loan you qualify for by several lakh. Try setting existing EMIs to zero above and compare.
Is my credit score important?
Very. A good score (many lenders look for 750 or above) can get you a better rate and a smoother approval. Check your free credit report a few months before you apply, and fix any mistakes on it.
Ready to look at a real home?
Once your numbers feel right, come and see The Shalott Marque at S Medihalli. Ask us anything about the homes, the paperwork or the loan; we will explain it plainly.