What is a Home Loan Eligibility Calculator?
Lenders do not approve home loans from salary alone. Existing EMIs consume part of the monthly cash flow a lender may consider available for total debt servicing. This calculator makes that mechanism visible through an editable FOIR assumption.
FOIR is not a universal approval rule. Actual underwriting can also consider age, employment, credit history, property, loan-to-value and lender policy.
Income-to-EMI capacity model
The result is an affordability estimate, not a sanction amount.
Existing EMIs reduce eligibility twice
They are already cash outflows and they also consume the lender’s assumed debt-service capacity. Closing a small loan before applying can therefore affect eligibility more than simply adding the same amount to a down payment.
Frequently asked questions
Is 50% FOIR an RBI rule?
No. It is an editable underwriting assumption and lender practices differ.
Does co-applicant income always count fully?
No. Eligibility depends on lender policy and the co-applicant’s own profile and obligations.
Why can a longer tenure increase the estimated eligible loan?
The same monthly EMI can support a larger principal when repayment is spread over more months, though total interest also rises.