Home loan eligibility calculator

How this is calculated

Max EMI = income × FOIR − existing EMIs. Loan = Max EMI × ((1 + r)^n − 1) ÷ (r × (1 + r)^n), the inverse of the EMI formula.

Worked example

₹1,00,000 income, 50% FOIR, ₹10,000 existing EMIs, 9% for 20 years: max EMI ₹40,000, loan ≈ ₹44.4 lakh.

Assumptions

• FOIR is an admin setting and varies by lender.
• Lenders also consider credit score, age and the property value.

Frequently asked questions

What is FOIR?

The fixed obligation to income ratio: the share of your monthly income a lender lets you spend on all EMIs combined.