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Home Loan Eligibility Calculator

Home Loan Eligibility Calculator is part of Toolspire and is ready as soon as this page loads. FOIR is the slice of income a lender may allow for all EMIs together. Fifty percent is a planning guess, not your bank’s credit policy.

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On this page

What you can do here

Income left after old EMIs

Car loans, personal loans and other home loans all sit in the existing-EMI box.

Rate and tenure change the principal

The same EMI room buys a smaller loan when the rate is higher or the tenure is shorter.

A hard zero

If capacity is not positive, the page shows ₹0 instead of a negative loan.

The sequence

How to use the Home Loan Eligibility Calculator

  1. 1

    Use gross or net consistently

    Banks differ. If you type in-hand pay, do not also subtract PF again inside existing EMIs.

  2. 2

    Put every current EMI in one box

    Credit-card minimums that you revolve every month belong here too if the lender will see them.

  3. 3

    Drop the FOIR if the bank is stricter

    Try 40% as well as 50%. Use the smaller loan when you compare flats.

Worth knowing

  • Home Loan Eligibility Calculator on Toolspire: eligible EMI room is income × FOIR − existing EMIs. The loan is the principal that room can service.
  • The principal uses the reducing-balance EMI formula. At 0% it is simply room × months.
  • FOIR is capped here at 80%. A result of ₹0 means current EMIs already consume the share you typed.
  • Tenure is rounded to whole months. 20 years is 240 EMIs.

What the number is actually counting

Capacity is the monthly payment still available. The loan equals that payment times the annuity factor (1 − (1+r)^−n) / r, with r as the monthly rate. It ignores the property value, the down payment, the applicant’s age and the credit score. A bank can offer less.

FAQ

Questions about Home Loan Eligibility Calculator

Where does Home Loan Eligibility Calculator run?

Home Loan Eligibility Calculator runs in this tab on Toolspire. What you type or drop in is not sent to us and is not stored on a server.

What is FOIR in a home loan?

Fixed obligation to income ratio: the percentage of monthly income the lender will allow all EMIs to consume. This page lets you type it. It does not know your bank’s grid.

Why is eligibility lower than the flat’s price?

This is the loan, not the price. You still need the down payment, stamp duty and registration on top.

Should I type CTC or in-hand salary?

Use the income figure your bank will accept. In-hand is the cautious choice if you are unsure.

Does a higher tenure always help?

It raises the principal the same EMI can support, and it also raises total interest. Check the amortization page for that interest.

Keep going

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