Home Loan Eligibility Calculator Widget

Add a home loan eligibility calculator that works the way Indian lenders do. Readers enter net monthly income, existing EMIs, the FOIR limit, rate and tenure and see the largest EMI they can take on and the loan it supports.

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<iframe src="https://a2z.tools/embed/w/home-loan-eligibility" title="Home Loan Eligibility Calculator by A2Z Tools" width="100%" height="710" style="border:0;width:100%" loading="lazy" allow="clipboard-write"></iframe>

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How it works

Lenders cap total EMIs at a share of net monthly income called the FOIR (fixed obligations to income ratio). FOIR is an internal credit-policy figure set by each bank or housing finance company, not a regulatory limit, and commonly sits somewhere between 40% and 65% depending on income. The widget takes that share, subtracts existing EMIs to get the largest new EMI, then finds the loan whose standard reducing-balance EMI equals it at the chosen rate and tenure. It then reminds readers that the RBI separately caps a housing loan as a share of the property value.

Calculation method

  • Maximum EMI E = net monthly income x FOIR % / 100 - existing EMIs
  • Loan = E x ((1 + r)^n - 1) / (r (1 + r)^n)
  • r = annual rate / 12 / 100, n = tenure in years x 12
  • At 0%: loan = E x n; total repayment = E x n; total interest = E x n - loan
  • Amounts are displayed to whole rupees (or currency units) with Intl.NumberFormat; nothing is rounded before display

Worked examples

Salaried single applicant

Inputs: Net income Rs 1,00,000 a month, existing EMIs Rs 10,000, FOIR 50%, 8.5% for 20 years

Result: Maximum EMI Rs 40,000; eligible loan about Rs 46,09,234; total interest Rs 49,90,766 over 240 months

Half the income is Rs 50,000; the existing Rs 10,000 EMI leaves Rs 40,000. At 8.5% over 20 years the EMI per lakh is about Rs 867.82, so the loan is about 46.09 lakh.

Higher FOIR, longer tenure

Inputs: Net income Rs 1,50,000, existing EMIs Rs 25,000, FOIR 55%, 8.75% for 25 years

Result: Maximum EMI Rs 57,500; eligible loan about Rs 69,93,912; total repayment Rs 1,72,50,000

55% of Rs 1,50,000 is Rs 82,500, less Rs 25,000 of EMIs. Under the RBI bands a loan of this size needs a property worth at least about Rs 87.4 lakh (80% LTV).

Indicative only - not a loan sanction. Each lender applies its own FOIR, LTV and credit criteria.

Limitations

  • The FOIR you enter is an assumption; the widget does not know any lender's credit policy, which may vary by salary band, employer category or self-employment.
  • It does not apply the RBI loan-to-value cap itself - compare the result with 75-90% of the property value you have in mind.
  • Processing fees, insurance bundled into the loan, floating-rate resets and age-at-maturity limits on tenure are not modelled.

Where publishers use it

  • Home-loan DSAs' and mortgage advisors' websites
  • Builder and project microsites showing what buyers can borrow
  • Salary and HR portals with home-buying guidance
  • Personal-finance blogs explaining FOIR and co-applicants

Questions

What is FOIR?

Fixed obligations to income ratio: the share of your net monthly income that all EMIs together may take. It is lender practice rather than an RBI rule, so two banks can quote different eligibility for the same salary; many use about 50%, going higher for larger incomes.

Will I get this exact loan amount?

Not necessarily. Under the RBI's loan-to-value limits for individual housing loans from commercial banks, a loan of up to Rs 30 lakh may be at most 90% of the property value, a loan above Rs 30 lakh and up to Rs 75 lakh at most 80%, and a larger loan at most 75%. So the default result of about Rs 46 lakh needs a property worth at least Rs 57.6 lakh. Lenders also weigh credit score, age at maturity, employment and the property itself.

Do credit-card dues count as existing EMIs?

Usually yes. Lenders typically count a share of card outstanding or the minimum due, plus car, personal and education loan EMIs. Include them in existing EMIs; a card you clear in full each month may be treated differently by different lenders.

How does a co-applicant help?

Adding an earning co-applicant's net income raises the FOIR limit and so the maximum EMI. Enter the combined income and combined existing EMIs.

Why does a longer tenure raise eligibility?

The same EMI repays a larger loan when spread over more months, though the total interest paid rises too.

Sources

  1. Individual Housing Loans: Rationalisation of Risk-Weights and Loan to Value (LTV) Ratios (RBI/2016-17/317) - Reserve Bank of India . 7 June 2017 circular to commercial banks setting LTV caps of 90% (loans up to Rs 30 lakh), 80% (above Rs 30 lakh to Rs 75 lakh) and 75% (above Rs 75 lakh). Housing finance companies follow separate RBI directions; FOIR itself is lender practice with no regulatory source.

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A2Z Tools Home Loan Eligibility Calculator
https://a2z.tools/embed/home-loan-eligibility

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