Home Loan Eligibility Calculator

These calculators are provided only as general self-help Planning Tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances.
NRI should input net income.

What is Home Loan Eligibility?

Home loan eligibility is defined as a set of criteria basis which a financial institution assesses the creditworthiness of a customer to avail and repay a particular loan amount. Home loan eligibility depends on criteria such as age, financial position, credit history, credit score, other financial obligations etc.

Illustration : How Much Loan Can I Avail?

For e.g. If a person is 30 years old and has a gross monthly salary of ₹30,000, he can avail a loan of ₹20.49 lakh at an interest rate of 6.90% for a tenure of 30 years provided he has no other existing financial obligations such as a personal loan or car loan etc.

How is Home Loan eligibility calculated?

Housing loan eligibility is primarily dependent on the income and repayment capacity of the individual(s).There are other factors that determine the eligibility of home loans such as age, financial position, credit history, credit score, other financial obligations etc.

Home Loan Eligibility Criteria

• Present Age and Remaining Working Years: The age of the applicant plays a major role in determining home loan eligibility. The maximum loan term is generally capped at 30 years.
• Age Limit for Salaried Individuals: 21 to 65 years .
• Age Limit for Self-Employed Individuals: 21 to 65 years.
• Minimum Salary: ₹10,000 p.m.
• Minimum business income: ₹2 lac p.a.
• Maximum Loan Term: 30 years.
• Financial Position: The present and the future income of applicant(s) has a significant impact on determining the loan amount.
• Past and Present Credit History and Credit Score: A clean repayment record is considered positive.
• Other Financial Obligations: Existing liabilities such as a car loan, credit card debt, etc.

How to enhance Home Loan eligibility?

The eligibility for Home Loan can be enhanced by

• Adding an earning family member as co-applicant.
• Availing a structured repayment plan.
• Ensuring a steady income flow, regular savings and investments.
• Furnishing details of your regular additional income sources.
• Keeping a record of your variable salary components.
• Taking actions to rectify errors (if any) in your credit score.
• Repaying ongoing loans and short terms debts

How to use HDFC Bank’s Eligibility Calculator?

HDFC Bank’s Eligibility Calculator facilitates checking eligibility for housing loans online.

• Gross Income (Monthly) in ₹: Input gross monthly income. NRI should input net income.
• Loan Tenure (In Years): Input the desired loan term for which you wish to avail the loan. A longer tenure helps in enhancing the eligibility.
• Interest Rate (% P.A.): Input HDFC Bank’s prevailing housing loan interest rate. Click here to know the prevailing interest rates
• Other EMIs (Monthly): Input the EMIs of the other loans you may have

Apply for a Home Loan and Calculate Your Home Loan Eligibility

Once you get an indication of your eligibility and EMI amount by using the calculator, you can apply for a home loan online from the comfort of your living room easily with Online Home Loans by HDFC Bank.

To apply for a home loan online with HDFC Bank, Click

In case you would like us to get in touch with you, kindly leave your details with us. HDFC Bank also offers a facility of a pre-approved home loan even before you have identified your dream home.

These calculators are provided only as general self-help Planning Tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances.

What Factors determine your home loan eligibility?

• When you apply for a home loan, your eligibility is primarily dependant on your income and repayment capacity.
• There are also some other factors that will determine your home loan eligibility:
  • Your age, financial position, credit history, credit score, other financial liabilities etc.

More on How to Improve Home Loan Eligibility?

• You can enhance your eligibility for a home loan by:
  • Adding an earning family member as co-applicant.
  • Availing a structured repayment plan.
  • Ensuring a steady income flow, regular savings and investments.
  • Furnishing details of your regular additional income sources.
  • Keeping a record of your variable salary components.
  • Taking actions to rectify errors (if any) in your credit score.
  • Repaying ongoing loans and short terms debts.