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Home Loan Eligibility Calculator

For most young working professionals, buying their own home is one of the most important milestone of their journey . Having your own address is a feat to be reasonably proud of. However, for a good number of people, realizing this dream requires financial assistance. This is where home loan comes into assistance. We at PNB Housing leave no stone unturned to help you realize your dream of having your own home by working out a customized quote for you to meet your home loan amount requirement.

One of the easiest ways of calculating your eligibility is via the home loan eligibility calculator as one below.


Gross Monthly Income (in INR) ₹10000

Loan Tenure (in Years) 120 Years

ROI (annual) 10 %

Other Existing EMIs(in INR) ₹0

Monthly EMI ₹

Eligible Loan Amount ₹

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Factors affecting home loan eligibility

Home loan eligibility in India and across the globe is judged on your perceived ability to pay back. Effectively, your home loan eligibility is determined by the lender based on:

  1. Your age – This determines what the tenure of the loan will be, which in turn will determine your EMI. The longer the tenure, the lower will be the EMI and vice-versa for a given loan amount and interest rate.
  2. The nature and size of your income – Your monthly income would determine how much of an EMI commitment you are capable of taking on. This would determine how much of a surplus you make to repay your loan via EMI after your other financial commitments are met.
  3. Your prior loan commitments – Your prior financial commitments have a bearing on your eligibility as the same as deducted as regular monthly outflow from your existing income, post which a portion of EMI set for home loan repayment is calculated.
  4. Your credit report – Your credit report helps the lender judge your repayment health score on other commitments which becomes an important criterion for approval or rejection of your loan.
  5. Regulatory guidelines – NHB too has laid down restrictions on the maximum loan amount as a percentage of the home cost. This limit varies slightly on the basis of the property cost, with lower cost homes being eligible for a higher limit and vice-versa.

How can you increase your home loan eligibility?

  1. Applying jointly: Include either your earning spouse or a co-applicant as a joint applicant of the loan, your loan eligibility could improve substantially. This is because the joint applicant’s income will also be taken into consideration while determining the loan eligibility. But remember, the factors discussed above would be applicable to the joint applicant too.
  2. By closing other loans: If you are paying other EMIs, you may consider closing them immediately by pre-paying, so that you have a larger surplus available to channel towards your home loan EMI. This helps push up your eligibility.

We hope this short bite on eligibility has helped you understand the basics of eligibility. Please make the best use of housing loan eligibility calculator below and be on your way to finding your dream house