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Check Your Home Loan Eligibility

Gross Income (Monthly)
Rate of interest
Other EMIs (Monthly)
Home Loan Eligibility Calculator
Home Loan Eligibility
Monthly EMI

Wondering how to check home loan eligibility? To calculate home loan eligibility online, simply enter the following into the calculator:

  • Gross Income (Monthly)

  • Tenure

  • Rate of interest

  • Other EMIs (Monthly)


This tool will check your home loan eligibility and display how much financing you can avail as well as your EMI. You can use the home loan eligibility calculator to see the potential loan amount you qualify for anytime, anywhere. 

What is Home Loan Eligibility?

Home loan eligibility is a measure of your potential to avail a home loan. If your income is high and current debts are low, your loan eligibility increases. Similarly, if you are young and have many working years ahead, you may be eligible for a large home loan amount. 


Factors like your credit history, property details, and existing relationship with your lender influence your home loan eligibility. You can check your eligibility by reading the lender’s checklist or using a housing loan eligibility calculator. 


This digital tool gives you an estimate of how much you can borrow based on your current finances, employment, city of residence and more. 

How is Home Loan Eligibility Calculated?

The home loan eligibility checker considers four parameters: 

  • Monthly earnings 

  • Existing EMIs per month 

  • Tenure of the home loan

  • Home loan interest rate


Remember, by choosing a longer repayment tenure, you can increase your home loan eligibility. This reduces your EMIs each month, which doesn’t strain your finances. 


In the same way, the lower the interest rate, the higher your potential home loan amount will be. Lastly, when your debt-to-income ratio is low, your housing loan eligibility increases.

Points to Note Before Using the House Loan Eligibility Calculator

  • The calculator is indicative of ‘Do It Yourself’ (DIY) planning tools. The accuracy of its the results depends on multiple factors, so use it as a guide to plan your home loan.

  • The final home loan rate of interest and loan amount, apart from other loan specifics, could be different from results of the eligibility calculator. The results shown by the housing loan eligibility calculator are approximations.

  • The calculated amount is not meant to substitute any kind of information that you may otherwise seek.

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Home Loan Eligibility Criteria

Lenders offer you a home loan based on your eligibility. This includes factors like your earnings, obligations, age, work profile, employment stability, credit score, presence of a co-applicant, if any, and more.


Given below is the comprehensive list of the housing loan eligibility criteria of most lenders:

Eligibility Criteria for Home Loan

Employment Status

Home Loan Criteria for Salaried

Home Loan Criteria for Self-Employed

Age Limit of the Applicant

23 to 62 years

25 to 70 years

Annual Income

₹10,000 per month and above

₹2 Lakhs per annum and above

Work Experience

Minimum 3 years

Minimum 5 years (consecutively)

Residence Type

Permanent resident or non-resident Indian (NRI)

Required Credit Score for Home Loan

Above 750

Property Type

  • Completed project

  • Under-construction project

  • Buy land/plot and build on own land

  • Buy land and build home

When you meet these parameters, you will be eligible for instant home loan approval once the credit assessment is complete. However, note that the terms may vary slightly from lender to lender. So, check your chosen financial institution’s terms before you apply. 

  • House Loan Eligibility Based on Salary: Your monthly salary helps the lender determine your home loan repayment capacity. Your income also helps the lender understand the maximum loan amount they can extend without risking default.


    Remember that lenders focus on your take home or in-hand  salary without all the pertinent deductions. These include contributions towards EPF and insurance, if applicable. 


    The amount that you get after all such contributions will impact the monthly payments you can afford. Thus it affects what lenders offer you as the home loan amount. 


    To be eligible for a home loan as a salaried borrower, you must have at least three years of work experience in your respective field. 

  • Check Eligibility Based on Salary:

  • House Loan Eligibility Based on Age: Your age plays an important role in determining your eligibility for a housing loan. The lower your age, the more time you have to pay off the home loan. It can also make you eligible for a higher loan amount.

Home Loan Eligibility Criteria of Various Banks/NBFCs

The table below includes the range of eligibility terms for a home loan for self-employed and salaried applicants:

Banks/ NBFCs

Loan Amount Eligibility and Maximum Tenure

Age of Eligible Borrower

Maximum Loan on Property Value

Bajaj Housing Finance Limited

₹2.5 Crores for 30 years

23 to 70 years

85% of the value of the property

Home First Finance Company

₹40 Lakhs for 20 years

21 to 68 years

90% of the value of the property


₹5 Crores for 30 years

21 to 65 years

85% of the value of the property

India Shelter

₹50 Lakhs for 20 Years



Kotak Mahindra Bank

₹50 Lakhs for 20 Years

18 to 60 years 

75% - 80% of the property’s value

LIC Housing Finance

₹15 Crores for 30 years

21 to 70 years

80% of the value of the property

PNB Housing Finance Limited

₹15 Crores for 30 years

21 to 65 years

85% of the value of the property

Shriram Housing Finance

₹10 Crores for 25 years

21 to 70 years

90% of the value of the property

Shubham Housing Finance

₹50 Lakhs for 20 years

21 to 65 years

80% of the value of the property

Union Bank of India

₹15 Crores for 30 years

18 to 75 years

90% of the value of the property

Disclaimer: Home Loan eligibility depends on the rules and regulations of the financial institution. The lender gives approvals based on the borrower's income, credit profile, and existing relationship with the bank/NBFC.

How to Improve your Home Loan Eligibility?

There are several ways by which you can improve your chances of securing a home loan. Here are some of the methods that you can employ to improve your home loan eligibility:

  • Add a family member as a co-applicant
  • Structure a solid repayment plan 

  • Ensure that you have regular income and steady finances

  • Provide details of any additional sources of income

  • Maintain a record of the variable components of your salary, such as:

    1. Incentives

    2. Bonuses

    3. One-off monetary compensations

  • Dispute and get the errors corrected in your CIBIL report (Typically, it takes a credit bureau anywhere between 30–45 days to resolve discrepancies)

  • Build a strong credit history by making timely payments towards financial obligations and not having outstanding dues

By boosting your home loan eligibility, you can apply for a home loan to purchase your dream home with ease. Ensure you check these terms and start working towards improving the various factors under your control before you apply for a home loan. 

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Home Loan Eligibility FAQs

What is the eligibility criteria for a home loan?

Lenders consider three main factors to check your housing loan eligibility after receiving your home loan application. These include being an Indian citizen and having at least three years of work experience with a steady income. You must also be in the age group of 23–62 years.

How is home loan eligibility calculated at Bajaj Markets?

The home loan eligibility calculator tool works on a mathematical formula that considers certain variables to evaluate your eligible loan amount. These factors include the expected loan amount, your age, monthly income, existing obligations and secondary income, among other things.

What are the minimum house loan eligibility requirements for an NRI?

Lending institutions consider Non-Resident Indians for a home loan if they are drawing a salary equivalent of $3,000 per month. This applies to the USA and other countries. NRI applicants also need to have been actively working in their field for a total of 2 years. 


Of these, six months must have been spent overseas. The applicant must also be at least 24 years of age and 60 at most. If you are wondering how to calculate home loan eligibility as an NRI in more detail, get in touch with customer support staff.

Are my children eligible to be co-applicants for my home loan?

You can add your children as co-applicants and take a joint home loan. They must be Indian citizens aged 23 and over and have work experience with a reputed firm for at least three years. 


However, you must only add their names to the application if you plan on making them co-owners of the property.


What is the role of a co-applicant when it comes to home loan eligibility?

A co-applicant’s income and credit score, clubbed with that of your own, can improve your home loan eligibility. At times, a co-applicant can also function as a guarantor.


Can I get an 80% home loan?

Yes, you can get financing of up to 80% of your home’s value if its cost is ₹30-75 Lakhs. If it is lower than ₹30 Lakhs, the maximum LTV is 90% and over ₹75 Lakhs, the maximum LTV is 75%.

Can I get a 100% home loan?

It is not possible to get 100% financing to buy a home from a bank, NBFC or housing finance company. The usual LTV is based on the home’s value and your eligibility and is between 90% to 75% of the home’s cost.


Can we take a home loan for 10 years?

Yes, you can take a home loan for a tenure of 10 years, but this depends on your age, earnings, current debt and more. Usually, you can get a home loan for up to 30 years.

Can we take a home loan for 15 years?

Yes, you can get a home loan for 15 years. While the maximum tenure goes up to 30 years, your tenure depends on eligibility parameters like age, work experience, credit score and more.

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