Home Loan Eligibility Calculator

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Home Loan Eligiblity Calculator

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Overview Required Documents Rates & Charges

Calculators

Quick Cash

Net income (monthly)

₹

₹75,000 ₹35,00,000

Monthly obligations

₹

₹75,000 ₹35,00,000

Rate of interest

10% p.a 19% p.a

Tenure

1 Years 6 Years

Congratulations!

You are eligible for a Home Loan upto

Total loan amount

EMI

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Disclaimer: The aforementioned values, calculations and results are for illustrative and informational purposes only and may vary basis various parameters laid down by Tata Capital.

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Calculate Home Loan Eligibility

Home Loan Eligibility Calculator is a tool for determining the amount of home loan for which you are eligible. Housing loan eligibility is dependent on factors such as monthly income, monthly obligations, credit history, retirement age, etc.

What is Home Loan Eligibility?

The home loan eligibility criteria may vary from one lending institution to another, and hence, you must check your housing loan eligibility carefully before applying for it.

The easiest way to check home loan eligibility is using a home loan eligibility calculator. With Tata Capital Home Loan Eligibility Calculator, you can check if you’re eligible to borrow a home loan with us and if yes, then the maximum home loan amount you can borrow. All that you have to do is enter a few basic details in the home loan eligibility calculator, and we will display your maximum home loan eligibility within a few seconds.

How is Home Loan Eligibility Calculated?

An applicant’s home loan eligibility is calculated by considering various factors such as age, income, financial position, credit score, credit history, liabilities, financial obligations, years left for retirement, etc. However, calculating this manually can be cumbersome.

Consider using Tata Capital’s user-friendly and free home loan eligibility calculator for this. Simply enter your income, monthly obligations, rate of interest, and tenure. The calculator will then display whether you’re eligible for the loan, the total loan amount, and the EMI.

Home Loan Eligibility Criteria

Here are the eligibility criteria for home loans:

Age: Younger applicants are usually granted high value loans with longer tenures as against applicants who might be close to retirement.
Income: The applicant’s income helps determine their ability to repay the loan. Therefore, the higher the applicant’s income, the higher the loan amount they’re able to apply for.
Type of Employment: The applicant’s employment status directly impacts the success of their application as it affects their ability to repay the loan. A reliable applicant is one with a steady stream of income or a stable business.
Credit Score or Payment History: The applicant’s credit score and payment history help lenders evaluate their ability to repay the loan comfortably.
Qualification and Experience: Higher academic qualifications and work experience can increase an applicant’s chances of getting a home loan.

How to Increase Home Loan Eligibility?

Improve credit score

Ensure all credit card bills, loan EMIs, and other financial obligations are paid on time.

Longer tenure

Choose a longer repayment period to reduce EMI.

Apply with a Co-Applicant

You can use a co-applicant’s income to boost eligibility.

Provide additional collateral

Offer additional assets to secure a higher loan amount.

How to Use a Home Loan Eligibility Calculator?

At Tata Capital, we provide home loans with easy eligibility criteria and minimal documentation. Our home loan eligibility calculator can help you evaluate your home loan eligibility with us in an effortless manner. To calculate home loan eligibility using our home eligibility calculator, you’re required to input the following details:

Net Monthly Income

Your net monthly income is your take-home salary after deducting the taxes and other deductions. If you’re a self-employed individual, you can calculate your net income by deducting the taxes and expenses from your gross income.

Monthly Obligations

The next value that you need to enter to calculate home loan eligibility is the sum of your monthly obligations. You can calculate your monthly obligations by adding the total amount that you pay every month as EMIs for other loans. Please note that statutory deductions such as PF, taxes, etc., and investments do not come under your monthly obligations.

Rate of Interest

Next, you will have to enter the rate of interest that would be charged on your housing loan. We can determine the best home loan interest rate for you based on your home loan eligibility. Our home loan interest rates start from just 8.75% per annum*.

Home Loan Tenure

Last, you will need to enter your home loan tenure to calculate house loan eligibility. Your home loan tenure is the duration within which you’re obligated to repay your entire home loan amount along with the applicable interest. With Tata Capital, you can choose a convenient home loan tenure of up to 30 years.

You can either use the sliders or type to enter these values directly in our home loan eligibility calculator. Once you enter these values, our housing loan eligibility calculator will instantly display the maximum home loan amount that you’re eligible to borrow from us and the EMI that you will have to pay per month at the selected rate of interest.

Home Loan Eligibility Based on Salary

Factors Affecting Housing Loan Eligibility

The home loan eligibility criteria may differ from one lending institution to another. Different lenders consider different factors to calculate the home loan eligibility of their applicants. Some common factors that can impact your home loan eligibility include:

Age

Lenders consider the age of the applicant as a crucial factor while determining their housing loan eligibility. Generally, younger applicants are granted high-value loans for longer tenures as compared to those who are nearing their retirement age.

Income

The applicant’s income is another crucial factor that determines their home loan eligibility. It reflects their ability to repay loan EMIs in time. Therefore, the higher an individual’s income, the greater will be the home loan amount he or she can procure.

Type of Employment

The employment status of the applicant and the type of employment have a lot of say on their home loan eligibility. Moreover, the home loan eligibility for salaried and self-employed individuals may also be different.

Credit Score or Payment History

The lenders evaluate the home loan eligibility of applicants based on their credit scores and payment history. The credit scores of applicants reflect how they have handled their past liabilities and loans. A high credit score of 750 or above helps in getting a home loan easily.

Qualification and Experience

The academic qualification and work experience of the applicant also matter when it comes to their home loan eligibility. Higher academic qualifications and impressive work experience increase their chances of getting a home loan.

At Tata Capital, we provide housing loans for both salaried and self-employed individuals with simple housing loan eligibility criteria. You can check your housing loan eligibility instantly by using our online Home Loan eligibility calculator.

Popular FAQs

Younger borrowers benefit from lower EMIs by opting for longer tenures, while older borrowers may choose shorter tenures for quicker repayment. Age-specific eligibility criteria make sure that loan tenures match your financial stage and retirement plans.

Factors like income, age, credit score, interest rates, co-applicant, type of property and location can affect your eligibility.

You can use our eligibility calculator to determine your loan amount.

Minimum salary of Rs. 30,000

Our home loan eligibility calculator is designed to provide accurate results. Based on the values entered by you in the calculator, it will show the total home loan amount you can borrow from us. This estimation is based on your monthly income, monthly obligations, and other factors. You can also qualify for a higher loan amount, but the final decision lies with Tata Capital.

A home loan eligibility calculator can help you determine your eligibility for a home loan instantly. There is no limit on the number of times you can use it. However, it makes no sense to use it at very frequent intervals. Ideally, if you have checked your home loan eligibility today, you should wait for at least six months before doing it again. You can also wait till your salary or income increases.

Before applying for a home loan, it’s prudent to check your eligibility. Applying for a loan that gets rejected damages your credit score and bring down your chances of getting a loan in the future. You can check your home loan eligibility online using a home loan eligibility calculator. These calculators are easy to use and are available for free on the websites of various lenders. All you need to do is enter the required values in the calculator, and it will show your home loan eligibility instantly.

With Tata Capital’s home loan eligibility calculator, you can know your home loan eligibility and the maximum loan amount you can borrow within a few seconds. All you need to do is enter your monthly income, monthly obligations, home loan interest rate, and the tenure for which you want to take a home loan, and your home loan eligibility will be displayed automatically.

A home loan eligibility calculator is designed to determine your eligibility for borrowing a home loan and the maximum loan amount you can borrow from a lender. However, it cannot tell you about the interest rate that will be levied on your home loan. It is decided by the lender based on your loan amount, age, monthly income, employment status, credit score, and several other factors.

You can get in touch with the lender’s customer support team to know your exact home loan interest rate. With Tata Capital, you can get a home loan at a highly competitive interest rate, starting from just 8.75% per annum.

Your monthly income or salary plays a crucial role in determining your home loan eligibility. Lenders look at your monthly income to evaluate how much EMI you can pay and determine your home loan eligibility accordingly.

For example, if you are seeking a home loan of Rs. 40 lakh at 9% per annum for a tenure of 20 years, your EMIs would be around Rs. 36,000. Thus, you need to have a monthly salary of at least Rs. 50,000 to secure this loan.

It means that if your in-hand salary is on the higher side, you can get a better home loan deal, and if it is on the lower side, you may face difficulties in procuring a home loan. Usually, lenders ask for a minimum salary of Rs. 30,000 for providing home loans in India.

A home loan eligibility calculator and a home loan EMI calculator are two distinct tools meant for two different purposes. You can use it to determine your eligibility for taking a home loan from a lender and the maximum home loan amount you can borrow. On the other hand, a home loan EMI calculator can be used to know the EMIs you need to pay for the repayment of your home loan.

Your age is an important factor that determines your home loan eligibility. If you are a salaried individual, you need to be aged between 18 and 60 years to get a home loan. Or else, if you are self-employed, you need to be aged between 18 and 65 years to get a home loan. These criteria can, however, vary from one lender to another. Generally, younger individuals have better chances of securing a home loan deal as compared to those who are nearing their retirement.

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What Our Customers Say About Us

Service provided by Manoj Patel in Surat vesu Branch was helpful and because of his support we were able to close loan.

Prakash Patil

Home Loan | 23 Aug, 2024

Excellent A1 Services. The Lady at the Customer Desk is very Cooperative and helpful so that my work completed without the time frame. The name of the Lady is Amruta Pathak. God bless her and her family. Thanks and Regards for the entire team of Tata Capital.

Nandlal Lal Arora

Home Loan | 13 Aug, 2024

Very good & prompt service, and we have spoken to Mr. Manish also, and he always helps us to provide our request. Thank you, Ms Apurva Shende & Manish Padwal

Farhang Ahmed Azar

Home Loan | 24 Jul, 2024

I'm happy with the service and the help I got earlier for foreclosure letter. Thank you so much & thanks to Alisha mam for her guidance.

Akshay Anil Pawar

Home Loan | 17 Jul, 2024

Special thanks to Mr. Avinash for his help rendered with full commitment to his job, answering the queries to me clearly, and follow up so that the work is done in given time to get customer satisfaction.

Hannah Grace

Home Loan | 02 Jul, 2024

Mr Avinash who handled my case is well experienced and has courtesy for customers' concerns. However, some of the Tata Capital products are very expensive when compared to other banks' ones!

Mohammed Shakeel Urrahman

Home Loan | 28 Jun, 2024

Start to end of my loan process was simple and guidance of your team members were to the point. My last communication was with Mr. MANOJ PATEL from surat branch he was very polite and helpful.

Anamika Vijaykumar Tiwari

Home Loan | 20 Jun, 2024

We extend our heartfelt gratitude to Mr. Pravin Sagare, Senior Officer of Customer Service, for his exceptional service. His remarkable demeanor and professionalism during telephonic interactions with customers have been truly outstanding. Over the past two years, we have utilized various services, yet none have matched the quality provided by Mr. Sagare. We are deeply impressed by the exemplary service, due to this reaons we has influenced our decision to obtain a second home loan from TATA Capital Housing Finance Limited.

Avinash Vasantbhai Bhesaniya

Home Loan | 07 Jun, 2024

I had applied for a home loan at Tata Capital & got the it approved quickly. The process was smooth and sanctioned with sufficient amount with tenure period of 20 yrs.

Sumeet Verma

Home Loan | 14 Mar, 2022

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A home loan top-up is a facility offered by lenders under which a borrower can take an additional loan over and above their existing home loan.

The home loan top-up facility is available only for existing home loan borrowers without the need for any additional security or guarantee.

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At times, you may need additional funds to tackle your personal or business expenses.

With Tata Capital’s home loan overdraft facility, you can avail of a home overdraft loan limit of up to Rs. 2 crores. You can withdraw funds from this overdraft housing loan limit as per your needs and then pay it back at your convenience.

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Balance Transfer

A home loan balance transfer, or simply a home loan transfer, takes place when you transfer your outstanding home loan amount to a new lender from your existing lender.

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Home Loan Blogs

Home Loan

Net income (monthly)

Monthly obligations

Rate of interest

Tenure

Tenure

Congratulations!

Avail TATA Capital loans directly from WhatsApp

Calculate Home Loan Eligibility

What is Home Loan Eligibility?

How is Home Loan Eligibility Calculated?

Home Loan Eligibility Criteria

How to Increase Home Loan Eligibility?

Improve credit score

Longer tenure

Apply with a Co-Applicant

Provide additional collateral

JLG/Microfinance

How to Use a Home Loan Eligibility Calculator?

Net Monthly Income

Monthly Obligations

Rate of Interest

Home Loan Tenure

JLG/Microfinance

Home Loan Eligibility Based on Salary

Factors Affecting Housing Loan Eligibility

Age

Income

Type of Employment

Credit Score or Payment History

Qualification and Experience

Popular FAQs

How does age impact Home Loan Eligibility and loan tenure?

What are the factors that determine Home Loan Eligibility?

How much loan can I get based on my salary?

What is the minimum salary required to get home loan?

Can a home loan eligibility calculator estimate the loan amount correctly?

What is the ideal frequency for using a home loan eligibility calculator?

How to check your home loan eligibility online?

Can a calculator for loan eligibility give information on interest rates?

How is home loan eligibility calculated based on income or salary?

What differentiates a home loan eligibility calculator from a home loan EMI calculator?

How is housing loan eligibility calculated based on age?

More Home Loan Products for You

Home Loan for government employees

Home Loan for self-employed

Home Loan for women

What Our Customers Say About Us

Prakash Patil

Nandlal Lal Arora

Farhang Ahmed Azar

Akshay Anil Pawar

Hannah Grace

Mohammed Shakeel Urrahman

Anamika Vijaykumar Tiwari

Avinash Vasantbhai Bhesaniya

Sumeet Verma

Find the Right Loan for You

Affordable Housing Loan

Home Extension Loan

Home Loan for Self-Construction

Home Loan Top-up

Home Loan Overdraft

Quick Cash

Balance Transfer

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