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What is a Home Loan Eligibility Calculator?

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.

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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 7.75% 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.

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Factors that Affect your Home 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.

More Home Loan products for you

Home Loan for government employees

With Tata Capital, you can apply for a home loan for government employees in a few easy steps and get housing finance at competitive interest rates.

Apply Now

Home Loan for self-employed

With Tata Capital, you can apply for a home loan for self employed in a few easy steps and get housing finance at competitive interest rates.

Apply Now

Home Loan for women

With Tata Capital, you can apply for a home loan for women in a few easy steps and get housing finance at competitive interest rates. 

Apply Now

What our customers say about us

Overall the experience was good and hope to continue the same. Also Tata Capital executive were nice and polite from the beginning.

Prasenjit Sen

Loan Against Property | 13 January, 2023

Thank you TATA Group for making India proud with all your hassle free and excellent services, Thanks Team

PRAMOD LINGSHETTY PATIL

Personal Loan | 31 December, 2022

I want to thank Tata Capital for giving Loan, During the process I was kept updated. Wanted to thank Tata Capital executive for answering my queries and keeping me updated on Status. Thank you

G BHASKAR

Personal Loan | 30 December, 2022

This is surprisingly easiest way to avail personal loan. I am completely happy with the service provided. Thank you team TATA CAPITAL!

Venugopal Raju

Personal Loan | 28 December, 2022

I was impressed with the way your staff handles their customers and if i come accross any family or friend who may be looking for any financial assistance, I shall surely recommend Tata capital

SHEELA AVINASH PATEL

Business Loan | 24 December, 2022

One of the best Mobile App, Tata capital only took 3-4 working day for loan approval.

ARJUN KUMAR

Personal Loan | 23 December, 2022

The services of Tata Capital is very good.. Approval process, loan charges are not hidden, every aspect was explained to me by Tata Capital executive before taking loan, very good transparency. Keep it up..

Prasanna Shriram Agashe

Personal Loan | 10 December, 2022

Excellent customer service with clarity and politeness. Thanks to TATA Capital having wonderful field staff.

S hari Haran

Two Wheeler Loan | 08 December, 2022

I am very happy that I got timely loan in my worst time.

THAKOR BHIMABHAI SHANKARJI

Personal Loan | 07 December, 2022

Popular FAQs

What is a Home Loan?

A home loan, or a housing loan, refers to a sum of money borrowed from a financial institution to buy a new house. With a Tata Capital Home Loan, you can avail of high-value financing for convenient tenures at competitive interest rates. 

You can apply for a housing loan for the following purposes:

  • Purchasing a ready-to-move-in or under-construction housing property
  • Buying a plot of land to construct a house on it
  • Renovating or repairing your home (Home Improvement Loan)
  • Adding new spaces to your existing house (Home Extension Loan)
What are the benefits of a Home Loan?

A home loan can help you purchase or construct your dream house without worrying about the requisite finances. At Tata Capital, we understand your housing finance requirements and provide you with the best home loan. 

Some benefits of a Tata Capital Home Loan include:

  • Attractive rate of interest
  • Loan tenure up to 30 years
  • Simple eligibility criteria
  • Flexible repayment solutions
  • Instant approval
  • Quick processing
  • Tax benefits
  • Door-to-door services
How can I use a Tata Capital Home Loan?

Tata Capital Home Loans are tailored to help you meet all your housing finance requirements. You can use our home loans for the following purposes:

  • Buying a ready-to-move-in property from the builder
  • Buying an under-construction property from the builder
  • Buying a resale housing property
  • Buying a plot to construct a house on it
  • Renovating or repairing your existing house
  • Refinancing an already purchased residential property
  • Transferring your outstanding home loan balance from another lender
Can a sanctioned Home Loan be canceled?

Yes, you can cancel your home loan even after it has been sanctioned. However, the lender may not refund the home loan processing fees that are charged during the home loan sanction process.

If you want to cancel your home loan after receiving your loan sanction letter, you can write to us or contact us on our helpline number. But make sure you do this well before the loan is disbursed.

Can I increase my Home Loan tenure?

Yes, you can extend your home loan tenure as long as it is within the maximum loan tenure offered by your lender. At Tata Capital, we offer home loans with maximum tenures of up to 30 years.

By extending your home loan tenure, you can reduce your EMI burden. To increase your home loan tenure, you can contact us on our customer helpline number or visit your nearest Tata Capital branch.

What factors cause the rejection of a Home Loan?

Some common reasons for the rejection of a home loan could be:

  • Inability to meet the home loan eligibility criteria
  • Non-submission of the required documents 
  • Low credit score
  • Incomplete or incorrect details in the home loan application

    • If your home loan application is rejected by the lender, find out the exact reason behind it. If a low credit score is responsible, take steps to improve your credit score before reapplying. Also, make sure you check your home loan application thoroughly before submitting it.

Find the right Loan for you

Affordable Housing Loan

  1. At Tata Capital, we believe that every single person, regardless of their financial background, deserves a home to call their own.

With this vision, Tata Capital Housing Finance offers affordable home loans at competitive interest rates. 

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Affordable Housing Loan

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Home Extension Loan

  1. As the years go by and your family continues to grow, does your house feel smaller?

Tata Capital’s Home Extension Loan is a perfect solution to help you give your family that additional space they deserve.

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Home Extension Loan

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Home Loan for Self-Construction

Instead of buying a ready-to-move-in house, you can choose to purchase a piece of land and construct your house on it brick by brick. 

A home loan for self-construction or simply a home construction loan is a special type of home loan given to help borrowers construct their own house on a piece of land or plot.

Know More

Home Loan for Self-Construction

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Home Loan Top-up

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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Home Loan Top-up

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Home Loan Overdraft

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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Home Loan Overdraft

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Quick Cash

Quick Cash loan is a unique Pre-Approved personal finance top-up linked to your existing Tata Capital Housing Finance Limited (TCHFL) loans. This loan is only for existing TCHFL Home Loan and Home Equity customers.

Apart from its unique features, it also offers other advantages such as faster processing, and a paperless journey, notwithstanding that all this could be availed in just a few clicks at your convenience any day 24*7.

Know More

Quick Cash

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Balance Transfer

  1. 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.

With Tata Capital Home Loan Balance Transfer, you can transfer your outstanding home loan balance to affordable interest rates. Our home loan interest rates start from just 7.75% per annum*.

Know More

Balance Transfer

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Home Loan Blogs

Home Loan
Home Loan Pre-Approval: What You Need To Know
21 February, 2023
Home Loan
What Is Mortgage Refinancing and How Does It Work?
21 February, 2023
Home Loan
How to Make The Most Of Home Loan Tax Benefits In 2023
21 February, 2023
Home Loan
Tips for Improving Credit Score Before Applying for a Home Loan
21 February, 2023
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