What is the fixed obligation to income ratio?

The share of your monthly income a lender will allow to go towards loan instalments in total, existing ones included. Around fifty per cent is common, though lenders vary it by income level and by their own policy.

Why does a small existing loan reduce my eligibility so much?

Because it comes off the instalment you can afford, and every rupee of instalment supports many rupees of loan. Clearing a modest car loan before applying often raises the sanction by far more than the loan's outstanding balance.

Can I borrow the full price of the property?

No. Lenders fund a share of the assessed value, commonly around eighty per cent for mid-sized loans and less for larger ones, so the balance plus all the transaction costs has to come from you.

Does adding a co-applicant help?

Usually, because the incomes combine and so does the instalment capacity. It also makes the co-applicant jointly liable for the whole loan, which is a commitment worth understanding before signing.

Home Loan Eligibility Calculator

The loan your income can carry, and the property it reaches.

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Result

The result appears here as you type.

Ask about Home Loan Eligibility Calculator

Questions about what this tool does, which option to pick, or what it can and cannot handle.

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About the Home Loan Eligibility Calculator

No lender decides a home loan by looking at the property first. They look at income, subtract the instalments you already pay, and allow a share of what remains to go towards a new instalment. That share is the fixed obligation to income ratio, and this tool runs the same arithmetic backwards to arrive at the loan it supports.

Fifty per cent is a common figure and it moves with income — lenders often allow less of a modest salary and more of a large one, on the reasoning that a household with a bigger surplus can carry a higher proportion. Existing instalments come off the top before the ratio is applied, so a car loan does not merely reduce the amount you can borrow; it reduces it by many times its own size. An instalment of twenty thousand can easily cost you twenty-five lakh of eligibility.

The second constraint is the loan-to-value ratio, which caps the loan as a share of the property's assessed value rather than its asking price. The tool converts the eligible loan into the property price it reaches at the ratio you set, and shows the deposit that leaves you to find. Where the two constraints disagree, the smaller one binds — a household may be able to service a larger loan than the property will secure, or the reverse.

Treat the result as the lender's starting arithmetic rather than its answer. Credit history, employment type, the age at which the tenure ends, the property's own valuation and the lender's appetite that quarter all move the final sanction, and almost always downwards.

How to use it

1Enter your monthly income and every instalment you are already committed to.
2Set the share of income the lender allows towards instalments, if you have been told it.
3Put in the rate and tenure you are being offered.
4Read the property figure and the deposit it implies, then check it against what you actually have.

Questions

What is the fixed obligation to income ratio?: The share of your monthly income a lender will allow to go towards loan instalments in total, existing ones included. Around fifty per cent is common, though lenders vary it by income level and by their own policy.
Why does a small existing loan reduce my eligibility so much?: Because it comes off the instalment you can afford, and every rupee of instalment supports many rupees of loan. Clearing a modest car loan before applying often raises the sanction by far more than the loan's outstanding balance.
Can I borrow the full price of the property?: No. Lenders fund a share of the assessed value, commonly around eighty per cent for mid-sized loans and less for larger ones, so the balance plus all the transaction costs has to come from you.
Does adding a co-applicant help?: Usually, because the incomes combine and so does the instalment capacity. It also makes the co-applicant jointly liable for the whole loan, which is a commitment worth understanding before signing.