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type="hidden" name="slideDataIdentifier" value="" id="slideDataIdentifier"/><input type="hidden" name="isInternalIP" value="false" id="isInternalIP"/><input type="hidden" name="stage" value="prod" id="stageValue"/><input type="hidden" name="geolocatorApiKey" value="" id="geolocatorApiKey"/><input type="hidden" name="googleClientId" value="" id="googleClientId"/><input type="hidden" name="pageName" value="landingPageNewLayout" id="pageName"/><input type="hidden" name="mobileSite" value="false" id="mobileSite"/><input type="hidden" name="tabletSite" value="false" id="tabletSite"/><input type="hidden" name="website" value="MARKETPLACE" id="global_website"/><script type="text/javascript" id="pageJSONVariables"> var pageJson = {"metaDescription":"Home Loan Eligibility Calculator - Check your home loan eligibility. Calculate the minimum and maximum amount for the self-employed and salaried.","hungryForMore":[{"type":"cta","data":{"link":"\/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_89121&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_89121","linkText":"Check Your Credit Score for Free"}},{"type":"paragraph","data":{"text":"Understanding the criteria that are required to be eligible for a <a href=\"\/home-loan.html\" target=\"_blank\">home loan<\/a> helps to ensure that the process of application becomes smoother and easier for you."}},{"type":"paragraph","data":{"text":"<strong>Eligibility Criteria for Home Loan<\/strong><br>"}},{"type":"table","data":{"rows":[{"cols":[{"content":[{"data":{"text":"Age"},"type":"paragraph"}]},{"content":[{"data":{"text":"18 - 70 years"},"type":"paragraph"}]}]},{"cols":[{"content":[{"data":{"text":"Income"},"type":"paragraph"}]},{"content":[{"data":{"text":"Rs.25,000"},"type":"paragraph"}]}]},{"cols":[{"content":[{"data":{"text":"Credit Score"},"type":"paragraph"}]},{"content":[{"data":{"text":"Above 750"},"type":"paragraph"}]}]},{"cols":[{"content":[{"data":{"text":"Employment Status"},"type":"paragraph"}]},{"content":[{"data":{"text":"Salaried or Non-Salaried"},"type":"paragraph"}]}]},{"cols":[{"content":[{"data":{"text":"Work Experience"},"type":"paragraph"}]},{"content":[{"data":{"text":"2 Years"},"type":"paragraph"}]}]},{"cols":[{"content":[{"data":{"text":"Loan Amount"},"type":"paragraph"}]},{"content":[{"data":{"text":"Decided by the lender"},"type":"paragraph"}]}]},{"cols":[{"content":[{"data":{"text":"Residence Type"},"type":"paragraph"}]},{"content":[{"data":{"text":"Permanent resident or Non-resident Indian (NRI)"},"type":"paragraph"}]}]},{"cols":[{"content":[{"data":{"text":"LTV Ratio"},"type":"paragraph"}]},{"content":[{"data":{"text":"Up to 90%"},"type":"paragraph"}]}]},{"cols":[{"content":[{"data":{"text":"Property Type"},"type":"paragraph"}]},{"content":[{"data":{"text":"Completed \/Under Construction Project, Land\/Plot, build on own Land, Buy Land and Build Home"},"type":"paragraph"}]}]}]}},{"type":"paragraph","data":{"text":"Note: Loan eligibility criteria differ depending on the bank\/lender. Approvals are based on borrowers' income, credit profile, and existing relationship with the bank."}},{"type":"header","data":{"text":"Home Loan Eligibility Calculator","level":2}},{"type":"calculator","data":{"type":"HL_ELIGIBILITY"}},{"type":"header","data":{"text":"Home Loan Eligibility for Banks in 2024","level":2}},{"type":"table","data":{"rows":[{"cols":[]},{"cols":[{"content":[{"data":{"text":"<a href=\"\/home-loan\/hdfc-home-loan-eligibility.html\" target=\"_blank\">HDFC Home Loan Eligibility<\/a>"},"type":"paragraph"}]},{"content":[{"data":{"items":[{"content":"Age: 18 to 70 years"},{"content":"Max loan Tenure: Up to 30 years"},{"content":"Loan Amount: Up to Rs.10 crore"}],"style":"unordered"},"type":"list"}]}]},{"cols":[{"content":[{"data":{"text":"<a href=\"\/home-loan\/check-sbi-home-loan-eligibility.html\" target=\"_blank\">SBI Home Loan Eligibility<\/a>"},"type":"paragraph"}]},{"content":[{"data":{"items":[{"content":"Age: 18 to 70 years"},{"content":"Max loan Tenure: Up to 30 years"},{"content":"Loan Amount: Decided by the lender"}],"style":"unordered"},"type":"list"}]}]},{"cols":[{"content":[{"data":{"text":"<a href=\"\/axis-bank-home-loan-eligibility.html\" target=\"_blank\">Axis Bank Home Loan Eligibility<\/a>"},"type":"paragraph"}]},{"content":[{"data":{"items":[{"content":"Age: 21 to 60 years"},{"content":"Max loan Tenure: Up to 30 years"},{"content":"Loan Amount: Up to Rs.3 crore"}],"style":"unordered"},"type":"list"}]}]},{"cols":[{"content":[{"data":{"text":"<a href=\"\/lic-home-loan.html#Eligibilty\" target=\"_blank\">LIC HFL Home Loan Eligibility<\/a>"},"type":"paragraph"}]},{"content":[{"data":{"items":[{"content":"Age: 21 to 60 years"},{"content":"Max loan Tenure: Up to 30 years"},{"content":"Loan Amount: Rs.1 lakh onwards"}],"style":"unordered"},"type":"list"}]}]},{"cols":[{"content":[{"data":{"text":"<a href=\"\/home-loan\/bank-of-baroda-home-loan-eligibility.html\" target=\"_blank\">BoB Home Loan Eligibility<\/a>"},"type":"paragraph"}]},{"content":[{"data":{"items":[{"content":"Age: 21 to 70 years"},{"content":"Max loan Tenure: Up to 30 years"},{"content":"Loan Amount: Up to Rs.10 crore"}],"style":"unordered"},"type":"list"}]}]},{"cols":[{"content":[{"data":{"text":"<a href=\"\/home-loan\/punjab-national-bank-home-loan-eligibility.html\" target=\"_blank\">PNB Home Loan Eligibility<\/a>"},"type":"paragraph"}]},{"content":[{"data":{"items":[{"content":"Age: 18 to 70 years"},{"content":"Max loan Tenure: Up to 30 years"},{"content":"Loan Amount: Up to 90% of the market value"}],"style":"unordered"},"type":"list"}]}]},{"cols":[{"content":[{"data":{"text":"<a href=\"\/canara-bank-home-loan.html\" target=\"_blank\">Canara Bank Home Loan Eligibility<\/a>"},"type":"paragraph"}]},{"content":[{"data":{"items":[{"content":"Age: 21 to 55 years"},{"content":"Max loan Tenure: Up to 30 years"},{"content":"Loan Amount: Up to Rs.10 crore"}],"style":"unordered"},"type":"list"}]}]},{"cols":[{"content":[{"data":{"text":"<a href=\"\/idbi-home-loan-eligibility.html\" target=\"_blank\">IDBI Bank Home Loan Eligibility<\/a>"},"type":"paragraph"}]},{"content":[{"data":{"items":[{"content":"Age: 22 to 70 years"},{"content":"Max loan Tenure: Up to 30 years"},{"content":"Loan Amount: Up to Rs.10 crore"}],"style":"unordered"},"type":"list"}]}]},{"cols":[{"content":[{"data":{"text":"<a href=\"\/home-loan\/indiabulls-home-loan-eligibility.html\" target=\"_blank\">Indiabulls Home Loan Eligibility<\/a>"},"type":"paragraph"}]},{"content":[{"data":{"items":[{"content":"Age: 21 to 65 years"},{"content":"Max loan Tenure: Up to 30 years"},{"content":"Loan Amount: Up to Rs.15 crore"}],"style":"unordered"},"type":"list"}]}]}]}},{"type":"paragraph","data":{"text":"Once you have figured out your eligibility for a home loan, you can check <a href=\"\/home-loan-interest-rate.html\" target=\"_blank\">home loan interest rate for all banks<\/a> and apply for the one that suits you best."}},{"type":"header","data":{"text":"How to Check Home Loan Eligibility with BankBazaar?","level":2}},{"type":"paragraph","data":{"text":"Use the home loan eligibility calculator to check which banks you are eligible for a home loan. You can easily compare and choose the best home loans with the help of the home loan eligibility calculator available on BankBazaar. The process is simple and only basic details will need to be entered. The procedure to check your eligibility via BankBazaar.com is mentioned below:"}},{"type":"list","data":{"style":"ordered","items":[{"content":"Visit <a href=\"\/home-loan-eligibility.html?variant=slide\" target=\"_blank\">BankBazaar Home Loan Eligiblity<\/a>","items":[]},{"content":"Choose your type of employment from the options that are provided.","items":[]},{"content":"Enter your gross fixed monthly income and click on 'Continue' on the next slide.","items":[]},{"content":"Enter the PIN code of your current residential address.","items":[]},{"content":"On the next slide, choose the purpose of your home loan.","items":[]},{"content":"Enter your mobile phone number.","items":[]},{"content":"Check the box to authorise contact permissions.","items":[]},{"content":"Enter your full name, date of birth, and email ID in the designated fields and click on 'Continue'.","items":[]},{"content":"Enter the OTP sent to your mobile phone number and click on the 'Submit' button.","items":[]}]}},{"type":"paragraph","data":{"text":"After this step, you will be able to check all the home loan offers that you are eligible for and apply for a home loan. You can also consider using the BankBazaar <a href=\"\/home-loan\/emi-calculator.html\" target=\"_blank\">Home Loan EMI Calculator<\/a> to calculate your effective EMI amounts for the home loan product that you want to choose."}},{"type":"cta","data":{"link":"\/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_89121&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_89121","linkText":"Know Your Credit Score for Free"}},{"type":"header","data":{"text":"How Home Loan Eligibility is Calculated?","level":2}},{"type":"paragraph","data":{"text":"Chandra Patra is an employee of a leading company in India. His salary break up is mentioned below:"}},{"type":"table","data":{"rows":[{"cols":[{"content":[{"data":{"text":"Income"},"type":"paragraph"}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"data":{"text":"Amount"},"type":"paragraph"}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"data":{"text":"Deductions"},"type":"paragraph"}],"colspan":1,"rowspan":1,"highlight":true},{"content":[{"data":{"text":"Amount"},"type":"paragraph"}],"colspan":1,"rowspan":1,"highlight":true}]},{"cols":[{"content":[{"data":{"text":"Basic"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"32,000"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"type":"paragraph","data":{"text":"<a href=\"\/income-tax.html\" target=\"_blank\">Income Tax<\/a>"}}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"3,300"},"type":"paragraph"}],"colspan":1,"rowspan":1}]},{"cols":[{"content":[{"data":{"text":"HRA"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"900"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"Provident Fund"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"2,200"},"type":"paragraph"}],"colspan":1,"rowspan":1}]},{"cols":[{"content":[{"data":{"text":"Conveyance"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"10,000"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"type":"paragraph","data":{"text":"-"}}],"colspan":1,"rowspan":1},{"content":[{"type":"paragraph","data":{"text":"-"}}],"colspan":1,"rowspan":1}]},{"cols":[{"content":[{"data":{"text":"LTA"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"9,000"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"type":"paragraph","data":{"text":"-"}}],"colspan":1,"rowspan":1},{"content":[{"type":"paragraph","data":{"text":"-"}}],"colspan":1,"rowspan":1}]},{"cols":[{"content":[{"data":{"text":"Special Allowance"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"55,000"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"type":"paragraph","data":{"text":"-"}}],"colspan":1,"rowspan":1},{"content":[{"type":"paragraph","data":{"text":"-"}}],"colspan":1,"rowspan":1}]},{"cols":[{"content":[{"data":{"text":"Medical expenses"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"2,000"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"type":"paragraph","data":{"text":"-"}}],"colspan":1,"rowspan":1},{"content":[{"type":"paragraph","data":{"text":"-"}}],"colspan":1,"rowspan":1}]},{"cols":[{"content":[{"data":{"text":"Total"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"1,08,900"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"Net Income"},"type":"paragraph"}],"colspan":1,"rowspan":1},{"content":[{"data":{"text":"1,03,400"},"type":"paragraph"}],"colspan":1,"rowspan":1}]}]}},{"type":"paragraph","data":{"text":"Let us consider that Chandra has no loans or liabilities at present and his net available income is Rs.1,03,400. However, you must always remember that the <a href=\"\/tax\/leave-travel-allowance.html\" target=\"_blank\">Leave Travel Allowance<\/a> is not taken into consideration by the bank when calculating the salary. The medical allowance is also excluded from the calculation. This is because these expenses are not derived by an individual with his\/her salary. In this case, Chandra will only get these amounts as reimbursements, in case he spends on medical needs or travel requirements."}},{"type":"paragraph","data":{"text":"Thus, the bank or the lender will deduct that <a href=\"\/tax\/leave-travel-allowance.html\" target=\"_blank\">LTA<\/a> and medical expenses from the net income. Chandra's net income now stands at Rs.1,03,400 - Rs.(9,000 + 2,000), which is equal to Rs.92,400. Thus, the loan eligibility for Chandra Patra stands at Rs.92,400 x 60 = Rs.55,44,000. In the case of a home loan, EMI is restricted to a maximum of 40% to 50% of the net income (monthly) by most banks. This suggests that you are eligible for a home loan where the <a href=\"\/home-loan\/emi-calculator.html\" target=\"_blank\">equated monthly instalment<\/a> is not more than 50% of your monthly income."}},{"type":"header","data":{"text":"What are the Factors that Affect Home Loan Eligibility","level":2}},{"type":"list","data":{"style":"unordered","items":[{"content":"Age Limit: When granting a home loan, lenders typically take the borrower's age into account. While older applicants, particularly those over 40, may find it more difficult to be accepted for longer loan periods, younger people (typically those in their 20s and 30s) may be eligible for longer loan terms.  ","items":[]},{"content":"Income: Having a reliable source of income is essential to getting a loan. Lenders prefer applicants with a stable source of income in order to reduce risk, regardless of whether they work as professionals, self-employed, or as paid employees.  ","items":[]},{"content":"Documentation: To support your loan application, you may need to submit pay stubs, tax returns, bank statements, and employer references, depending on your job situation. ","items":[]},{"content":"Interest Rate: Your eligibility is impacted by the interest rate on your loan. Your eligibility may be increased by lower rates, but it may be decreased by higher rates.  ","items":[]},{"content":"Loan Term: Choosing a longer loan term can result in lower monthly payments, which may increase your eligibility, but the cost will accrue interest over time.  ","items":[]},{"content":"Existing Loans: When determining your eligibility, lenders take into account your current debt. It would be best if you aimed to keep your debt-to-income ratio between 50% and 60% in order to continue being eligible for loans in the future.  ","items":[]},{"content":"Credit Score: Lenders evaluate your repayment behaviour by looking up your credit history with organisations like CIBIL. A negative credit report entry may make it more difficult for you to get a house loan. ","items":[]}]}},{"type":"cta","data":{"link":"\/credit-score.html?variant=slide&WT.mc_id=CROSS_SELL_IL_HLBUTTON_89121&utm_source=bb&utm_medium=seo&utm_campaign=CROSS_SELL_IL_HLBUTTON_89121","linkText":"Check Your Credit Score for Free"}},{"type":"paragraph","data":{"text":"<strong>How to Check Home Loan Eligibility for Salaried and Self-Employed?<\/strong>"}},{"type":"paragraph","data":{"text":"The eligibility criteria for home loans differ slightly for salaried and self-employed employees. For most lenders, the requirement in regard to the age bracket, residential status, <a href=\"\/cibil\/cibil-credit-score.html\" target=\"_blank\">credit score<\/a>, etc. are usually the same for both salaried and self-employed employees. However, the requirement in terms of the overall working experience and minimum income can differ. On the basis of your employment status, you can get in touch with your lender and find out the requirement for the minimum work experience and the minimum income."}},{"type":"paragraph","data":{"text":"If you are a salaried individual working in a private company, you can check <a href=\"\/home-loan\/resources\/how-private-employees-can-get-a-home-loan.html\" target=\"_blank\">how private employees can get home loan<\/a>."}},{"type":"image","data":{"float":"no-float","lazy":true,"src":"https:\/\/static.bankbazaar.com\/images\/india\/infographic\/tips-to-boost-home-loan-eligibility.webp","alt":"Tips to Boost Your Home Loan Eligibility","title":"Tips to Boost Your Home Loan Eligibility"}},{"type":"paragraph","data":{"text":"<strong>Tips to Boost Your Home Loan Eligibility <\/strong>"}},{"type":"list","data":{"style":"unordered","items":[{"content":"<strong>Enhance Your Credit Score<\/strong>: Your credit score, a three-digit number reflecting your creditworthiness, plays a crucial role in home loan approval and interest rate determination. Please improve it by making timely bill payments, maintaining low credit utilisation, and avoiding excessive new credit accounts. ","items":[]},{"content":"<strong>Increase Your Down Payment<\/strong>: A higher down payment reduces the loan amount, making your monthly mortgage payments more manageable. Consider allocating more funds upfront to minimise borrowing. ","items":[]},{"content":"<strong>Lower Your Debt-to-income Ratio:<\/strong> Lenders assess your debt-to-income ratio, which indicates the percentage of your monthly income allocated to debt repayment. Reducing this ratio makes you a more appealing borrower. Pay off existing debt or explore avenues to boost income. ","items":[]},{"content":"<strong>Obtain Pre-approval:<\/strong> Pre-approval demonstrates your seriousness and financial capability to sellers, giving you a clearer picture of your borrowing capacity and expected monthly payments. ","items":[]},{"content":"<strong>Explore Co-signing Options:<\/strong> If your credit score or debt-to-income ratio could be better, securing a co-signer could bolster your chances of loan approval. A co-signer assumes responsibility for loan repayment if you're unable to meet obligations. ","items":[]}]}}],"topContent":[{"type":"paragraph","data":{"text":"Home Loan Eligibility criteria have common parameters across all banks and <a href=\"https:\/\/shastra-stg1.int.bankbazaar.com\/tax\/nbfc-non-banking-financial-company.html\" target=\"_blank\">Non-Banking Financial Companies (NBFCs)<\/a>. However, there could also be specific criteria that are applicable to each lender according to their requirements.  "}}],"metaTitle":"Home Loan Eligibility Calculator - Housing Loan Eligibility","hideUserReviews":true,"interLinks":{"asLeftNav":false,"items":[{"title":"Home Loans by Banks","items":[{"title":"SBI Home Loan","link":"\/sbi-home-loan.html","text":"SBI Home Loan"},{"title":"Axis Home Loan","link":"\/axis-home-loan.html","text":"Axis Home Loan"},{"title":"HDFC Home Loan","link":"\/hdfc-home-loan.html","text":"HDFC Home Loan"},{"title":"Canara Home Loan","link":"\/canara-bank-home-loan.html","text":"Canara Home Loan"},{"title":"PNB Home Loan","link":"\/punjab-national-bank-home-loan.html","text":"PNB Home Loan"},{"title":"IDBI Home Loan","link":"\/idbi-home-loan.html","text":"IDBI Home Loan"},{"title":"Kotak Home Loan","link":"\/kotak-home-loan.html","text":"Kotak Home Loan"},{"title":"IOB Home Loan","link":"\/iob-home-loan.html","text":"IOB Home Loan"},{"title":"YES Bank Home Loan","link":"\/yes-bank-home-loan.html","text":"YES Bank Home Loan"}]},{"title":"Home Loans by NBFC","items":[{"title":"LIC Home Loan","link":"\/lic-home-loan.html","text":"LIC Home Loan"},{"title":"Piramal Home Loan","link":"\/home-loan\/piramal-home-loan.html","text":"Piramal Home Loan"},{"title":"Indiabulls Home Loan","link":"\/indiabulls-home-loan.html","text":"Indiabulls Home Loan"},{"title":"TataCap Home Loan","link":"\/tatacap-home-loan.html","text":"TataCap Home Loan"},{"title":"PNB Housing Finance Home Loan","link":"\/pnb-housing-finance-home-loan.html","text":"PNB Housing Finance Home Loan"},{"title":"Shriram Housing Finance Home Loan","link":"\/shriram-housing-finance-home-loan.html","text":"Shriram Housing Finance Home Loan"},{"title":"Aadhar Housing Finance Home Loan","link":"\/aadhar-housing-finance-home-loan.html","text":"Aadhar Housing Finance Home Loan"},{"title":"Bandhan Bank Home Loan","link":"\/bandhan-bank-home-loan.html","text":"Bandhan Bank Home Loan"}]},{"title":"Calculator","expand":true,"items":[{"link":"\/home-loan\/emi-calculator.html","title":"Home Loan Calculator","text":"Home Loan EMI Calculator"},{"link":"\/home-loan-eligibility.html","title":"Home Loan Eligibility Calculator","text":"Home Loan Eligibility Calculator"},{"link":"\/home-loan-balance-transfer.html","title":"Home Loan Balance Transfer Calculator","text":"Home Loan Balance Transfer Calculator"},{"link":"\/home-loan\/home-loan-prepayment-calculator.html","title":"Home Loan Prepayment Calculator","text":"Home Loan Prepayment Calculator"},{"link":"\/home-loan\/repayment-calculator.html","title":"Home Loan Prepayment Calculator","text":"Home Loan Repayment Calculator"},{"link":"\/home-loan\/land-calculator.html","title":"Land Conversion Calculator","text":"Land Conversion Calculator"},{"link":"\/home-loan\/home-loan-affordability-calculator.html","title":"Home Affordability Calculator","text":"Home Loan Affordability Calculator"},{"link":"\/home-loan\/pmay-subsidy-calculator.html","title":"PMAY Subsidy Calculator","text":"PMAY Subsidy Calculator"}]},{"title":"Home Loan Articles","items":[{"title":"Top Housing Finance Companies In India","link":"\/home-loan\/top-housing-finance-companies-in-india.html","text":"Top Housing Finance Companies In India"},{"title":"Types Of Bank Loans In India","link":"\/home-loan\/different-types-of-bank-loans-in-india.html","text":"Types of Bank Loans In India"},{"title":"What is Home Loan Process","link":"\/home-loan-procedure.html","text":"What is Home Loan Process"},{"title":"What is Home Loan Provisional Certificate","link":"\/home-loan\/home-loan-provisional-certificate.html","text":"What is Home Loan Provisional Certificate"},{"title":"What is Benami Property","link":"\/home-loan\/benami-property-act.html","text":"What is Benami Property"},{"title":"What is Commercial Property Loan","link":"\/home-loan\/commercial-property-loan.html","text":"What is Commercial Property Loan"},{"title":"Partition Deed of Ancestral Property","link":"\/home-loan\/partition-deed-of-ancestral-property.html","text":"Partition Deed of Ancestral Property"},{"title":"Reasons For Home Loan Rejection","link":"\/reasons-for-home-loan-rejection.html","text":"Reasons For Home Loan Rejection"}]},{"title":"Home Loan Resources","expand":true,"items":[{"link":"\/home-loan-interest-rate.html","title":"Home Loan Interest Rate","text":"Home Loan Interest Rate"},{"link":"\/home-loan\/repo-rate.html","title":"Repo Rates","text":"Repo Rates"},{"link":"\/home-loan\/mclr.html","title":"MCLR Rates","text":"MCLR Rates"},{"link":"\/home-loan\/home-loan-processing-fee.html","title":"Home Loan Processing Fee","text":"Home Loan Processing Fee"},{"link":"\/home-loan\/documents-required-for-home-loan.html","title":"Home Loan Documents Required","text":"Home Loan Documents Required"},{"link":"\/home-loan\/plot-loan.html","title":"Compare Plot Loan","text":"Compare Plot Loan"},{"link":"\/tax-benefit-on-home-loan.html","title":"Home Loan Tax Benefits","text":"Home Loan Tax Benefits"},{"link":"\/home-loan\/home-renovation-loan.html","title":"Home Renovation Loan","text":"Home Renovation Loan"}]},{"title":"Schemes and Acts","expand":true,"items":[{"link":"\/home-loan\/pradhan-mantri-awas-yojana.html","title":"Pradhan Mantri Awas Yojana","text":"Pradhan Mantri Awas Yojana"},{"link":"\/home-loan\/pradhan-mantri-awas-yojana-gramin.html","title":"PMAY Gramin","text":"PMAY Gramin"},{"link":"\/home-loan\/pmay-urban.html","title":"PMAY Urban","text":"PMAY Urban"},{"link":"\/home-loan\/rera-act.html","title":"RERA Act","text":"RERA Act"},{"link":"\/home-loan\/property-registration-fees-and-stamp-duty-charges.html","title":"Stamp Duty Charges","text":"Stamp Duty Charges"},{"link":"\/home-loan\/encumbrance-certificate.html","title":"Encumbrance Certificate","text":"Encumbrance Certificate"},{"link":"\/home-loan\/dda-housing-scheme.html","title":"DDA Housing Scheme","text":"DDA Housing Scheme"},{"link":"\/home-loan\/land-record.html","title":"Land Records","text":"Land Records"}]}]},"id":89121,"ogImage":{"src":"https:\/\/static.bankbazaar.com\/images\/india\/infographic\/tips-to-boost-home-loan-eligibility.webp","width":400,"height":250,"alt":"Home Loan Eligibility","title":"Home Loan Eligibility"},"hideOfferTable":true,"breadCrumb":{"currentPageText":"Home Loan Eligibility Calculator","otherLinks":[{"link":"\/home-loan.html","text":"Home Loan"}]},"faqs":{"items":[{"answer":[{"data":{"text":"As mentioned earlier, home loan lenders determine the eligibility of an applicant for a home loan on the basis of their monthly income (in addition to other factors). The salary is taken into consideration to identify the loan repayment capability of the applicant. The LTV ratio or the Loan-to-Value ratio is used to assess the risk factor involved in the case of a loan disbursal."},"type":"paragraph"}],"question":"How to Check Home Loan Eligibility Based on Salary?"},{"answer":[{"data":{"text":"The eligibility for a joint home loan is dependent on the relationship of the co-applicants. The co-applicants have to be related in order to be eligible for a joint home loan."},"type":"paragraph"}],"question":"Who are eligible for a joint home loan?"},{"answer":[{"data":{"text":"You can avail of a home loan along with a co-applicant to increase the chances of the loan approval. The main role of a co-applicant is to repay the home loan along with you (if you are the main borrower)."},"type":"paragraph"}],"question":"What is the role of a co-applicant in home loan eligibility?"},{"answer":[{"data":{"text":"The Central Government, through the Ministry of Housing and Urban Poverty Alleviation, has launched the Pradhan Mantri Awas Yojana scheme under which beneficiaries can avail subsidies on their respective home loans. As per the terms and conditions of the PMAY scheme, applicants will be categorised under 4 broad categories - EWS, LIG, MIG 1, and MIG 2. PMAY eligibility criteria for these groups are decided on the basis of the annual family income."},"type":"paragraph"}],"question":"What are the eligibility criteria for home loan Subsidy?"},{"answer":[{"data":{"text":"Home loan eligibility cannot be assessed easily. For most lenders, the conditions may vary. In addition to that, the banks and lenders will be considering your present liabilities, income, assets, etc. while calculating your home loan eligibility. In case the mortgage requirement is slightly higher than the eligible loan amount, some changes in the way you present yourself can help in increasing the eligibility factor."},"type":"paragraph"}],"question":"How to improve home loan eligibility?"},{"answer":[{"data":{"text":"Yes, you can get a top up loan in addition to your existing home loan. However, in order to be eligible for the same, you will be required to make regular repayments for your existing loan."},"type":"paragraph"}],"question":"Can I get a top up loan in addition to my existing home loan?"},{"answer":[{"data":{"text":"Yes, your parents, children, and spouse are considered eligible for being co-applicants for the home loan."},"type":"paragraph"}],"question":"Are my children eligible to be co-applicants for my home loan?"},{"answer":[{"data":{"text":"Yes, you can avail of tax benefits when you take home a loan from a bank or a financial institution under Section 80C and Section 24 under the IT Act."},"type":"paragraph"}],"question":"Am I eligible for tax benefits if I take a home loan?"},{"answer":[{"data":{"text":"In case you have a poor credit score, it will be difficult for you to get a home loan. Banks or financial institutions consider your credit report to be of great value while determining your eligibility towards a loan. If you have a good scores, banks will be happy to offer you a home loan with attractive rates of interest. However, with a bad score lenders will doubt your repayment capability and might not consider you to eligible for a home loan."},"type":"paragraph"}],"question":"Will I be eligible for a home loan if I have a bad credit score?"},{"answer":[{"data":{"text":"Although there is no mandate for having a <a href=\"\/joint-home-loan.html\" target=\"_blank\">co-applicant for a home loan<\/a> in India, most of the lenders (both public and private) insist on having one to ensure the guarantee in regard to the repayment of the loan amount. In addition to that, having a co-applicant while applying for a home loan will also boost your home loan eligibility. 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