How to use this calculator
- Enter your monthly take-home salary and the EMIs you already pay.
- Set the bank’s FOIR limit, interest rate and tenure.
- Enter your own money for the house and your state’s stamp duty and registration.
Source: RBI Master Circular – Housing Finance (RBI/2024-25/11), 2 April 2024 (quantum of loan) on loan-to-value and stamp duty.
Frequently asked questions
How much home loan can I get on my salary?
Banks look at how much of your take-home salary can go to EMIs — called FOIR. With ₹1,20,000 a month in hand, ₹10,000 of EMIs already running and a 50% limit, ₹50,000 a month is left for the home loan EMI. At 8.5% for 20 years that supports a loan of about ₹57.62 lakh.
How much down payment do I need?
RBI does not let banks lend the full price. For loans up to ₹30 lakh the bank can lend at most 90% of the house value, up to ₹75 lakh 80%, and above that 75%. The rest, plus stamp duty and registration, comes from your own money.
Can the bank add stamp duty to the loan?
No. RBI tells banks not to count stamp duty, registration and other document charges in the house value, so the loan-to-value limit works on the price alone. The only exception is a house costing up to ₹10 lakh, where the bank may add these charges. This calculator takes them from your own money.
Does closing a running loan help?
Yes, a lot. In the example, without the ₹10,000 EMI you could afford a house of ₹55.56 lakh instead of ₹55.56 lakh.
Should I take a longer tenure to get a bigger loan?
A longer tenure lowers the EMI, so the bank allows a bigger loan — ₹55.56 lakh over 30 years versus ₹55.56 lakh over 20 years here. But you pay interest for longer. Take the longer tenure only if you plan to prepay.
Is the bank’s eligibility the amount I should borrow?
Not always. The bank’s limit is the most it will lend. Keep money aside for an emergency fund, interiors and moving before you choose the loan amount.