Furnishing details of your regular additional income sources.

Ensuring a steady income flow, regular savings and investments.

Adding an earning family member as co-applicant.

The eligibility for Home Loan can be enhanced by

Other Financial Obligations: Existing liabilities such as a car loan, credit card debt, etc.

Past and Present Credit History and Credit Score: A clean repayment record is considered positive.

Financial Position: The present and the future income of applicant(s) has a significant impact on determining the loan amount.

Age Limit for Self-Employed Individuals: 21 to 65 years.

Age Limit for Salaried Individuals: 21 to 65 years.The maximum loan term is generally capped at 30 years. Present Age and Remaining Working Years: The age of the applicant plays a major role in determining home loan eligibility.Housing loan eligibility is primarily dependent on the income and repayment capacity of the individual(s).There are other factors that determine the eligibility of home loans such as age, financial position, credit history, credit score, other financial obligations etc. If a person is 30 years old and has a gross monthly salary of ₹30,000, he can avail a loan of ₹20.49 lakh at an interest rate of 6.90% for a tenure of 30 years provided he has no other existing financial obligations such as a personal loan or car loan etc. Illustration : How Much Loan Can I Avail?įor e.g. Home loan eligibility depends on criteria such as age, financial position, credit history, credit score, other financial obligations etc. Home loan eligibility is defined as a set of criteria basis which a financial institution assesses the creditworthiness of a customer to avail and repay a particular loan amount.

We do not guarantee their accuracy, or applicability to your circumstances. Results depend on many factors, including the assumptions you provide. These calculators are provided only as general self-help Planning Tools.

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