Aadhar Housing Finance Home Loan Eligibility Calculator

Buying a home is one of the most significant financial decisions in life. Before applying for a home loan, it is essential to know how much you are eligible to borrow. This is where the Aadhar Housing Finance Home Loan Eligibility Calculator comes in handy. This tool helps you estimate the loan amount you can avail of based on your income, age, credit score, and other factors.

Knowing your eligibility not only streamlines the loan application process but also helps you plan your finances better.

What is Home Loan Eligibility?

Home loan eligibility is the maximum amount a financial institution is willing to lend you for purchasing a property. It is calculated based on your financial profile, income stability, age, employment type, creditworthiness, and the property’s value.

Why Banks Assess Home Loan Eligibility:

• Risk Management: Helps banks mitigate lending risk.
• Financial Planning: Ensures borrowers are not over-leveraged.
• Regulatory Compliance: Banks must follow RBI guidelines.
• Customized Loan Offers: Determines interest rates & tenure.

How to Use Aadhar Housing Finance Home Loan Eligibility Calculator

1. Enter Your Monthly Income: Include salary & other sources.
2. Enter Loan Tenure: Up to 30 years. Longer tenure = lower EMI.
3. Enter Interest Rate: Aadhar Housing Finance offers 10.25%–14%.
4. Include Existing EMIs: Helps calculate FOIR.
5. Click Calculate: Calculator shows eligible loan amount.

Example Calculation:

• Net monthly income: ₹50,000
• Loan tenure: 20 years
• Interest rate: 10.5%
• Existing EMIs: ₹5,000
• Eligible Loan Amount: ₹45 lakh (approx.)

How is Home Loan Eligibility Calculated?

Key Terms:

• FOIR: 65–80% of income allowed for EMIs
• LTV: 60–80% of property value
• Net Monthly Income: Income minus EMIs

Step-by-Step Example:

• Income: ₹50,000
• FOIR: 70%
• Loan tenure: 20 years
• Interest rate: 10.5%

Step 1: EMI capacity = ₹35,000

Step 2: Eligible Loan ≈ ₹45 lakh

Formula for Home Loan Eligibility

Eligible Loan Amount = [ EMI × (1 – (1 + r)-n) ] ÷ r
  

• EMI = Monthly repayment capacity
• r = Monthly interest rate
• n = Tenure in months

Example:

EMI = ₹35,000

Interest rate = 10.5% (0.00875 monthly)

Tenure = 240 months

Loan Amount ≈ ₹45 lakh

Key Factors Affecting Home Loan Eligibility

1. Income Level – Higher income → higher eligibility.
2. Age – Must be 23–60 (salaried) or 23–70 (self-employed).
3. Employment Type – Stability required.
4. Credit Score – Should be 650+.
5. Property Value – Affects LTV.
6. Existing EMIs – Lower EMIs = higher FOIR.
7. Loan Tenure – Longer tenure = higher eligibility.
8. Interest Rate – Lower rates increase eligibility.

Home Loan Eligibility Criteria in India

Parameter	Requirement
Age	23–60 (salaried), 23–70 (self-employed)
Minimum Monthly Income	₹25,000 (salaried), ₹50,000 (self-employed)
Employment Experience	2–3 years
Credit Score	650+
FOIR	65–80%
LTV	60–80%
Max Loan Tenure	30 years

Benefits of Using a Home Loan Eligibility Calculator

• Quick and accurate estimate
• Saves time
• Helps in financial planning
• Shows bank-specific variations

Tips to Improve Home Loan Eligibility

• Improve credit score
• Clear existing debts
• Apply jointly
• Choose longer tenure
• Show additional income
• Maintain stable employment

Home Loan Eligibility Based on Credit Score

CIBIL Score	Impact	Tips
750+	Highest eligibility	Maintain score
650–749	Moderate eligibility	Reduce debt
600–649	Limited eligibility	Improve score
<600	Low eligibility	Reduce liabilities

Home Loan Eligibility vs. EMI

Feature	Home Loan Eligibility	EMI
Definition	Maximum loan amount	Monthly repayment amount
Depends On	Income, credit score, FOIR	Principal, interest, tenure
Purpose	Loan planning	Budget planning

Documents Required

• Identity Proof: PAN, Aadhaar
• Address Proof
• Income Proof: Salary slips, ITR
• Employment Proof
• Property Documents