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Home Loan Affordability Calculator

Check Home Loan Affordability

Down Payment  ₹ 
Loan Tenure (in Years)
Other Existing EMIs (in INR)  ₹ 
Gross Monthly Income?  ₹ 
Loan interest rate?
%
Eligible Loan Amount Affordable Property Cost

These calculator are provided as general self-help planning tool. We do not guarantee their accuracy, or applicability to your circumstances.

Check your home loan affordability based upon your monthly income, existing loans and tax records by using codeforbanks affordability calculator.

Home loan affordability claculator gives you a clear understanding of your finances - both your home loan eligibility and the amount you can arrange from your own sources. It helps you project yourself an informed, serious and well-prepared home buyer.

What Affects Home Loan Affordability?

By using this tool one can check the value of the property you can buy and your eligible home loan amount and how much financial help required in term of buying a home loan.

All financial institutions fund an individual for a home loan based on the income and ability to pay back to the financial institutions. Usually one is expected to pay around 25% of their income as down payment and the rest is financed by the financial institution.

While you calculate your home loan affordability, it's important to know that lending institutions consider factors like relative health of one's former income tax records, outstanding loans and payments that one owes to creditors as one of the few factors before arriving at the final eligibility.

Benefits of Affordability Calculator

Below are some of the benefits of affordability calculator:

  • Accessibility:This online home loan affordability calculator is accessible from anywhere from any device.
  • Accuracy: Using a affordability calculator you can check your eligible loan amount accurately than calculating the numbers yourself.
  • Rate of Interest: As stated above, EMI calculations need to be done even before you start your loan application. A EMI Calculator can help you with this.
  • Fast Calculation: As soon as you enter loan amount, tenure (in months) and interest rate, downpayment, it immediately calculates the affordability on a click.
  • Affordable Property: Home Loan Affordability calculator which helps you measure the value of property you can buy and your eligible home loan amount.