Home Loan Eligibility & EMI Calculator

Find the right home—and the right loan—faster.

At Keralarealestate.com, we’re committed to making your property journey simple and stress-free. Our Home Loan Eligibility and EMI Calculator helps you estimate how much you can borrow and what your monthly EMI (Equated Monthly Installment) will be—quickly and accurately.

Whether you’re planning to buy a house in Kochi, a villa in Trivandrum, or a plot in Calicut, this tool helps you make informed financial decisions before you commit.

Just enter your:

• Monthly income
• Existing EMIs or liabilities
• Preferred loan tenure and interest rate

Get instant results on:

• Your maximum eligible loan amount
• Estimated monthly EMIs

Take the guesswork out of home buying. Let's check your home loan eligibility criteria before applying for a house loan:

Your Monthly Salary (INR) Tenure (Years) Interest Rate (% P.A) Other Monthly EMI (INR)

Understanding Home Loan Eligibility

Before applying for a home loan, it is crucial to understand the eligibility criteria to avoid loan rejection that can impact your credit score. Home loan eligibility refers to the parameters based on which all banks and non-banking financial companies (NBFCs) evaluate the creditworthiness and repayment capability of the loan applicant. Therefore, having a clear idea about the criteria and fulfilling the same will make the process faster and effortless for you.

How Do Lenders Determine Your Home Loan Eligibility?

Home loan eligibility is calculated based on your monthly income, existing financial obligations, credit score, age, and loan tenure. Banks use this information to assess your repayment capacity and decide how much they can lend you.

Below are some key factors that influence your home loan eligibility. Let’s explore them in detail.

• Age: Age is the topmost criterion banks or lenders consider when determining home loan eligibility. Most financial institutions limit the home loan tenure to an individual’s retirement age. Thus, older people may find it difficult to get a longer-tenure loan or may not be eligible if they are nearing retirement unless they have proof of regular income source.
• Credit Score: The credit score is another important factor based on which lenders assess the ability of the borrower to repay the loan. The CIBIL score is a three-digit number that is a summary of your credit history. It is advisable to check the minimum CIBIL score for a home loan since a poor credit score can lead to higher interest rates or loan rejection.
• Income Stability: The source of income and job stability for salaried individuals, for example, are taken into consideration by financial institutions when approving loan applications. Similarly, self-employed individuals can be eligible for a loan if they prove they have a steady income source.
• Property Details: The age and location of the property you have selected are among the crucial factors that lenders consider when approving a home loan. It is the security against which you avail of the loan. Moreover, the loan application would get rejected if the tenure is longer than the remaining years of the property. Hence, banks usually conduct a technical and legal investigation of the property before sanctioning the loan.
• Loan-to-Value (LTV): The loan-to-value ratio or LTV in home loan refers to the ratio of the loan amount to the appraised value of the property. It is one of the risk assessment tools or methods banks use to minimize the chances of defaults. Simply put, it is the percentage of the property value that a financial institution can lend to a home buyer.
• Debt-to-Income Ratio: Lenders and financial institutions consider the debt-to-income ratio, which is a measure of the prospective borrower’s repayment capacity. It is calculated as a percentage by dividing a person’s net monthly debt payments by the net monthly income.

Review the table below to understand the key factors that lenders consider when determining home loan eligibility:

Factor	Criteria
Age (In years)	Minimum age: 18, Maximum age: 65 (70 for a self-employed individual)
Credit Score	Above 750
Loan-to-Value (LTV) Ratio	Up to 90%
Employment Status	Salaried or Self-Employed Professional/Non-professional
Minimum Net Income	Rs 25,000 (monthly salary)
Type of Property	Plot/Land, Under Construction/ Completed Project, Home Construction
Loan Amount	Decided by the lending institution
Residence Type	Permanent Resident/ Non-resident Indians (NRIs)

Disclaimer: Eligibility requirements may differ across banks and lending institutions. The above information is indicative.

What Documents Are Required for a Home Loan?

When applying for a home loan, banks and financial institutions generally require certain key documents to evaluate your eligibility. Specific documentation may vary depending on the lender, the type of home loan, and individual borrower profiles.

Here is a list of commonly required documents that most applicants will need to submit:

• Duly completed home loan application


• Identity Proof (any one of the following):
  • PAN Card
  • Aadhaar Card
  • Passport
  • Voter ID
  • Driving License
• Address Proof (any one of the following):
  • Aadhaar Card
  • Utility Bills (Electricity/Water/Gas)
  • Passport
  • Voter ID
  • Bank Passbook with Address
• Income Proof
  • For Salaried Individuals:
    • Latest salary slips (usually for the last 3–6 months)
    • Form 16 or Income Tax Returns (ITR)
    • Bank statements showing salary credit (last 6 months)
  • For Self-Employed Individuals:
    • Income Tax Returns (for the last 2–3 years)
    • Audited financial statements (Profit & Loss account, Balance Sheet)
    • Business registration certificate or proof of business continuity
    • Bank account statements (business and personal – last 6 months)
• Employment Proof
  • Employment certificate or offer/appointment letter
  • Experience letter or proof of employment continuity (for salaried applicants)
• Property Documents
  • Copy of the sale agreement or booking agreement
  • Title deed/ownership documents
  • Approved building plan
  • Property tax receipts
  • Encumbrance certificate
• Photographs
  • Passport-sized photographs of the applicant and co-applicant(s)

Impact of Age on Home Loan

Age is a key factor in determining your eligibility for a home loan. While the maximum age limit to avail of a home loan in India typically goes up to 65 years for salaried individuals and 70 years for self-employed individuals, it’s important to understand how age can influence loan terms such as tenure and sanctioned amount.

Young professionals in their 20s and 30s often enjoy higher disposable incomes and longer working years ahead. This allows them to access home loans with longer repayment tenures and higher loan amounts, making it easier to manage monthly EMIs. Most lenders offer a maximum loan tenure of up to 30 years.

In contrast, applicants in their 40s or those approaching retirement may face more limited options. Since lenders factor in the remaining working years to assess repayment capacity, older applicants are typically eligible for shorter loan tenures and may be approved for lower loan amounts.

Before applying, it's essential to review the age-related eligibility criteria set by the lender. Below is a general guide to the maximum loan tenure based on age:

Age of the Applicant (in years)	Maximum Loan Tenure for Salaried Individuals	Maximum Loan Tenure for Self-employed Individuals
25	30 years	30 years
30	30 years	30 years
35	30 years	30 years
40	30 years	30 years
45	20 years	20 years

How to Boost Your Home Loan Eligibility

Factors such as increasing age or an unstable income can sometimes make it challenging to qualify for the ideal home loan for your dream property. However, there are effective ways to strengthen your loan eligibility. Here are five practical tips to help you improve your chances of securing a home loan with better terms:

• Maintain a Good Credit Score
  A healthy credit score is one of the most important factors lenders consider. Regularly check your credit report, pay your bills on time, and avoid taking on unnecessary debt to keep your credit score high.
• Increase Your Income or Add a Co-Applicant
  Boosting your income improves your repayment capacity. If possible, add a co-applicant such as a spouse or close family member with a steady income, which can increase the total eligible loan amount.
• Reduce Your Existing Debt Obligations
  Lenders evaluate your debt-to-income ratio before approving a loan. Paying off existing loans or credit card balances can reduce your liabilities and improve your eligibility.
• Save a Larger Down Payment
  A higher down payment lowers the loan amount you need to borrow, making you a more attractive borrower. It also reduces the lender’s risk, potentially leading to better loan terms.
• Choose a Suitable Loan Tenure
  Selecting a loan tenure that aligns with your repayment capacity is crucial. Longer tenures reduce monthly EMIs, improving affordability, but may increase overall interest. Finding the right balance can boost your eligibility.

Understanding Home Loan Eligibility with India’s Top Lenders

The table below outlines the home loan eligibility criteria for several prominent lenders in India: