Max Allowed Monthly Housing EMI
₹ 50,000
Eligible Loan Amount
₹ 66,22,430
Down Payment Contribution
₹ 15,00,000
Max House Purchase Price
₹ 81,22,430
About the House Affordability Tool
Our free House Affordability Tool helps prospective home buyers determine the maximum property price they can comfortably purchase based on their income, existing debt commitments, available down payment, and prevailing mortgage rates.
How Home Affordability Is Evaluated
Lenders evaluate your borrowing capacity using standard Debt-to-Income (DTI) metrics:
- Fixed-Obligation to Income Ratio (FOIR): Most financial institutions cap your total monthly debt obligations (including your new housing EMI and existing loans) at around 40% to 50% of your gross monthly income.
- Loan Eligibility: Your maximum eligible loan amount is calculated by determining the largest monthly EMI you can service after accounting for other ongoing liabilities over your chosen tenure.
How to Use the Calculator
Simply enter your financial details or adjust the interactive range sliders:
- Gross Monthly Income: Your total earnings before taxes and payroll deductions.
- Existing Monthly Debts: Combined monthly commitments for car loans, personal loans, or credit card dues.
- Available Down Payment: The upfront capital you have saved to contribute toward the property purchase.
- Interest Rate & Tenure: The mortgage interest rate and repayment duration.
Click the Calculate Affordability button to instantly view your maximum allowed housing EMI, eligible loan sanction, and total home purchase budget.
Frequently Asked Questions (FAQs)
What is the 28/36 rule in house affordability?
The 28/36 rule suggests that a household should spend a maximum of 28% of its gross monthly income on housing expenses and no more than 36% on total debt servicing combined.
Does a higher down payment increase home affordability?
Yes. A larger down payment reduces the required loan principal, which lowers your monthly EMI burden and allows you to target a higher total property purchase price.
What additional costs should I account for when buying a house?
Beyond the purchase price, you should budget for stamp duty, registration charges, legal fees, GST (for under-construction properties), home insurance, and ongoing property maintenance.
