Home » Home Loan Eligibility Calculator
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Frequently Asked Questions
Your home loan eligibility is determined by factors like your monthly income, credit score, age, existing liabilities, property value, and the loan amount you apply for.
The result is an estimate based on the inputs you provide. For an exact calculation and loan approval, it’s best to apply directly with the lender or financial institution.
Once your eligibility is calculated, we will provide a list of home loan products that best match your profile, including loans with competitive interest rates, flexible repayment terms, and additional perks.
Yes, most banks and financial institutions set a minimum income threshold to ensure borrowers can repay the loan comfortably. This varies from lender to lender, but typically a higher income can increase your loan eligibility.
Yes, you can still apply for a home loan even if you have an existing loan. However, the additional debt will be considered when calculating your eligibility, and your loan amount may be reduced depending on your repayment capacity.
Once you use the eligibility calculator, you can check the loan options available for your specific financial profile. The calculator suggests products based on factors like your eligibility amount, interest rates, and repayment capacity.
It may be challenging to get a home loan with a low credit score. However, some banks offer home loans to individuals with a lower score, though the interest rates might be higher. Improving your credit score before applying could increase your chances of approval.
The ideal loan tenure depends on your monthly income and repayment capacity. A longer tenure results in smaller monthly payments but may increase the total interest paid. A shorter tenure reduces the total interest but requires higher monthly payments.
Yes, you can increase your home loan eligibility by improving your credit score, reducing existing debts, increasing your income, or choosing a longer loan tenure. These factors can positively impact your loan eligibility and improve your chances of approval.
The ideal loan tenure depends on your financial goals and repayment capacity. Shorter tenures have higher monthly EMIs but lower overall interest, while longer tenures reduce your monthly payment but increase the total interest paid over time. It’s best to choose a tenure that balances affordable EMIs with minimal interest.