"How much loan will I get?" is the first question most home buyers ask — and the answer decides which homes you can even consider. Here's how banks think, in plain language.
It starts with your income and FOIR
Banks cap your total EMIs at a percentage of your monthly income — usually 40–55%. This is called FOIR (Fixed Obligation to Income Ratio). If you earn ₹1,00,000 a month and the bank uses 50%, your total EMIs (including any existing loans) can't exceed ₹50,000. Existing car/personal-loan EMIs reduce what's left for a home loan. Estimate yours with the Loan Eligibility Calculator.
Tenure changes everything
A longer tenure means a smaller EMI, so you qualify for a bigger loan — but you pay more interest overall. Play with tenure in the EMI Calculator to see the trade-off.
The other factors banks weigh
- Credit score — a higher score (750+) means easier approval and better rates.
- Age & remaining working years — affects the maximum tenure.
- Employment type — salaried vs self-employed are assessed differently.
- The property itself — banks fund up to ~75–90% of value (LTV); you fund the rest as down payment.
How to increase your eligibility
- Close or reduce existing loans before applying.
- Add a co-applicant (e.g. spouse) to combine incomes.
- Choose a longer tenure (within reason).
- Improve your credit score and keep documentation clean.
Put it together
Estimate your eligibility, then your EMI, then see what's available in your range. When you're ready, browse Chennai properties that fit — or explore everything free on FIVES.
Indicative only — actual eligibility depends on the lender's policy and your profile.