I work in a bank and deal with home loan applicants all day. I will try to resolve your query: how much home loan can I get on 90000 salary? Banks, public and private, both typically take into account several factors such as your income, credit score etc.
Looking for home loans? Check out NoBroker to apply for home loans starting at 7.3%
How much loan can I get on 90000 salary?
Loan-to-Value (LTV) is the percentage of the property price that the lender (bank or financial institution) funds when a borrower avails a home loan. Usually, the LTV offered by banks ranges on 75-90 percent of the house’s valuation. According to the Reserve Bank of India, if a borrower avails a home loan up to Rs 30 lakh, the LTV can be 90 percent or lesser.
How much housing loan can I get on 90000 salary?
To find how much a housing loan can you get on a 90000 salary. You can use the multiplier method.Banks and NBFCs use this method to determine the loan amount eligibility. Banks offer home loan amounts 6 times of applicant’s gross annual income.
Take a look at the table to know Maximum loan amount for that applicants can get via Multiplier Method:
Monthly Salary |
Maximum Loan Amount |
Rs. 20,000 |
Rs. 14,40,000 |
Rs. 30,000 |
Rs. 21,60,000 |
Rs. 40,000 |
Rs. 28,80,000 |
Rs. 50,000 |
Rs. 36,00,000 |
Rs. 60,000 |
Rs. 43,20,000 |
Rs. 70,000 |
Rs. 50,40,000 |
Rs. 80,000 |
Rs. 57,60,000 |
Rs. 90,000 |
Rs. 64,80,000 |
Rs. 1 lakh |
Rs. 72,00,000 |
If you need more help with ‘how much home loan can i get on 90000 salary’, check out the links given below.
Use the NoBroker EMI calculator to determine EMI for a home loan Read more: How much home loan can I get on 100000 salary? What is lender name in home loan? Is property insurance mandatory for home loan?
Authors Of The Question
How much home loan can I get on 90000 salary?
Anonymous
2999Views
1 Year
2023-05-17T15:50:27+00:00 2023-05-24T12:27:33+00:00Comment
1 Answers
Share