How to check home loan eligibility?

When I had to buy a house and get a home loan for it, I thought of checking my home loan eligibility. I wasn’t sure

how to check my eligibility for home loan, So I checked the bank’s website for the same. Many bank websites have their own eligibility calculator. So, you can just enter your

basic personal and financial information, and the calculator can tell you how much amount you are eligible to get. 

How to Calculate Home Loan Eligibility Amount?

There are a few ways to check your home loan eligibility in India online:

• Use a home loan eligibility calculator. Most banks and financial institutions have home loan eligibility calculators on their websites. To use a calculator, you will need to enter your basic personal and financial information, such as your age, income, and employment status. The calculator will then provide you with an estimate of your home loan eligibility.

• Check with your bank or financial institution. You can also contact your bank or financial institution directly to check your home loan eligibility. They will be able to provide you with a personalized assessment of your eligibility based on your individual circumstances.

• Use a third-party online service. There are also a number of third-party online services that offer home loan eligibility checks. These services typically charge a fee, but they can provide you with a quick and easy way to check your eligibility.

I hope now you know how to calculate your home loan eligibility.

Hey pal,

If you are looking to buy a property in 2023, you will want to know how to check eligibility for home loan. Most banks have an eligibility criteria for availing a home loan/personal loan/mortgage etc. I will discuss key factors for the same below.

The bank will consider your credit score, income, existing loan payments before approving your home loan application.There are certain banks that have a pre-approval process, where you can apply for a loan online and get an instant decision on your eligibility.

You can visit the bank website to read the eligibility criteria. To get a home loan from HDFC bank, you will need to fulfil the following:

• Minimum age of 21 years and maximum age of 65 years

• Minimum income requirement of Rs. 25,000 per month for salaried individuals and Rs. 6 lakhs per annum for self-employed individuals

• Credit score of 650 or above

• Maximum loan amount of up to 90% of the property value, depending on the borrower's income and repayment capacity

- Banks these days have  an easy-to-use eligibility calculator on their website. You need to open the webpage of the bank. Eg if your bank is HDFC, open

-Navigate to the home loan page.

-Input your details including salary, tenure period, existing EMIs or loan payments.

-Next step on how to check eligibility of home loan is hitting enter

The calculator will provide you with exact details on your  borrowing capacity.

For e.g. If a person is making ₹30,000 monthly, he can avail a loan of ₹20.49 lakh at an interest rate of 6.90% for a tenure of 30 years provided he has no other existing financial obligations.

I hope my answer on how to check eligibility for home loan has cleared your confusion.

Read more:

When you are trying to apply for a home loan, there many factors and components which play a huge role. Before anything else, it is important to know whether or not you stand eligible for it. These days banks and financial institutions upload all the information related to eligibility and requirements for home loan on their official websites. However, they may differ as per their own policies. In this answer I will share with you the steps on how to check home loan eligibility online.

There are a couple of ways by which you may know how to check housing loan eligibility. Here are the tips for you:

This is the most convenient way to check your eligibility for the housing loan. You can simply search for home loan eligibility along with the bank name and the searches will show up. 

If you are in the middle of the home loan search, I would suggest you simply contact NoBroker Home Loan service and check your eligibility. Their dedicated manager will help you check your home loan eligibility and fasten the process for approval. Not only this, they help you get funding of up to 100%.

Another way on how to check home loan eligibility is simply by visiting the nearest bank branch. You can go to the bank manager or the home loan department, their representatives guide you throughout the process. You can go in and ask all your questions. Here is a list of questions you can ask the bank representatives:

1. What are the documents required to apply for the home loan?

2. What is the minimum eligibility criteria to apply for home loan?

3. What is the salary or income requirement for a home loan?

4. What is the rate of interest on a home loan?

5. Are there any schemes under which you can apply for a home loan?

6. What if you take a home loan in someone else’s name, probably a female member? Is there any difference in the rate of interest offered? 

7. What are the penalties on default?

8. Can you get a home loan if your CIBIL is low?

These are a few ways on how to check home loan eligibility. I hope this helps :)