Property Affordability Calculator

Banks typically lend 50–60× monthly net income. Your EMI-to-income ratio (FOIR) must stay below 40–50% of gross income. Existing EMIs reduce eligibility directly. Example: ₹80,000 net income, no existing EMIs, 50× multiplier = ₹40 lakh loan eligibility. With ₹15 lakh down payment, maximum property value = ₹55 lakhs.

Minimum down payment is 10–20% of property value (banks finance 80–90% LTV). However, a 30% down payment significantly reduces EMI burden, eliminates PMI-equivalent charges, and provides buffer against property value corrections. Never use your entire emergency fund for down payment — keep 6 months expenses liquid.

Additional home purchase costs: Stamp duty (4–7% in Tamil Nadu, 5–6% in Maharashtra), Registration (1%), GST on under-construction (5% for below ₹45L, 12% above), broker commission (1–2%), lawyer fee (₹20,000–50,000), home loan processing fee (0.5–1%), interior and modular kitchen (₹5–25 lakhs). Budget 12–18% over property price for all-in cost.

Home loan interest rates (2026): SBI 8.40–9.65%, HDFC 8.45–9.80%, ICICI 8.40–9.90%, Axis 8.50–9.75%. Women borrowers typically get 0.05% lower rate. Rate type: floating rates reset with RBI repo rate; fixed rates provide certainty but are higher. Over 20 years, a 0.25% difference equals ₹3–5 lakhs of additional interest.

CIBIL score above 750: best interest rates, high approval probability. 700–750: loan approved with standard terms. 650–700: approval possible but higher rate, lower LTV. Below 650: likely rejection from major banks — approach HFCs (Housing Finance Companies) or improve score first by clearing dues and maintaining payment history for 6–12 months.