Home Affordability Calculator
How much house you can afford from income, EMIs, savings, stamp duty and RBI LTV
| Interest rate | Max loan on income | Home you can afford |
|---|---|---|
| 7.5% | ā¹80,68,000 | ā¹55,55,000 |
| 8% | ā¹77,71,000 | ā¹55,55,000 |
| 8.5% | ā¹74,90,000 | ā¹55,55,000 |
| 9% | ā¹72,24,000 | ā¹55,55,000 |
| 9.5% | ā¹69,73,000 | ā¹55,55,000 |
| 10% | ā¹67,35,000 | ā¹55,55,000 |
Runs entirely in your browser. Nothing you type or upload is sent to us or stored.
Results are estimates, not financial advice. Rates, charges and rules change, so confirm with your bank, post office or a financial adviser before you decide. Terms of use
How to Use
- Enter your monthly take-home income (add a co-applicant's if you're applying jointly) and any existing EMIs.
- Set the FOIR, the share of income banks let you spend on all EMIs (50% is a common figure).
- Enter the home loan interest rate and tenure.
- Enter the money you have saved for the purchase and your state's stamp duty + registration %. Keep the RBI loan-to-value limits switched on.
- The home price you can afford, the loan, the EMI and your own contribution update as you type. The note tells you whether your income or your savings set the limit.
How much house can you afford?
The price of the home you can buy depends on two things: how big a loan your income can support, and how much cash you have for the down payment, stamp duty and registration. Banks check both. This home affordability calculator works out each limit and tells you which one decides your budget, so you know whether you need to save more or can borrow more.
Step 1: the EMI your income allows (FOIR)
Max loan = Max EMI Ć [(1 + r)n ā 1] Ć· [r Ć (1 + r)n]
FOIR (fixed obligations to income ratio) is the share of your income a bank lets go to all EMIs together. It's usually between 40% and 60%, with higher limits for higher incomes. Any car, personal or education loan EMIs you already pay cut into what's left for the home loan. r is the monthly interest rate and n the tenure in months.
Step 2: RBI's loan-to-value (LTV) limits
Banks can't lend the full value of a home. RBI caps housing loans to individuals as a share of the property's value, depending on the loan size:
| Housing loan amount | Maximum LTV | Minimum down payment |
|---|---|---|
| Up to ā¹30 lakh | 90% | 10% |
| Above ā¹30 lakh, up to ā¹75 lakh | 80% | 20% |
| Above ā¹75 lakh | 75% | 25% |
Source: RBI's housing finance instructions for banks, as consolidated in its Master Circular on Housing Finance (April 2025); check rbi.org.in for any later change. Stamp duty, registration and other documentation charges are not counted in the property value for LTV, except for homes costing up to ā¹10 lakh, so you pay them from your own money. Banks can lend less than these limits, and housing finance companies follow similar rules.
Step 3: the price you can afford
Your savings must cover the down payment plus stamp duty and registration. The calculator finds the highest price where savings + loan = price + stamp duty, with the loan limited by both your income (step 1) and the LTV cap (step 2).
Worked example
Priya takes home ā¹1,50,000 a month, pays a ā¹10,000 car EMI, and has saved ā¹15 lakh. Her bank allows a 50% FOIR, the rate is 8.5% for 20 years, and stamp duty plus registration is 7%.
- Max new EMI = 1,50,000 Ć 50% ā 10,000 = ā¹65,000, which supports a loan of about ā¹74.9 lakh.
- But a loan above ā¹30 lakh needs a 20% down payment, and stamp duty adds 7%. Her ā¹15 lakh must cover 27% of the price: 15,00,000 Ć· 0.27 = about ā¹55.5 lakh.
- So she can afford a home of about ā¹55.5 lakh, with a loan of about ā¹44.4 lakh (EMI about ā¹38,570). Her savings, not her income, set the limit.
With ā¹30 lakh saved instead, the limit becomes her income: the full ā¹74.9 lakh loan plus ā¹30 lakh buys a home of about ā¹98 lakh.
Before you decide
- Keep a buffer. The most a bank will lend isn't the same as a comfortable budget. Leave room for an emergency fund, insurance and rate rises on a floating-rate loan.
- Budget for the extras: brokerage, interiors, moving, society transfer charges and maintenance deposits.
- Check your state's stamp duty. Rates differ by state, city and sometimes for women buyers.
- Banks also look at your age (the loan usually has to end by 60ā70), credit score, job stability and the property's legal title.