Your eligibility criteria for a home loan is primarily decided by your present income and your repayment capacity. Our home loan eligibility calculator helps you in finding out the loan amount you may be eligible for so that you can plan better. Our loan eligibility calculator helps you calculate your maximum loan eligibility in lap in a few easy steps.
All you have to do is put in your city, date of birth, net monthly income and the preferred tenure for which you need to take the loan. The calculator will then calculate the loan amount you can apply for successfully.
What is a Home Loan Eligibility Calculator?
The home loan eligibility calculator is a tool to help you determine your eligibility to apply for a home loan.
How is Home loan eligibility calculated?
The primary criteria for you to be eligible to apply for a home loan is that you must be a salaried employee in the age bracket of 23 – 62 years. If you fit the criteria, you can go ahead and use the loan calculator on salary basis to determine the maximum loan you can take.
Factors determining your eligibility:
The primary factors to determine your loan is your income as well as repayment capacity.
Other factors that affect your eligibility are your present financial position, age, credit score and other ongoing liabilities.
Maximum loan for salaried people can be enhanced by adding an earning member of your family as a co-applicant.
Other ways to maximise your eligibility:
Look out for a structured repayment plan
Ensure regular investments and savings along with a steady flow of income
Submit details of additional regular incomes, if any,
Keep a track record of your variable salary components
Rectify errors in your credit score.
Repay your ongoing loans and debts.
Read more info about the maximum loan eligibility in lap https://www.inrcredit.com/loan/eligibility-calculator
Source: https://www.wattpad.com/841564418-home-loan-eligibility-calculator
