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Home Affordability Calculator India

Loan

Find out what price home you can afford in India based on your income, savings, and existing EMIs. See your maximum home price and required down payment.

🇮🇳This tool is specific to India

eighty thousand rupees

₹15,000₹10,00,000
₹0₹2,00,000

ten lakh rupees

₹0₹1,00,00,000
515
530
3070

Affordable Home Price

₹56.09 L
Maximum Loan Amount
₹46.09 L
Monthly EMI
₹40,000
Down Payment as % of Home Price
17.83%
Down Payment Amount
₹10.00 L

Breakdown

How the total splits

Maximum Loan Amount
₹46.09 L
Down Payment Amount
₹10.00 L

This calculator computes your Affordable Home Price, Maximum Loan Amount, Monthly EMI, Down Payment as % of Home Price, Down Payment Amount from the values you enter.

Inputs
Monthly Net IncomeExisting Monthly EMIsDown Payment AvailableHome Loan Interest RateLoan TenureFOIR (Fixed Obligations to Income Ratio)
Outputs
Affordable Home PriceMaximum Loan AmountMonthly EMIDown Payment as % of Home PriceDown Payment Amount

What is a Home Affordability?

The Home Affordability Calculator India works out the maximum home price you can realistically afford, based on your income, existing debts, savings, and the loan terms you expect to get. It's built around FOIR — Fixed Obligations to Income Ratio — the metric Indian lenders use to cap how much of your take-home pay can go toward EMIs.

Most people start home shopping with a home loan EMI calculator, plugging in a property price they've already fallen for and checking whether the EMI feels manageable. That's backwards. This calculator flips the process: it starts from what you can actually afford each month, and works out the home price that fits, so you go into property hunting with a real budget instead of a guess.

It's a natural first step before the Home Loan EMI Calculator, which tells you the exact EMI once you've picked a specific loan amount and tenure.

How to use this Home Affordability calculator

  1. Enter your Monthly Net Income — your take-home pay after tax, not your gross salary.
  2. Add any Existing Monthly EMIs from other loans, so the calculator accounts for your real repayment capacity.
  3. Enter the Down Payment Available — your savings earmarked for the purchase.
  4. Set the Home Loan Interest Rate you expect to get, and adjust the slider if you want to test different rate scenarios.
  5. Choose your preferred Loan Tenure in years — longer tenures raise affordability but increase total interest.
  6. Adjust FOIR if you want a more conservative or more aggressive affordability estimate than the 50% default.
  7. Review the Affordable Home Price result, then use the Maximum Loan Amount and Down Payment Amount to plan your next steps.

Formula & Methodology

Maximum EMI (FOIR rule):

Max EMI = (Monthly Income × FOIR%) − Existing EMI

Maximum loan amount (standard EMI formula solved for principal):

P = EMI × [1 − (1 + r)⁻ⁿ] ÷ r

where r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months.

Affordable home price:

Home Price = Maximum Loan Amount + Down Payment

Worked example: ₹80,000 monthly income, no existing EMI, ₹10,00,000 down payment, 8.5% interest, 20-year tenure, 50% FOIR:

- Max EMI = (₹80,000 × 50%) − ₹0 = ₹40,000
- r = 8.5 ÷ 12 ÷ 100 = 0.00708, n = 240 months
- Max loan amount ≈ ₹40,000 × [1 − (1.00708)⁻²⁴⁰] ÷ 0.00708 ≈ ₹46,50,000
- Affordable home price ≈ ₹46,50,000 + ₹10,00,000 = ₹56,50,000

Frequently Asked Questions

Lenders typically cap your EMI at 40–50% of your take-home income, a ratio called FOIR (Fixed Obligations to Income Ratio). This calculator applies your FOIR to your monthly income, subtracts any existing EMIs, and works backward from the remaining EMI capacity to the maximum loan — and home price — you can support.
FOIR stands for Fixed Obligations to Income Ratio — the share of your monthly income that goes toward loan payments and other fixed obligations. Banks use it as a affordability guardrail, and most lenders in India keep it between 40% and 50% depending on your income bracket and credit profile.
Yes, directly. Your maximum home price is your maximum loan amount plus your down payment, so every extra rupee saved for a down payment adds a rupee to what you can afford, without touching your EMI capacity at all.
A bank's approval is based on its own eligibility formula and your credit score, which can sometimes stretch beyond what's comfortable. This calculator uses a conservative FOIR to estimate what you can afford without straining your monthly budget — worth checking even if a lender has already pre-approved you for more.
Any existing EMI — a car loan, personal loan, or another home loan — is subtracted from your FOIR-based EMI capacity before the calculator works out your new loan eligibility. A ₹15,000 existing EMI can meaningfully shrink the loan amount you're able to take on for a new property.
A longer tenure lowers your EMI for the same loan amount, which raises how much you can borrow — but it also means paying more total interest over the life of the loan. Run the [Home Loan EMI Calculator](/home-loan-emi-calculator-india/) at a few different tenures before deciding this trade-off is worth it.
You can, though lenders often apply a somewhat lower FOIR or a more conservative income figure for self-employed applicants due to income variability. Enter your average verifiable monthly income and consider testing a lower FOIR than the default to get a more cautious estimate.
Use your take-home pay after tax and statutory deductions, not your gross CTC. Lenders assess affordability against what actually lands in your account each month, and using gross income here will overstate what you can really afford.
Enter your Monthly Net Income, any Existing Monthly EMIs, and the Down Payment Available, then set your expected Home Loan Interest Rate, Loan Tenure, and FOIR. The result updates instantly, showing your Affordable Home Price, Maximum Loan Amount, and the down payment split.
Use that home price to shortlist properties within budget, then move to the [Home Loan EMI Calculator](/home-loan-emi-calculator-india/) to confirm the exact EMI for a specific property you're considering, and the [Rent vs Buy Calculator](/rent-vs-buy-calculator-india/) to check whether buying at that price actually beats renting where you live.

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This calculator is step 1 of 5 in our Home Buying Planner.

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