Home Affordability Calculator India — FY 2025-26
Find out how expensive a home you can afford based on your income and savings. For India. Uses current FY 2025-26 data.
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Combined household income before tax
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Car loans, personal loans, credit card minimums per month
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Cash you can put down (should include closing costs)
Common questions — India
How much of my income should go towards home loan EMI?
General guideline: total debt obligations (all EMIs) should not exceed 40–45% of gross monthly income. If you have no other loans, you could stretch to 45% for the home loan EMI alone. Being more conservative (30–35%) gives you breathing room for rate increases and life events.
How much down payment do I need?
RBI mandates minimum 10–20% down payment for home loans (loan-to-value ratio max 80–90% depending on loan amount). Practically, a larger down payment means lower EMI, less interest, and potentially better loan terms. Aim for at least 20% of the property value.
What is the impact of credit score on home loan eligibility?
CIBIL score above 750: best rates, full loan amount. 700–750: slightly higher rate. 650–700: harder to get, higher rate. Below 650: most banks will decline. Your spouse's income (if applicable) combined with your income improves eligibility — both credit scores matter in a joint application.
Are there hidden costs I should factor in?
Yes. Beyond the price: stamp duty (3–8% of property value depending on state), registration (1%), property tax, maintenance/society charges, interior fit-out (₹500–2,000/sq ft), moving costs. Total out-of-pocket is typically 10–15% above the property price.
Should I buy or continue renting?
Use the price-to-rent ratio: Annual rent ÷ Property value. If below 3%, buying is usually better. If above 3%, renting + investing the difference may be better financially. But non-financial factors — stability, customisation, family — matter too. Use the rent-vs-buy calculator for a detailed comparison.