How much home loan amount am I eligible for on my salary?

The maximum home loan amount you can avail of depends primarily on your net monthly income and repayment capacity.

Generally, financial institutions offer home loans up to 4 to 5 times of your annual income for salaried applicants using the multiplier method.

For example, if your net monthly salary is ₹30,000 with no existing monthly obligations, the maximum home loan amount you may qualify for will be between ₹16-18 lakhs.

Additionally, factors like your age, credit score, job stability, financial liabilities, co-applicant income, property location, etc., will be considered at the time of application, which may impact your eligible loan amount.

You can use online home loan eligibility calculators to get an estimate by entering your salary, age, location, existing EMI obligations etc.

Meeting with a loan provider’s mortgage advisor with all your income, asset and liability documents can also help figure out the maximum eligible home loan amount for your salary profile.