How much home loan can I get on a ₹50000 salary?

The home loan amount you can get depends on factors like your income, liabilities, credit score and property value. Loan providers use the multiplier method to determine how much home loan you are eligible for based on your annual income. Most lenders offer loan amounts up to 5 times your annual income.

For example, with a monthly salary of ₹50,000 and no existing loans, you can get a home loan of approx ₹20-25 lakhs.

Financial institutions evaluate your repayment capacity based on your net monthly income after deducting existing EMIs. A decent credit score and a low debt-income ratio help increase your eligibility. Including a co-applicant can add to your eligible loan amount.

Other factors assessed are your job profile, work experience, income stability and continuity. Salaried applicants with longer work tenure often get higher loan amounts compared to new or self-employed applicants. You can also utilise the home loan EMI calculator to under the interest payable and the EMI for a particular loan amount.