House Affordability Calculator
Find out how much house you can realistically afford based on your monthly income, existing debts, down payment, and current mortgage interest rates.
How to use the House Affordability Calculator
- Enter your gross monthly income.
- Enter existing monthly EMIs (car, personal loan, cards).
- Enter the down payment you have saved.
- Enter the expected home loan rate and tenure, then click Calculate.
Formula used
Worked example
Income ₹1,00,000, EMIs ₹10,000, down payment ₹10 lakh, 8.5% for 20 years
Max EMI = 40,000 − 10,000 = ₹30,000
Max loan ≈ ₹34.6 lakh
Affordable house price ≈ ₹44.6 lakh
How banks decide your loan amount
Indian lenders usually allow total EMIs of 40–50% of net monthly income (FOIR) and fund up to 75–90% of the property value depending on loan size, so you also need at least 10–25% as down payment. Remember extra costs: stamp duty and registration (about 5–8%), interiors and maintenance deposits. A credit score above 750 helps you get a lower interest rate.
Tips for accurate results
- Keep 6 months of expenses aside after the down payment.
- A longer tenure raises eligibility but costs more interest.
- Adding a co-applicant can increase the loan amount.
Frequently Asked Questions
Roughly ₹40–50 lakh with a 20-year loan and some down payment, depending on rates and existing EMIs.
Ideally no more than 40% across all loans.
Usually 10–25% of the property value.
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Content reviewed by Vinod, Easy Smart Calculator · Last updated October 2026
Frequently Asked Questions
How much of my income should go to housing?
A common guideline is that total housing costs (EMI + taxes + insurance) shouldn't exceed 28-40% of your gross monthly income, depending on other debt obligations.
What is the debt-to-income ratio?
Debt-to-income ratio compares your total monthly debt payments to your gross monthly income. Lenders typically prefer this ratio to stay below 40-43% for mortgage approval.
Does a larger down payment help me afford more house?
Yes, a larger down payment reduces the loan amount needed, which can increase the total house price you can afford while keeping your EMI within budget.