Loans & Debt · Before Taking a Loan
Home Affordability & Down Payment Calculator — How Much House Can I Afford?
Find the most expensive home you can buy: your income sets the EMI a lender allows (FOIR in India, the 28/36 rule in the US), RBI's loan-to-value slabs set the minimum down payment, and your savings must also cover stamp duty, registration and other costs. Or enter a home's price to see the down payment, cash and income it needs.
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Your inputs
Quick start — try a typical case
₹ 1.5 lakh
Take-home pay for the FOIR rule; gross (before tax) for the 28/36 rule. Add a co-applicant's income if applying jointly.
Share of take-home pay a lender lets all EMIs take — typically 40–60 %, higher for bigger incomes.
Car, personal, education loans and card payments.
₹ 20 lakh
Cash you can put in: down payment plus stamp duty and other costs.
Varies by state — commonly 5–8 % in total, often lower for women buyers. Banks don't usually finance it.
Your result Live
Home You Can Afford
₹70,37,000
Limited by your savings (down payment and stamp duty)
- Home Loan
- ₹56,29,630 · 80% of the price
- EMI
- ₹48,855 a month for 20 years at 8.50% (you can take up to ₹75,000)
- Down Payment
- ₹14,07,407
- Stamp Duty & Registration
- ₹4,92,593
- Other Upfront Costs
- ₹1,00,000
- Largest Loan Your Income Supports
- ₹86,42,313
- Your money · 26%₹20,00,000
- Home loan · 74%₹56,29,630
To afford more: save a bigger down payment — the loan your income supports is larger than lenders will lend on this price.
Keep an emergency fund aside — this assumes all the savings entered go into the purchase.
How this is calculated
EMI allowed = FOIR × income − existing EMIs · Loan = min(EMI allowed → loan, LTV × price) · Cash = price − loan + stamp duty + other costs ≤ savings
- FOIR
- Fixed obligations to income ratio — all EMIs as a share of take-home pay
- LTV
- Loan-to-value — RBI: 90 % for loans up to ₹30 lakh, 80 % up to ₹75 lakh, 75 % above
Two limits decide the home you can buy. Your income limits the EMI a lender will allow — and so the loan. The property price limits the loan too: RBI lets banks lend at most 90 %, 80 % or 75 % of the value depending on the loan size, so you must pay the rest as a down payment. Stamp duty and registration (about 5–8 %) come on top and are rarely financed. The calculator finds the highest price where both limits hold and your savings cover all the cash needed.
Assumptions & sources
- Reducing-balance home loan at a fixed rate for the whole tenure.
- Property value for LTV excludes stamp duty and registration.
- US rule: housing costs ≤ 28 % and all debts ≤ 36 % of gross monthly income.
- 1Housing loans — loan-to-value limits: 90 % for loans up to ₹30 lakh, 80 % above ₹30 lakh up to ₹75 lakh, 75 % above ₹75 lakh (property value excludes stamp duty and registration) — Reserve Bank of India — circular of 8 October 2015
- 2What is a debt-to-income ratio? — Consumer Financial Protection Bureau (CFPB)
Calculator ID LOAN-HOME-AFFORD-001 · version 1.0.0
Common questions
How much down payment do I need for a home loan in India?
At least 10 % of the property value for loans up to ₹30 lakh, 20 % for loans up to ₹75 lakh and 25 % above that (RBI's LTV limits) — plus stamp duty and registration, which banks usually don't fund.
What is FOIR?
Fixed Obligations to Income Ratio: the share of your monthly take-home pay that goes to EMIs. Most banks keep it at 40–60 %, so ₹1.5 lakh take-home allows ₹60,000–90,000 of total EMIs.
What is the 28/36 rule?
A US guideline: housing costs (mortgage, property tax, insurance) at most 28 % of gross income, and all debt payments at most 36 %.