Home loan eligibility calculator. Check your eligibility Online, Eligibility Calculator Online

Home loan eligibility calculator is made available online by number of banks and financing institutions. Home loan eligibility calculator helps your know your amount of loan you are eligible for. Home loan eligibility calculator helps you check the eligibility in few simple steps. Get more information on Home loan eligibility calculator in the article

Updated: Aug 30,2019 17:12 IST

Vikram Sharma

Overview on Home Loan Eligibility Calculator

There are number of banks and non banking financial companies who provide home loans for different housing needs. The loan amount provided depends on various factors of the applicant like the income, repayment capacity, etc. An applicant can know his/her home loan eligibility and the credit worth beforehand and can compare the best home loan provided by the bank. A number of online sites and also each bank has its own home loan eligibility calculator for the applicants to know their credit worth.

What are the Information Needed to Calculate Home Loan Eligibility?

To calculate your home loan eligibility, the eligibility calculator will need a number of input data from the applicant. This home loan eligibility calculators gives a idea of your eligibility of your loan amount which is to be sanctioned. The information required are listed below:
  • Your Age/Date of Birth
  • Loan Tenure
  • Net Adjusted Monthly Income
  • Other Income
  • Other EMIs
  • Rate of Interest
  • Loan Amount that is expected
  • Interest rate

What is Home Loan Eligibility Calculator?

Home loan eligibility calculator is provided Online in number of Online sites and also in the bank’s site for the applicants. With Online calculator the applicants can check their eligibility in just few steps from anywhere. Home Loan Eligibility calculator helps you to understand your home loan eligibility depending on your income and repayment capacity. There are several other factors that determine your home loan eligibility like your age, financial position, credit history, credit score, other financial liabilities etc.

Who are Eligible to Avail a Home Loan?
 

There are number of banks who come forward with good offers and provide home loans. But, they set certain eligibility on which they approve the home loan applied. Eligibility to avail Home Loan is determined by the bank and differs for each bank. Here are some eligibility criteria that are most common in most of the banks. The eligibility is based on
  • Age of the Applicant
  • Income of the Applicant and Co-applicant
  • Family Details
  • Employment/Business
  • Qualification
  • Professional Experience
  • Past Loan Record
  • Details of Assets
  • Investments
The bank checks the above given criteria before approving home loan and only eligible candidates are sanctioned with loan. Apart from all these bank checks the CIBIL Score of an individual.

SBI Home Loan Eligibility Calculator

SBI Home Loans is the largest Mortgage Lender in India, which has helped over 30 lakh families to achieve the dream of owning a home. Being the largest home loan provider it has given different options to check your eligibility and also other loan process which are listed below
  • Home Loan EMI Calculator
  • Home Loan Takeover Calculator
  • Maxgain Home Loan Calculator
  • Flexipay Home Loan Calculator
  • Privilege/Shaurya Home Loan Calculator
Check the link to calculate the SBI Home Loan Eligibility.

 HDFC Home Loan Eligibility Calculator 

HDFC is one of the top private bank home loan provider and your eligibility is primarily dependant on income and repayment capacity. The calculator provided for various home loan purpose are
  • EMI Calculator
  • Length Conversion Calculator
  • Affordability Calculator
Check the link for HDFC Home Loan Eligibility Calculator.

What are the Ways to Improve your Eligibility of Getting Home Loan?

There are  number of ways you can improve your home loan eligibility. When your CIBIL score is high and you have a good credit worthiness, your home loan application will be easily sanctioned. The factors that improve your eligibility are listed below.
  • Adding an earning family member as co-applicant.
  • Availing a structured repayment plan.
  • Ensuring a steady income flow, regular savings and investments.
  • Furnishing details of your regular additional income sources.
  • Keeping a record of your variable salary components.
  • Taking actions to rectify errors (if any) in your credit score.
  • Repaying ongoing loans and short terms debts.

CIBIL Score for Availing Home Loan

The first major criteria a bank looks up on before processing your loan application is your CIBIL Score. The CIBIL Score is issued by  Credit Information Bureau of India Limited (CIBIL). CIBIL score is the numerical representation of your credit worthiness. It ranges between 300 and 900 with 300 being the lowest range and chances of loan approval is minimal with this score. A CIBIL score of 750 and above puts you in good credit worthiness zone and loans applied for are easily approved by bank.

Home Loan EMI Calculator

Many types of personal loans are provided by the financial institutions. Among which the procuring of the home loan is very high because of the rise in population and owning a house has become a necessity nowadays, for security as well as investment. Since the investment is high for construction or renovation of a house, it is necessary to get the support from the financial institutions which give a rise to the home loans. Because of the competition, many banks provide home loans with the EMI feature for feasibility of the person availing the loan. In order to calculate the home loan EMI, the Home Loan EMI Calculator helps the people to a greater extent.

How to use Home Loan EMI Calculator?

There are many home loan EMI Calculators available on the internet. Many banks have set up the home loan calculators on their respective websites. One can search the emi calculators in the google website. Follow the given steps to know the estimate of the monthly emi payment.
  • Visit google website and search for the home loan EMI calculator.
  • Choose any of the websites for calculation.
  • In the spaces provided for loan amount, rate of interest, number of monthly installments, enter their values respectively.
  • Click “Calculate” to know the EMI.

Home Loan Interest Rate

Every loan a person avails at the bank interest rates are one thing no one can avoid. The best thing to do is to choose the loan offered with lowest and reasonable interest rates. Home Loan Interest Rates range from 8.30% to 10.50% being the highest. But choosing the lowest doesn’t mean the right interest rate, there are other factors like processing fee, etc to check before going on with the process. More details on Interest Rates at Home Loan Interest Rates.

General Related News

Tomorrow Share Market Open or Not in India: Check Share Market Opening, Closing Time Here

256 days ago
Tomorrow Share Market Open or Not - One of the major questions among the new traders is whether Tomorrow Share Market Open or Not. Another major question comes on the special days ....

DRDO Recruitment 2021, 150 Vacancies Notified at drdo.gov.in Recruitment 2021 check eligibility details for DRDO GTRE Apprentice 2021 Recruitment

284 days ago
DRDO Recruitment 2021 Free Job alert for both Fresher and Experienced Candidates for January, 2021. Defence Research & Development Organization DRDO - Gas Turbine Research ....

Ileana DCruz answers for the question How to care for a girl during her Period

351 days ago
Ileana D'Cruz answered a query of a fan, in the most hilarious way possible, in her recent Instagram chat. Her reply to the tricky question caught the eyes of the girls!!!

CISF ASI Recruitment 2021 Apply for 690 CISF ASI Vacancies at www.cisf.gov.in, Qualification, Salary, Eligibility Criteria, Job Notification

380 days ago
CISF ASI Recruitment 2021 Central Industrial Security Force (CISF) has advertised for recruitment to the post of CISF Assistant Sub Inspectors through Limited Departmental Competitive ....

Centre moves to eliminate Lymphatic Filariasis

426 days ago
Dr. Harsh Vardhan, Union Minister for Health & Family Welfare inaugurated a one day National Symposium on 30 October. The theme of the symposium is United to Eliminate Lymphatic ....

Aadhar Card Update - How to Update/Correction Aadhaar Card Name, Address, DOB, Mobile Number Details Online at UIDAI

505 days ago
Aadhar Card Update or Update Aadhaar: Know detailed Aadhar Card Update Procedure about How to Update/Correction Aadhaar Card Name, Address, DOB, Mobile Number Details Online at ....

Sardar Patel Scholarship 2020 - Apply Online for Sardar Vallabhai Patel Scholarship 2020 for Student Pursuing Graduation

548 days ago
Sardar Patel Scholarship 2020 for Students Pursuing Graduation: Buddy4Study India Foundation’s Sardar Patel Scholarship 2020 for Student Pursuing Graduation should be applied ....

Aadhar Card Download: How to Download Aadhaar Card Online and Print out e-Aadhaar at UIDAI.gov.in

562 days ago
Aadhar Card Download - Step by Step Procedure to Download Aadhaar Card by Name, DOB, Entrollment Number, Mobile Number or Without Mobile Number at UIDAI Website. UIDAI is an easier ....

Check Aadhar Card Status Online at UIDAI, Enquiry Aadhar Card Update Status

566 days ago
Aadhar Card Status: Aadhaar Card Status reveals the position of your Aadhar Card application, Check Aadhar Card Update Status by Name, Phone Verification Online and any time after ....

Chandra Grahan 2020: Chandra Grahan Lunar Eclipse on June 5, Chandra Grahan Date, Timing in India

598 days ago
Chandra Grahan 2020: The second 2020 Chandra Grahan Lunar Eclipse is set to take place on June 05. The first lunar eclipse took place on 10th January earlier year. On 5th June ....

Trending News

Being The Ricardos Movie Release Date and Time 2021, Countdown, Cast, Trailer, and More!

53 days ago
Being The Ricardos Movie Release Date and Time 2021 is highly anticipated by fans and curiously waiting to know When Will The 2021 Being The Ricardos Release? Here we have updated ....

Bigg Boss 5 Telugu Online Voting Results Today 8th Week Check Live Bigg Boss Telugu 5 Online Voting Results Here

89 days ago
Bigg Boss 5 Telugu Online Voting Results Today 26th October 2021: Get the latest updates on Bigg Boss Telugu Season 5 Vote Online and the list of contestants nominated for week ....

Update All Star Tower Defense Codes Wiki 2021 Check the Active Star Tower Defense Codes October 2021

89 days ago
Update All Star Tower Defense Codes Wiki 2021: Get the latest Update All Star Tower Defense Codes Wiki 2021 to get more gems, rare characters and much more. Players can redeem ....

afilmywap 2021 - Illegal afilmywap Hindi HD Movies Download Website, Latest Hollywood, HD MP4 Movies, Today afilmywap Movies Updated News

163 days ago
afilmywap 2021: afilmywap is a piracy website to download Indian Movies HD, Hindi Movies, afilmywap Telugu Tamil online illegally for Free to its users. afilmywap website allows ....

City of Stars/May Finally Come True Lyrics - Justin Hurwitz City of Stars/May Finally Come True Song Lyrics

174 days ago
City of Stars/May Finally Come True Lyrics: You can get the City of Stars/May Finally Come True Song Lyrics “City of stars Are you shining just for me?” by Justin ....

City of Stars/May Finally Come True Lyrics - Ryan Gosling City of Stars/May Finally Come True Song Lyrics

174 days ago
City of Stars/May Finally Come True Lyrics: You can get the City of Stars/May Finally Come True Song Lyrics “City of stars Are you shining just for me?” by Ryan Gosling ....

Free Fire Redeem Code Today: Garena FF Redeem Code Today New 18 June 2021

219 days ago
Free Fire Redeem Code Today 18th June 2021: Get the latest Free Fire Redeem Code, working FF Redeem Code Today 18th June 2021 on our page. The Free Fire Redeem Code can be used ....

Even When/The Best Part Lyrics - Olivia Rodrigo and Joshua Bassett

223 days ago
Even When/The Best Part Lyrics: You can get the Even When/The Best Part Song Lyrics “I think of you when the wind blows Every night, I've been countin' the days” ....

When is Fathers Day In 2021? History of Fathers Day!

233 days ago
When Is Fathers Day in 2021: Here we tell you what you need to know about When Is Fathers Day in 2021, What is Father's Day 2021, Father's Day 2021 Date, Father's Day ....

TN epass Registration: How to Apply for Covid 19 TN EPass for lockdown Coimbatore @ tnepass.tnega.org?

251 days ago
Tamil Nadu COVID-19 TN ePass for lockdown Coimbatore TN epass Registration: How to Apply epass tn for lockdown coimbatore @ tnepass.tnega.org?. TN epass Interdistrict Travel Pass ....
FreshersLive - No.1 Job site in India. Here you can find latest 2022 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail...
DMCA.com Protection Status