Here's how banks calculate home loan eligibility

Re: Good Article by Anil Gupta on Jul 15, 2011 05:41 PM Thanks :)    Forward   |   Report abuse
Re: Re: Good Article by prasoon p on Jul 16, 2011 09:39 AM Excellent article explained in simple terma...    Forward   |   Report abuse

Re: Personal and Car loan by Abhishek Rajput on Jul 15, 2011 04:49 PM Hi Chethan, Roughly your eligibilty will be 40 times your monthly income after deduction of all the exising loan's EMI. you can calculate the EMI either in an Excle Sheet templet or just put 1.08 times the loan value & divide by 100    Forward   |   Report abuse
Re: Personal and Car loan by Anil Gupta on Jul 15, 2011 05:43 PM Your maximum eligibilty would be 60-15 i.e. 45000*60 = 27 Lakhs. Deduct any other amounts as mentioned in above article. It depends on specific bank also that how much do they multiply the net income with. Most of the banks do it with a factor of 60.    Forward   |   Report abuse
Re: Re: Personal and Car loan by Venkatesh on Jul 16, 2011 12:50 AM some psu follow another method. the ratio of emi(s) and net take home pay sh not exceed 50 or 60 percent, depending upon the pay band.    Forward   |   Report abuse

Re: Good Article by Anil Gupta on Jul 15, 2011 05:43 PM Thanks :)    Forward   |   Report abuse

Re: your age also? by Anil Gupta on Jul 15, 2011 05:44 PM That could be one of the factor while taking up home loan as teh rapyment tenure is generally long in that case. For all other loans, the main factor is your income.    Forward   |   Report abuse

Re: Good one. by Anil Gupta on Jul 15, 2011 05:45 PM Thanks :)    Forward   |   Report abuse

Re: nice article by Anil Gupta on Jul 15, 2011 05:45 PM Thanks Phani :)    Forward   |   Report abuse
Re: nice article by INDIAN on Jul 15, 2011 03:50 PM Yes, even this is even though a very basic article, but provided good information.    Forward   |   Report abuse