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Home Loan Eligibility Calculator

Want to know if you are eligible for a home loan or not? Check now with this online home loan eligibility calculator in less than 5 seconds. Enter the required loan amount, loan duration in years, amount of other EMIs, and rate of interest.
Your loan eligibility depends on factors like your monthly income, your age, your credit history (CIBIL), and your monthly fixed financial expenses.


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What is Home Loan Eligibility?

Home Loan Eligibility refers to the criteria Housing Finance Companies consider when assessing an individual's suitability for a home loan. Factors such as income, credit score, employment history, and existing debts play a crucial role. Understanding and meeting these requirements are vital steps towards securing a home loan and realizing your homeownership goals.

Aavas Home Loan Eligibility Calculator:

  1. Utilize Aavas's calculator for a quick assessment.
  2. Required details: Monthly Gross Income, Loan Tenure, Interest Rate, and Other Monthly EMIs.
  3. Click "Submit" for instant home loan eligibility results.

Applying for a Home Loan:

  1. After using the Aavas Home Loan Eligibility Calculator, take the next step by applying for a home loan.
  2. Check monthly EMI using the efficient home loan EMI calculator.

Home Loan Eligibility for Salaried Person or Self Employed

  • Nationality: Resident of India.
  • Maximum Loan Tenure: Up to 30 years.
  • Employment: Open to both Salaried and Self-employed individuals.
  • Work Experience: A minimum of 1 year of work experience is required for eligibility.

If you meet the above criteria, you are most likely to be eligible to apply for a home loan with Aavas. Our flexible terms and inclusive eligibility make the dream of homeownership within your reach. Explore the possibilities and take a step closer to owning your dream home.

Conclusion on Home Loan Eligibility

Navigating the landscape of home loan eligibility is a pivotal step in realizing the dream of homeownership. With stringent yet fair criteria, institutions like Aavas empower individuals to turn aspirations into reality. From assessing factors such as income, age, and credit history to utilizing user-friendly eligibility calculators, the process has become more accessible than ever. Aspiring homeowners, armed with knowledge and understanding, can confidently embark on their journey towards securing a home loan, unlocking the doors to a future filled with the comfort and joy of home ownership.

How Aavas Home Loan Eligibility Calculator Works?

Aavas eligibility calculator supports checking the eligibility of a person for availing a home loan by using the following details:

  1. Monthly Gross Income (In ₹)
  2. Loan Tenure (Loan term)
  3. Interest Rate (Housing loan interest rate, Click here to know Aavas’s Prevailing Interest Rates)
  4. Other Monthly EMIs (EMIs paying for other outstanding loans)

After entering these details, click on the Submit button to know your home loan eligibility.

Aavas Criteria for Home Loan Eligibility

  • For availing loans, the applicants need to be residents of India
  • The primary factor that holds maximum importance in determining housing loan eligibility is the age of the applicant. Therefore, the decided age limit for both self-employed individuals and salaried employees is 21 years to 65 years.
  • In the case of a business, the minimum documented income needs to be ₹1 lacs p.a.
  • Maximum Home Loan Term is upto 30 years
  • Need to have a clean and good repayment record: Good Credit Score & Credit History
  • Capable to meet other financial obligations such as credit card payments, vehicle loans, etc.

What are the Ways to Improve your Home Loan Eligibility?

If you are willing to take a home loan, you can make use of the following ways to improve your home loan eligibility

  • Add a co-applicant (an earning member of the family) for a joint loan.
  • Make sure you have regular investments and savings, and a continuous income flow
  • Rectify any existing errors in credit score to improve it
  • Keep a clear record of all the variable components of the salary
  • Make timely payments for all the existing EMIs and credit card dues

Once you have checked the eligibility for a home loan by using the Aavas home loan eligibility calculator, it is time to move a step ahead towards building your dream house by applying for a home loan. However, before that, it is good to check the monthly EMI too by using the efficient home loan EMI calculator.

How to check home loan eligibility?

People can easily check home loan eligibility online using the free home loan eligibility calculator. The eligibility criteria are set based on certain factors like the age, credit score, and financial obligations of the borrower. The reason for calculating the eligibility for home loan of the borrowers is to assess their creditworthiness and repayment history, and then decide whether they are eligible for taking a home loan or not. If they meet the requirements of housing loan eligibility, then the chances of loan approval increases.

Home Loan Eligibility Calculator FAQs

How much home loan you can get or how much loan you are eligible for depends on a few key factors. The main factor is earning and repayment capability. Other factors that affect your home loan eligibility are - age, the credit history (CIBIL), it's like how you have paid up your previous loans be it vehicle loan, education loan, or personal loan.

Open the home loan eligibility calculator:
Step 1)Fill in the necessary details
Step 2)An amount will appear after successfully entering all the details.
Step 3) You are eligible to have a home loan of this much amount.

To check home loan eligibility the two factors that play a vital role are age and the number of working years of the loan seeker..

The Main Nine Factors are:

  1. Age of the applicant: Applicant present age and remaining working years are crucial. The younger you are the more are your chances of getting more loan. The age of the applicant is one of the key factors when it comes to home loan eligibility. As the maximum loan term is generally 30 years so if you are in your 20s then you can more loan on the same income than what you will get in your 30s with the same income.
  2. Age Limit for Salaried Individuals: 21 to 65 years. Though it may vary from institution to institution in some cases.
  3. Age Limit for Self-Employed Individuals: 21 to 65 years.
  4. Maximum Loan Term: 30 years.
  5. Financial Position: A bank / HFCs will check your present financial like are you paying any other loan or are you already in debts. Also, the present as well future income of applicant go a long way when it comes to determining the final loan amount.
  6. Past and Present Credit History and Credit Score: If you have cleared all your previous loans irrespective of big or small loans, then you are more eligible for the loan. But you struggle to pay your other loan EMIs then it will be very difficult to get the required loan. it is the simple bank / HFCs that wants to land its money to someone who can pay easily.
  7. Other on-going loans: If you already have loans like a car loan, or high credit card dues then it will get less home loan. For instance when I applied for 20 lac loan home loan then I was having one more car loan. As a result, the bank / HFCs said that I cannot get 20 lac then I cleared my 1.20 lac car loan and then I became eligible for a 20 lac home loan.

It is simple if you want a high amount of home loan then clear all your existing small loans. And have a high CIBIL score. Let me put it this way - To improve home loan eligibility clear your existing loans, don’t be a defaulter in payment of your existing loan amount, increase your CIBIL score and have a good source of income for repayment of your loan.

Ratings and Reviews

Ved Pratap

This is a very good company for home loans with low ROI, with respect to other NBFCs in the private sector.

Kapil Agrawal

We are happy for being a part of Aavas Financers as a customer...
Very helpful and friendly!

Praveen Verma

Best experience with Aavas Financiers. We applied for a loan from there. They provided the best deal with the best ROI. Thanks Aavas and team.