Our Home Affordability Calculator helps you determine how much house you can afford based on your income, expenses, and financial situation.

How is home affordability calculated?

The calculator uses several factors to determine affordability:

• Income: Your annual income determines your repayment capacity
• Expenses: Your monthly expenses affect how much you can allocate to EMI
• Debt-to-Income Ratio: Banks typically prefer this to be below 40-50%
• Down Payment: A larger down payment increases your affordability
• Loan Terms: Longer loan terms reduce EMI but increase total interest

Tips for First-Time Home Buyers in India

• Aim for a down payment of at least 20% of the property value
• Factor in additional costs like stamp duty, registration, GST, and maintenance
• Keep your EMI to monthly income ratio below 40%
• Check RERA registration for under-construction properties
• Consider location factors like connectivity, amenities, and future development
• Compare home loan offers from multiple banks