How much home can you afford?
This calculator shows what a bank will lend you and what you can repay without strain. Enter your monthly take-home income and any EMIs you already pay. It shows the loan you could get, its EMI, and the home price you could buy once you add a down payment. Banks usually let your EMIs take up to 50% of take-home pay. That leaves little for everything else, so 40% is a safer limit. Try both and compare the loan amounts. Change the rate and tenure to see how the answer moves. Nothing you type leaves your browser. The table below gives a quick view by salary.
- ₹39,974
- Principal amount
- ₹50,00,000
- Total interest
- ₹45,93,875
- Total amount
- ₹95,93,875
You'll pay ₹45.94 L interest on a ₹50 L loan.
Runs in your browser. No login, and we don't store your numbers.
You could borrow up to
₹62.54 L
Banks usually cap all EMIs at about half your take-home pay.
What if…
One prepayment or a 0.5% rate change can move your interest by lakhs. Try one.
· Add a one-time payment or an extra monthly amount to see the saving.
Worth knowing
For every ₹1 you borrow, you pay back ₹0.92 in interest.
In year 12, more of your EMI starts going to the loan than to interest.
Pay one extra EMI a year and you save ₹7.8 L and finish 3 years early.
Banks use the standard reducing-balance formula:
EMI = P × r × (1+r)n / ((1+r)n − 1)
P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months.
With your numbers
- P = ₹50,00,000
- r = 7.4% ÷ 12 ÷ 100 = 0.006167
- n = 240 months
- EMI = ₹39,974
Each month interest is charged on what you still owe. That is why early EMIs are mostly interest.
Share this calculation
| Monthly pay | Bank limit (50% of pay) | Comfortable (40% of pay) |
|---|---|---|
| ₹30,000 | ₹18.76 L | ₹15.01 L |
| ₹50,000 | ₹31.27 L | ₹25.02 L |
| ₹75,000 | ₹46.9 L | ₹37.52 L |
| ₹1,00,000 | ₹62.54 L | ₹50.03 L |
| ₹1,50,000 | ₹93.81 L | ₹75.05 L |
| ₹2,00,000 | ₹1.25 Cr | ₹1 Cr |
Common questions
- How much home loan can I afford?
- A safe EMI is about 40% of your take-home pay, minus any EMIs you already pay. Use the calculator above to turn that EMI into a loan amount.
- Does my down payment count?
- Yes. Your home budget is the loan you can get plus the down payment you can pay. Banks usually fund 75% to 90% of the price, depending on the loan size.
- Why not borrow the bank maximum?
- Banks check your income, but they don't see your living costs. Borrowing the maximum leaves little room for a rate rise or a gap between jobs.
- Do other EMIs reduce my loan?
- Yes. Car loans, personal loans and even credit card minimums reduce the EMI a bank will allow for your home loan.