What is home loan eligibility calculator?
At Reliance Home Finance, be rest assured that you will be well assisted to know if you are eligible for a home loan, if not, we will also assist you on how to bump up your eligibility.
An eligibility calculator is a tool that helps you check your credibility to buy a home loan. It asks you your home loan eligibility criteria and few more questions to automatically calculate your eligibility.
How is the Home Loan Eligibility Calculated?
The eligibility for a home loan is evaluated based on the following -
How to use the housing loan eligibility calculator?
Calculate your home loan eligibility with this simple home loan eligibility calculator. It will help you to calculate the amount of housing loan that you are eligible for, based on the home loan tenure and home loan interest.
We have two types of calculators based on your profile – 1. Home loan eligibility for salaried person and 2. Home loan eligibility for a self employed.
Your eligibility for a housing loan is primarily dependant on your income and repayment capacity. Our home loan eligibility calculator takes this information as a first step of your application.
There are also some other factors are fetched from your house loan eligibility calculator – Your age, financial position, credit history, credit score, other financial liabilities etc.
Here’s how to make use of our automatic – home loan eligibility calculator –
- Step 1 – Select your profile as a self employed or salaried.
- Step 2 – a. If you’re a self employed, please feed in your – Net profit, other incomes, obligations, rate of interest you are looking for and tenure you are looking for, both for the current year and last year respectively. b. If you are a salaried individual, enter your loan amount, gross monthly salary, net monthly salary, obligations, rate of interest you are looking for, tenure you’re looking for, add a co-applicant to bump up your eligibility.
- Step 3 – After filling these details, hit ‘calculate’ and your loan eligibility will appear on the right hand side.
How to enhance your home loan eligibility –
- Adding an earning family member as co-applicant.
- Showing a steady income flow, regular savings and investments.
- Furnishing details of your regular additional income sources.
- Keeping a record of your variable salary components. Clearing your on-going loans and EMIs.
Why calculate home loan eligibility with Reliance Home Finance?
- Our home loan EMI eligibility calculator gives an accurate estimate of your loan amount you can get sanctioned from us.
- We have provided simple steps to use our eligibility calculator for home loan that fits best as per your requirement.
- We help get your home loan sanctioned even if you haven’t identified the property yet, all you have to do is put the necessary details of your income in the online home loan eligibility calculator and check your EMI based on your input.