#house loan calculator
Home Loan Eligibility
Buying a house of your own is no more a tough task as home loan allows you to borrow a lump sum amount and purchase your home without affecting your financial stability. The loan can be availed at fixed or floating rate.
Home Loan eligibility
Before availing a home loan, check the eligibility criteria as it may vary from one lending institution to the other, but there are some common requirements:
- Any salaried, self-employed or business person with Indian nationality can apply for a home loan You must be aged 21 years or above You should have a regular source of income for timely repayment of the loan Your professional stability and savings history will help in quick loan approval Ensure that you do not have bad credit history for at least the three months prior to applying for a home loan. If you are a salaried professionals, about 40% of your monthly gross income can be availed as loan amount. For self-employed individuals, profit earned by you majorly determines the loan value you are eligible for.
Home Loan Eligibility Calculator
With home loan eligibility calculator, you can know the amount of loan you are eligible for on the basis of your monthly income, existing EMI, rate of interest and loan tenure. You can check the loan calculator at paisabazaar.com and know the amount you can get from the lending institution or the bank. Rest, the final amount is also influenced by your credit score.
SBI Home Loan Eligibility
The State Bank of India offers different housing loan schemes such as SBI MaxGain Home Loan, SBI Yuva Home Loan, SBI realty, SBI NRI home loan, SBI PAL, Her Ghar home loan and many more