Home Affordability Calculator
This calculator starts from what you earn, not from a price you like, and works out the home you can realistically finance.
Results
Home price you can afford
₹81,25,773
- Maximum home loan
- ₹66,25,773
- Maximum new EMI
- ₹57,500
- Down payment as a share of the price
- 18.5%
- EMI on the maximum loan
- ₹57,500
With ₹57,500 a month available for a new EMI you can borrow about ₹66,25,773. Adding your down payment of ₹15,00,000 gives a home budget of about ₹81,25,773.
Show the calculation steps
- EMI capacity = income × 45% = ₹67,500; minus existing EMIs ₹10,000 leaves ₹57,500.
- Loan = EMI × (1 − (1 + r)^−n) ÷ r with r = 0.7083% and n = 240 → ₹66,25,773.
- Home budget = loan + down payment = ₹66,25,773 + ₹15,00,000 = ₹81,25,773. The down payment is 18.5% of that price.
- Keep money aside for stamp duty, registration, moving and furnishing, which are usually not covered by the loan. Lenders may also cap the loan as a share of the property value.
How the budget is worked out
Lenders limit the share of your income that can go to EMIs. Subtracting your existing EMIs leaves the largest new EMI you can carry. That EMI is converted into a loan using the interest rate and tenure, and your down payment is added to give a home budget.
Keep a margin
The maximum is what a lender may allow, not necessarily what is comfortable. Leave room for stamp duty, registration, interiors, maintenance and changes in interest rates. Many buyers aim to borrow less than the maximum.
Formula
Room for EMI = Income × share allowed − existing EMIs
Loan = EMI × (1 − (1 + r)^−n) ÷ r
Home price = Loan + Down payment
Where:
- r
- = Monthly interest rate
- n
- = Number of monthly payments
Example calculation
₹1,50,000 income, ₹10,000 existing EMIs, 8.5% for 20 years, ₹15 lakh down payment
Inputs
- Net Monthly Household Income
- ₹1,50,000
- Existing Monthly EMIs
- ₹10,000
- Share of Income for EMIs
- 45 %
- Home Loan Rate
- 8.5 %
- Loan Tenure
- 20 years
- Down Payment You Have
- ₹15,00,000
Result
- Home price you can afford
- ₹81,25,773
- Maximum home loan
- ₹66,25,773
- Maximum new EMI
- ₹57,500
- Down payment as a share of the price
- 18.5%
- EMI on the maximum loan
- ₹57,500
Step-by-step
- EMI capacity = income × 45% = ₹67,500; minus existing EMIs ₹10,000 leaves ₹57,500.
- Loan = EMI × (1 − (1 + r)^−n) ÷ r with r = 0.7083% and n = 240 → ₹66,25,773.
- Home budget = loan + down payment = ₹66,25,773 + ₹15,00,000 = ₹81,25,773. The down payment is 18.5% of that price.
Important notes
- Lenders also cap the loan as a share of the property value and consider credit score and age.
Disclaimer: This calculator provides estimates for informational purposes and should not be considered financial advice. Actual figures from lenders, banks and investment products can differ because of fees, taxes, rounding rules and changing rates. Consult a qualified professional before making financial decisions.
Frequently asked questions
How much house can I afford?
Enough that your total EMIs stay within about 40–50% of income, after keeping your existing EMIs and living costs in mind.
Does a bigger down payment help?
Yes. It raises your budget rupee for rupee and reduces the loan and EMI.
What other costs should I plan for?
Stamp duty, registration, brokerage, interiors, maintenance and insurance.
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