How much home loan can i afford

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How much home loan can I get on my salary?

Most banks/ lenders decide the loan amount up to 60 times one’s monthly salary. So, if you earn your monthly salary is Rs 25,000, you can get a loan amount of Rs 15 lakh approximately. For example, Rohan earns a monthly salary of Rs 25,000. He can get a loan of up to approx.

How much house loan can I get on 60000 salary?

60,000, and after excluding medical allowance, LTA, etc., it goes down to Rs. 49,000. It is upon this amount; will your home loan amount be calculated.

How much home loan can I get on my salary?
Net monthly income Home loan amount
Rs.50,000 Rs. 41,70,657
Rs. 60,000 Rs. 50,04,788
Rs. 70,000 Rs. 58,38,919

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How much loan can I get on 35000 salary?

“How much home loan can I get on my salary?” If you are a salaried employee and you plan to own a house, this is the first question that pops up in your mind.

How Much Home Loan Can I Get?
Net Monthly Income (₹) Loan Amount (₹)
₹ 30,000 ₹ 17,09,806
₹ 35,000 ₹ 20,46,586
₹ 40,000 ₹ 23,83,366
₹ 50,000 ₹ 30,56,926

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How much home loan can I get on 25000 salary?

25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs.

Home loan eligibility based on salary.
Age Net monthly income (in Rs.)
25,000 – 50,000 75,000
25 Years 18.64 lakh – 37.28 lakh 55.93 lakh
30 Years 18.64 lakh – 37.28 lakh 55.93 lakh
35 Years 18.64 lakh – 37.28 lakh 55.93 lakh

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How much home loan can I get on $80000 salary?

For instance, if your net salary is Rs. 55,000, you will be eligible for a loan of approximately Rs 33 lakhs.

How to calculate your home loan eligibility?
Net Monthly Income (Rs.) Home Loan Amount (Rs.)
50,000 38,04,983
60,000 46,43,370
70,000 54,81,756
80,000 63,20,142

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How much home loan can I get on $65000 salary?

SBI Home Loan Eligibility Based on Salary
Monthly Income Loan Amount
Rs. 50,000 Rs.33,99,059
Rs. 55,000 Rs.41,54,405
Rs. 60,000 Rs.45,32,079
Rs. 65,000 Rs.49,09,752

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How much loan can I get on 55000 salary?

If your monthly income is Rs. 55,000 net, your Home Loan EMI can be a maximum of Rs. 22,500, as per the 50% rule. Assuming, you take the Home Loan for a period of 20 years, as is the usual benchmark, at the rate of 10% per annum, a loan amount of Rs.

How much home loan can I get on 40000 salary SBI?

Salary / Income per Month
Salary / Income per Month SBI Home Loan Eligibility HDFC Home Loan Eligibility
25000 1400000 1350000
30000 1700000 1600000
35000 2000000 1900000
40000 2300000 2200000

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How much loan can I get on 40000 salary?

How much personal loan can I get on a ₹40000 salary? According to the Multiplier method, on a salary of ₹40000, you will be eligible for ₹13.50 lakhs for 5 years. Going by the Fixed Obligation Income Ratio method, if you have monthly EMIs of ₹3000, you will be eligible for an amount of ₹8.80 lakhs.

How much house loan can I get on 30000 salary?

For e.g. If a person is 30 years old and has a gross monthly salary of Rs. 30,000, he can avail a loan of Rs. 20.49 lakh at an interest rate of 6.90% for a tenure of 30 years provided he has no other existing financial obligations such as a personal loan or car loan etc.

Is it wise to take home loan?

Experts believe that even if you have the sums to purchase the property in one go, it is better to take a home loan. Instead of spending a lump sum amount on the property, it is better to go for a large amount down-payment and pay off the remaining amount in higher amount, monthly EMIs, since you can afford it.

How much home loan can I get on 16000 salary?

The maximum loan amount may range between 8 to 10 times your monthly income. Henceforth, you may become eligible for a maximum loan amount of Rs. 1,60,000 which can be repaid in a tenure that is comfortable to you. In case you are looking for a loan at better terms, you may check your eligibility here.

How much loan can I get on 24000 salary?

Illustration- Mr A who is 25 years old has a net income of ₹ 24,000. He wants to take a personal loan of ₹ 1 Lakh for 72 months. SBI allows a maximum FOIR of 0.45. Based on the information provided by the applicant the maximum amount he is eligible for is ₹ 5.89 Lakh.

How much home loan can I get on 40000 salary Quora?

If 40k is your net take home salary after income tax and pf deductions etc. first thing you are supposed to do is save/invest 30% after which you will be left with 28000. Your housing loan EMI will be Rs. 12000 at a minimum per month.

How much home loan can I get on 60000 salary Quora?

Normally banks offer upto 60-70% of your monthly salary. If your salary is Rs. 60000/- then you can get around Rs. 36-42 lakhs as loan from bank.

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