So you’ve decided to buy a home and started to hunt for properties as well as home loan schemes. With so many offers in the market, it’s hard to know which one would be the best for you. Low interest rates, long tenures and other such offers are offered dime a dozen, but before any of that you need to know your home loan amount eligibility. This eligibility is decided based on your monthly income amount, tenure of the loan and the rate of interest that you will be charged. While all lenders will check your eligibility and let you know the amount, knowing the amount beforehand helps you plan things far better. Indiabulls Home Loans recognizes that the best decision is an informed decision.
Keeping that in mind, the Home Loan Eligibility Calculator has been created to help you determine your eligibility without wracking your head or making unnecessary decisions without knowing what you are getting into. To use the calculator, simply fill in details like your monthly income, your loan tenure and the interest you will be charged. The loan amount that you are eligible for, based on the details provided by you, will appear at the bottom of the page.
You can choose to alter the options to check which scenario suits you best. Once you have decided what suits you best, you can go ahead and get a self-approval for your loan. Always choose an amount which you are financially comfortable with as paying it back shouldn’t place an undue burden on you and your family. Settling for a longer loan tenure may allow you to be eligible for a larger loan amount, but will also increase the total amount you repay in interest.
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