Home Affordability Calculator India — Maximum House Budget 2026

Last updated: 29 April 2026 Reviewed by Arjun Mehta, CA

**Home affordability** depends on your income, savings for the down payment (minimum 10–20%), existing EMI obligations, and loan eligibility. The general rule: total EMI (including home loan) should not exceed 40–50% of net take-home pay. This calculator computes the maximum home price you can buy today based on your complete financial profile.

Net Monthly Income (₹)

Existing Monthly EMIs (₹)

Available Down Payment (₹)

Home Loan Interest Rate (% p.a.)

Loan Tenure (Years)

Maximum EMI Capacity —

Maximum Loan Amount —

Maximum Property Price (Loan + Down Payment) —

Estimated Monthly Cost —

View Year-by-Year Breakdown

Real-World Examples — 2026

₹1 lakh net income — how much home can I afford?

Net income ₹1 lakh, existing EMIs ₹15,000, available down payment ₹15 lakh. Max new EMI (40% FOIR): ₹25,000. Loan at 8.5% for 20 years: ₹23.87 lakh. Plus ₹15 lakh down payment = ₹38.87 lakh property. In Mumbai, this buys a 1BHK in suburban areas.

Impact of income increase on affordability

Same person gets a 20% raise (new income ₹1.2 lakh). Max new EMI rises to ₹33,000. Max loan: ₹31.5 lakh. With ₹15 lakh down payment: ₹46.5 lakh property. A 20% income increase translates to ~20% higher affordability.

Frequently Asked Questions

How much home loan can I get in India?

Banks typically lend 75–80% of property value (loan-to-value ratio). Maximum EMI = 40–50% of net monthly income minus existing EMIs (FOIR norms). Example: ₹1 lakh net income, existing EMIs ₹15,000, max new EMI = ₹35,000. At 8.5% for 20 years, max loan = approximately ₹33.4 lakh.

How much of my income should go to home EMI?

Financial advisors recommend EMI not exceeding 30–35% of gross income (or 40% of net take-home). Higher EMI commitment limits your ability to build an emergency fund, invest for retirement, and handle income disruptions. Don't stretch beyond 40% FOIR even if the bank approves.

What is the ideal down payment percentage for a home?

RBI mandates banks lend minimum 10–25% of property value (maximum LTV 75–80%). Make the largest down payment you can without depleting emergency fund. Down payment of 25–30% reduces loan EMI, total interest, and avoids PMI. Use accumulated savings, EPF withdrawal (after 5 years), and gifts.

Is this calculator free?

Yes, completely free on CalcPhi.

Are my inputs stored?

No. Calculations run in your browser.

Is it mobile-friendly?

Yes. Works on all modern smartphones.