How Much Home Can I Afford? Property Affordability Calculator
Two things cap the home you can buy: the EMI your income supports, and the cash you have for the down payment and stamp duty. Enter both, and the calculator shows the highest price that passes both tests and which one is holding you back.
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Calculator and results
You could afford a home of about ₹76,92,307, with a loan of ₹61,53,845 and ₹20,00,000 from savings at 7.25% over 20 years. Your savings are the limit: RBI caps the loan at 80% of the value for a loan of this size, so the down payment plus stamp duty and registration use up your ₹20,00,000.
Add a co-borrower's income if you will apply together.
Car, personal and other loan EMIs you will keep paying.
An assumption about lender policy, not a rule. Lenders set their own limit by income and credit profile; enter your lender's figure if you know it.
Default: Bank of Maharashtra's published starting rate, the lowest among banks we track (checked 2026-10-21). Starting rates usually need a top credit score.
Keep your emergency fund out of this figure.
A placeholder. Enter your state's rate; the stamp duty calculator can work it out.
Highest property price
₹76,92,307
limited by savings (RBI LTV cap)
Highest EMI
₹75,000
after existing EMIs
Highest loan
₹94,89,155
20 years at 7.25%
Loan at that price
₹61,53,845
80% of price, cap 80%
Down payment
₹15,38,462
from savings
Stamp duty and registration
₹4,61,538
6% of price
Which limit binds
Income alone would allow a price of up to ₹1,08,38,825. Savings, with RBI's loan-to-value cap, allow up to ₹76,92,308. The lower of the two is your answer.
To afford more, add to your savings; more income alone will not raise the price.
Default rate from Bank of Maharashtra's rate page, checked 2026-10-21.
How the price is paid
- Home loan
- 80%
- ₹61,53,845
- Down payment
- 20%
- ₹15,38,462
Saved scenarios stay in this browser only. No sign-up.
Highest property price
₹76,92,307
- What it is:
- A calculator for the highest home price your income and savings can support in India.
- What it calculates:
- The EMI budget, the largest home loan it supports, the highest property price within RBI loan-to-value limits, and which limit binds.
Key Assumptions
- The lender's share of income for EMIs is the figure you enter; lenders decide it case by case.
- The rate stays the same for the whole tenure.
- Stamp duty and registration are a flat percentage of the price and are paid from savings.
- Your savings are spent in full on the purchase; keep an emergency fund outside this figure.
- Brokerage, legal fees, GST on under-construction homes, interiors and loan processing fees are not included.
How does the Property Affordability Calculator work?
Lenders let only part of your monthly income go to EMIs, existing ones included. The 50% default is an assumption about lender policy, not a rule: lenders set their own limits by income, employer and credit score. Your existing EMIs are taken out of that budget, and what is left is the most the new home loan's EMI can be.
That EMI is turned into the largest loan it can repay at the rate and tenure you enter, using the standard EMI formula.
Your savings must cover the down payment plus stamp duty and registration, since a home loan does not usually fund those charges. RBI caps the loan at 90% of the property value for loans up to ₹30 lakh, 80% above ₹30 lakh up to ₹75 lakh, and 75% above ₹75 lakh, so savings also limit the price through the minimum down payment.
The calculator finds the highest price that passes both the income test and the savings test, and tells you which one binds. If income binds, a longer tenure, a co-borrower or closing an existing loan helps; if savings bind, more cash does.
Property Affordability Calculator formula
EMI = I x f - E; L = EMI x [(1 + i)^n - 1] / [i x (1 + i)^n]; Price = min[(L + S) / (1 + s), highest P with (P(1 + s) - S) <= LTV x P]
- I
- = monthly income
- f
- = share of income the lender allows for EMIs
- E
- = existing EMIs
- i
- = monthly interest rate = annual rate / 12 / 100
- n
- = tenure in months
- S
- = savings for down payment and charges
- s
- = stamp duty and registration, as a share of the price
- LTV
- = RBI loan-to-value ceiling for the loan's size
The loan used at the highest price is P x (1 + s) - S, never more than L.
Property Affordability Calculator: worked example
₹1,50,000 a month take-home, ₹10,000 existing EMIs, ₹20,00,000 saved
- EMI budget (50% of income, less existing EMIs)
- ₹65,000
- Highest loan (8.5%, 20 years)
- ₹74,90,005
- Price income allows
- ₹89,52,835
- Price savings allow (RBI LTV cap)
- ₹76,92,308
- Highest property price
- ₹76,92,307
- Limited by
- Savings
- Stamp duty and registration (6%)
- ₹4,61,538
Property Affordability Calculator: frequently asked questions
How much home loan can I get on my salary?
Why is my affordable price lower than income alone suggests?
Which interest rate should I use?
Does a longer tenure let me afford more?
Should I borrow the maximum I am eligible for?
Further reading
How Indian lenders work out your monthly instalment, why the interest portion shrinks every month, and what actually changes the number.
What a lump-sum prepayment does to an Indian loan, the choice between cutting the tenure and cutting the EMI, and when it is worth doing at all.
Authoritative Sources
- Reserve Bank of India: regulations on housing loans· verified 21 October 2026
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Reviewed by Pradipta Ray, MBA (Finance) · Updated