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Home Loan Starting 6.65%*


Home Loan Eligibility and Documents

Housing Loan Eligibility Criteria

Potential borrowers must meet certain home loan eligibility criteria before applying for a home loan to experience hassle-free loan processing. The criteria laid down include parameters related to age, income, employment status and stability, and property value.

Both self-employed and salaried individuals can avail of credits against separate sets of home loan eligibility requirements. Bajaj Housing Finance keeps home loan eligibility criteria simple to improve the loan’s accessibility to borrowers. Check home loan eligibility for both salaried and self-employed individuals below and apply as per your profile.

Check home loan eligibility for both salaried and self-employed individuals below and apply as per your profile.

 Home Loan Eligibility Criteria for Salaried Individuals

Bajaj Housing Finance housing loan eligibility requirements for salaried individuals include:

  • The applicant must be employed with a stable source of salaried income
  • He/she must have minimum 3 years of work experience
  • He/she must be a residing Indian citizen
  • He/she must be between 23 and 62 years of age

Note that the home loan eligibility requirements are indicative and can include additional criteria. Terms and conditions applied.

Home Loan Eligibility Criteria for Self-Employed Individuals

Bajaj Housing Finance housing loan eligibility requirements for self-employed individuals include:

  • The applicant must be self-employed with a business continuity of over 5 years with the current enterprise
  • He/she must be a residing citizen of India
  • He/she must be between 25 and 70 years of age

Note that the eligibility criteria mentioned are indicative only. Borrowers may be asked to fulfil additional requirements. Terms and Conditions apply.

Documents Required for a Home Loan

Apply with the following set of home loan documents* to avail yourself of funds from Bajaj Housing Finance. The documents required for a home loan are kept to a minimum to reduce the processing time.

  • KYC documents (documents that serve as proofs of your identity and address)
  • Proof of Income (differs based on the applicant’s profile; includes latest salary slips or Form 16 for salaried applicants and P&L statement and TR documents for self-employed individuals
  • Passport-sized photographs
  • Proof of business existence with a vintage of not less than 5 years (for self-employed applicants only)
  • Account statements for the last 6 months

*The list of documents required for a home loan is indicative. Borrowers may need to provide additional documents to back their home loan eligibility. Terms and Conditions apply.

All applicants must also provide a set of property documents required for a home loan, such as the allotment letter, sale agreement, and receipts of payments made to the agent or developer. You can also use the Bajaj Housing Finance home loan EMI calculator to figure out a suitable loan amount and the instalments payable before applying for the loan.

Home Loan Eligibility Calculator

Use our home loan eligibility calculator to estimate the home loan suitable for you as per your income and repayment capacity. Enter only a few essential details, such as your monthly income, city of residence, date of birth, and monthly obligations, to arrive at a suitable value as per your home loan eligibility.

The calculator provides an instant and error-free estimate of the maximum home loan amount borrowers can avail of against their current eligibility. Use the calculator before applying for a home loan to improve your chances of approval.

Proper planning and timely repayment can help borrowers maximise advantages, such as improved credit score, and home loan tax benefits.

What Are Some of the Factors that Decide Home Loan Eligibility?

The home loan eligibility of an individual depends on various factors. These include:

1. Applicant Age

An individual’s age determines a suitable tenor for the home loan. Applicants at the onset of their career can conveniently avail of the loan for an extended tenor due to their repayment potential for a long term. Lenders, thus, cap the maximum borrowing age for salaried and self-employed applicants to reduce the risk of default in repayment.

2. Credit Profile and Score

An applicant’s credit profile and score are other essential home loan eligibility parameters that help lenders identify the risk involved in extending the loan. Individuals with a high credit score of over 750 and a healthy credit profile of timely repayments stand a better chance of receiving prompt approval for a housing loan.

3. Employment Status/Business Stability

Based on the applicant’s profile, financial institutions also check their income stability. Employment of 3+ years for salaried applicants depicts a stable income source and an increased propensity for timely repayment.

Similarly, self-employed individuals with a current business vintage of 5+ years depict suitable home loan eligibility with stable occupation and a reliable income for timely repayment.

4. Condition of the Property

The mortgaged property’s condition, current market value, and resale value also determine a borrower’s eligibility for a housing loan. Properties with all amenities in their vicinity and situated in prime locations stand a better chance of raising high loan value, and vice versa. Lenders also consider a property’s age as a contributing factor in determining the maximum loan amount they can extend. Properties constructed recently carry a higher propensity for a sizeable loan amount.


Fixed Obligation to Income Ratio, or FOIR, is a measure of an applicant’s repayment capacity. It is calculated as a percentage of one’s monthly income against the fixed monthly liabilities, such as EMIs and rent. FOIR contributes to the overall housing loan eligibility and must not exceed 50% of an applicant’s monthly income for the required approval.

6. LTV

The Loan-to-Value ratio, or LTV, represents the maximum loan amount a lender can extend as a percentage of the mortgaged property’s current market value. As per the RBI guidelines, a lender cannot extend more than 90% of the property’s total valuation as a home loan. So, if the property’s value is Rs.75 lakh, the loan amount provided by the lender cannot exceed Rs.67.50 lakh.

Applicants must, therefore, make a down payment of not less than 10% of the property’s valuation to avail themselves of the required loan. The amount of down payment required and the total loan value available also depend on the LTV set by the lender within the 90% cap.