Home Loan Eligibility in India – How Much Can You Actually Borrow?

While looking for properties to purchase, one may wonder, “Will I even be eligible for a Home Loan this size?” Figuring out your Home Loan eligibility in India is about how much loan amount you can qualify for. With a basic understanding of what lenders look for, you can get a fairly accurate idea of how much loan you can get, and how to increase your chances of approval. 

What is Home Loan Eligibility?

In simplest terms, Home Loan eligibility determines how much you can borrow based on your personal and financial profile. Factors like income, age, repayment capacity, credit history, and ongoing obligations all play a role in deciding the loan amount you can borrow.  

Key Factors That Affect Your Home Loan Eligibility

When assessing your Home Loan eligibility, lenders don’t just look at your income. They consider the full picture. It’s about how steady your earnings are, what existing financial commitments you already have, and even where the property is located. In India, your eligibility is typically shaped by a combination of factors such as:  

• Monthly income 
• Age  
• Existing debts 
• Credit score 
• Type and location of property 

Employment Status and Income Stability

Are you a salaried professional working with a reputed firm or a self-employed entrepreneur with variable earnings? Salaried applicants with a minimum of 3 years of work experience in a reputed firm and self-employed applicants with consistent business operations of at least 3 years can apply for a Home Loan with Bajaj Housing Finance.  

Age 

Salaried applicants within the age range of 23 to 67 years** and self-employed applicants between 23 and 70 years** of age can apply for a Home Loan with Bajaj Housing Finance. 

**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit is subject to change, depending on the property profile. 

Credit Score and Credit History

Your credit score is like your financial report card. A score above 750 often shows high creditworthiness. But if your score is lower, you may secure a Home Loan at a slightly higher interest rate.  

You can always check your credit score before applying and take necessary measures to improve it before applying for a Home Loan. 

Debt-to-Income Ratio 

Your debt-to-income ratio is the percentage of your monthly income that goes towards existing loans or credit card dues. A lower DTI means higher eligibility. 

Let’s say you earn Rs.60,000/month and pay Rs.10,000 towards an existing loan and credit card combined. That’s a debt-to-income ratio of about 17%. But if your debt obligations increase to Rs.25,000, your debt-to-income ratio will increase too and can lower your eligibility.  

Property Valuation and Down Payment

Even if you're eligible for a high loan amount, the property’s valuation and your willingness to make a sizeable down payment play a key role. The higher your down payment, the better your chances of securing a loan at a competitive interest rate and manageable EMIs.  

How Much Home Loan Can You Get Based on Monthly Income?

Wondering how much Home Loan amount you can avail of? You can use our Home Loan Eligibility Calculator. You need to enter details like your monthly income, birth date, city of residence, and monthly obligations. Once you enter these details, you’ll get an estimate of how much loan you can avail. 

What Documents Are Required to Apply for a Home Loan?

Lenders need a few documents to assess your application. You’ll need proof of identity such as an Aadhaar Card or a Voter ID, PAN Card or Form 60 (mandatory), proof of income (salary slips or IT returns), address proof, bank statements for the last 6 months, and property-related documents. 

If you’re self-employed, you may also be asked for business proof and profit/loss statements. Note that lenders may ask for additional documents while processing your loan.  

Tips to Improve Your Home Loan Eligibility

If the numbers aren’t quite where you want them to be—don’t worry. You can always work on boosting your eligibility. Here’s how (without going down a long checklist): 

• Repay or consolidate existing loans (less debt = more room for EMI) 
• Add a co-applicant (joint eligibility = higher combined income) 
• Choose a longer tenure (lower EMIs = higher loan sanction) 
• Maintain a healthy credit score (over 750 is ideal) 
• Provide accurate income documents (especially if self-employed) 

Even small adjustments—like clearing a credit card balance or closing an old loan—can make a meaningful difference. 

Apply for Your Home Loan with Bajaj Housing Finance

Think you're ready to take the next step? Whether you’ve already calculated your eligibility or are just starting your journey, you can apply with Bajaj Housing Finance and experience a smooth homeownership journey. Here’s how you can apply for a Home Loan with us: 

7. Start by visiting our Housing Loan application form.  
8. Begin by entering your basic details, such as your name, contact number, and employment type. 
9. Next, choose the type of loan you’re applying for and share your monthly income. 
10. Enter your area PIN code and the loan amount you wish to apply for. 
11. Click on ‘Generate OTP’, enter the OTP you receive, and then click on ‘Proceed’. 
12. You’ll then be asked to provide your financial details, which may vary depending on whether you’re salaried or self-employed. 

13. Once you’ve filled in all the information, click ‘Submit’ to complete your application. 

After submission, one of our representatives will reach out to you within 24 hours** to guide you through the next steps. 

*Terms and conditions apply.