# What is the formula of home loan eligibility?

The formula: Home loan eligibility=monthly savings/equated monthly instalment (EMI) per lakh x 1 lakh. For a home loan of Rs1 lakh taken for 20 years at 10% interest rate, the EMI would be around Rs965. So, in this case, the eligibility would be 15,000/965 x 1 lakh, or Rs15. 54 lakh.

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## What is the formula of home loan eligibility?

The formula: Home loan eligibility=monthly savings/equated monthly instalment (EMI) per lakh x 1 lakh. For a home loan of Rs1 lakh taken for 20 years at 10% interest rate, the EMI would be around Rs965. So, in this case, the eligibility would be 15,000/965 x 1 lakh, or Rs15. 54 lakh.

### How much salary is eligible for home loan?

If your net monthly income is between ₹ 25,000 – ₹ 40,000, you may be eligible for a loan if your fixed obligations (rent, EMI) do not exceed 50% of income. For a net monthly income greater than ₹ 40,000, you may be eligible for loans if your fixed obligations do not exceed 65% of your income.

**What is the EMI for 30 lakhs home loan for 10 years?**

Loan amount Rs 30 Lakhs: The EMI for tenor of 10 years will be Rs. 39,645. For tenor of 15 years will be Rs. 32,238.

**How much home loan can I get on 75000 salary?**

SBI Home Loan Eligibility Based on Salary

Monthly Income | Loan Amount |
---|---|

Rs. 60,000 | Rs.45,32,079 |

Rs. 65,000 | Rs.49,09,752 |

Rs. 70,000 | Rs.52,87,425 |

Rs. 75,000 | Rs.56,65,098 |

## Can I get home loan with 15000 salary?

If you are a salaried individual, then you can be eligible to get a housing loan up to 60x your net monthly income as a rule of thumb. So, if your net monthly salary is Rs. 15,000, you can get a home loan up to approximately Rs. 9,00,000.

### How much home loan can I get from Corp Bank?

Avail up to Rs.5 crore as home loan from Corp Bank for the purpose of construction of a new house or purchase a new or existing house/flat. The Corporation Bank offers several types of home loans customised to suit different needs. Here are the various types of home loan schemes offered by the bank: Interest Rate: 8.10% p.a. to 8.35% p.a.

**How do I calculate EMI on a corporation home loan?**

Compute the Equated Monthly Instalment (EMI) payable towards your home loan using the Corporation Home Loan EMI calculator. The EMI per lakh is Rs.794. Enter all the required fields with relevant information such as interest rate, loan amount, tenure and the processing fee on the Home Loan EMI Calculator and select ‘Calculate’.

**How to apply for a home loan with Corporation Bank?**

Below are the documents required to apply for a home loan with Corporation Bank: Housing loan application. Proof of identity (Voter ID/Passport/Driving License). Last six months bank statement. IT Returns for the last 2 years. Proof of address for self-employed individuals.

## What are the different types of home loans offered by Corporation Bank?

The Corporation Bank offers several types of home loans customised to suit different needs. Here are the various types of home loan schemes offered by the bank: Interest Rate: 8.10% p.a. to 8.35% p.a. A second loan for enhancement available based on the merits of the case.