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Gattu ka to Tukka Lag gaya pr agar aapko pata lagana hai that bank aapko kitne tak ka home loan dega to FOIR can help you.

As a rule of thumb, the EMI you pay for a Home Loan should not exceed 40-50% of your total household income minus your obligations toward other debts.

Several factors are considered while approving a home loan, one of them is the Fixed Obligation to Income Ration (FOIR) calculation. As a rule of thumb, the lenders restrict FOIR to 40-50% of the monthly income.

Since it is challenging to estimate the monthly expenses of a borrower, they consider it to be around 50%

Salary - 50% monthly expenses - current EMI’s is what is left for your home loan EMI.

The bank should get some margin here as well so that some amount is left for savings.

For example, if you earn ₹90,000 per month and you are serving a car loan of ₹3,200 per month then the FOIR calculation would be

50% of 90,000 – 3,200/868 x 1,00,000

Here, you will only be eligible for a loan amount of ₹50,00,000

Disclaimer: Banks use several factors to decide the home loan amounts. FOIR is one of them and cannot be the only factor. But you can use FOIR calculation to understand how much loan you can expect depending upon your current financial situation.

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