Affordability Calculator tells you the maximum property price you can comfortably target based on your monthly income, existing EMI commitments and available down payment. Uses the standard 40% FOIR cap and 80% LTV assumption — the same constraints lenders use to size your home-loan sanction.
Home Affordability Calculator — How Much House Can You Afford?
Reviewed by Nas, PropyMart AI · AI Property Advisor · Last updated 2026-08-21
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How do I use the Affordability?
- Inputs: monthly income, existing EMIs, down payment
- Output: max loan, max property price, indicative EMI
- Uses 40% FOIR cap (standard lender rule)
- 80% LTV assumption (20% own funds)
- Pair with Loan Advisor to lock the actual bank
How does the Affordability compare to similar tools?
What questions does the Affordability answer?
How much house can I afford on a ₹1 lakh monthly salary?
At 40% FOIR, 8.5% interest and 20-year tenure: ~₹46 lakh home loan + 20% down payment = ~₹57 lakh property. Subtract any existing EMIs from the affordability.
What is FOIR and why is it 40%?
Fixed Obligation to Income Ratio = (All EMIs ÷ Net monthly income) × 100. Lenders cap at 40–50% so you have enough buffer for living expenses and unexpected costs.
How much down payment should I have?
Minimum 20% of property cost. Adding 10–15% extra reduces EMI burden meaningfully and improves loan-approval odds with a sub-prime credit profile.
Can I include my spouse income for higher affordability?
Yes — a joint home loan with both incomes can almost double the eligibility, and both partners get tax deductions on interest and principal.
Do banks consider rental income and bonuses?
Rental income: 70% counted if reflected in ITR. Bonuses: averaged over 2–3 years, with a 50% haircut. Variable pay is treated conservatively.
How much should EMI be vs my salary?
Aim for EMI ≤ 35% of net take-home, leaving 5% buffer below the 40% lender cap. This keeps lifestyle, savings and emergency fund intact.
Should I buy now or wait to save more down payment?
If rent + savings of waiting ≥ 1 year of EMI savings, wait. Otherwise buy — property prices typically appreciate 6–8%/year, outpacing additional savings on a fixed salary.
Are there hidden costs beyond the property price?
Yes — budget another 7–10% for stamp duty + registration, 1–2% brokerage, society move-in deposits, registration cost and interior/move-in fit-out.