Home Loan Eligibility Criteria in India: Everything You Need to Know
Getting a home loan in India isn’t just about applying — banks and NBFCs check your eligibility first. Knowing these criteria helps you plan better and avoid rejection.
At Mortbuzz, we guide you step by step to improve your eligibility and get your loan approved faster.
✅ Key Home Loan Eligibility Factors
1. Age of Applicant
- Minimum: 21 years
- Maximum: 65 years (at loan maturity)
✔️ Younger applicants get longer tenure options.
2. Income / Salary
- Minimum monthly income: ₹25,000 – ₹30,000 (varies by bank)
- Higher income → Higher loan amount eligibility
✔️ Example: Someone earning ₹60,000 may qualify for a bigger loan compared to ₹30,000 salary.
3. Employment Type
- Salaried Professionals: More favorable terms, stable EMIs
- Self-employed/Business Owners: Eligibility based on ITR & profit statements
4. Credit Score (CIBIL)
- Minimum required: 750+ for best offers
- Score below 700 may result in higher interest or rejection
👉 Mortbuzz can help improve your credit profile before applying.
5. Existing Liabilities
- If you already have car loan, personal loan, or credit card dues → your loan eligibility reduces.
✔️ Lower EMIs mean higher chances of approval.
6. Property Value & Location
- Banks check property documents, market value, and legal clearance.
- Homes in prime locations get faster approvals.
7. Loan-to-Value (LTV) Ratio
- Usually 75%–90% of property value is financed.
- You must arrange the down payment (10–25%).
📊 Quick Example of Eligibility Calculation
If your monthly income = ₹50,000,
- Bank may allow EMIs up to 50% of salary → ₹25,000
- With 8.5% interest, 20-year tenure → You can get approx ₹25–28 lakh loan
🔑 Tips to Improve Your Home Loan Eligibility
- Maintain CIBIL score above 750
- Clear existing debts before applying
- Apply jointly with a spouse (co-applicant)
- Choose longer tenure to reduce EMI burden
- Use Mortbuzz for expert guidance and multiple bank comparisons
🚀 Why Choose Mortbuzz?
At Mortbuzz.in, we:
- Check your eligibility free of cost
- Suggest banks that match your profile
- Help with documentation for faster approval
- Offer cashback benefits on charges like processing fees
👉 Don’t let eligibility confusion delay your dream home. Mortbuzz makes it simple!
Conclusion
Banks check various home loan eligibility criteria like age, income, CIBIL score, and liabilities. But with the right planning, anyone can qualify for a home loan.
💡 Ready to check your eligibility? Visit Mortbuzz.in and apply today.