Save Lakhs

by Venba Apps

Affordability Calculator

Find out what property you can afford based on your budget

Your Budget

₹10.00L
₹1L₹1Cr
₹30,000
₹10K₹2L
₹75,000
₹20K₹5L

Loan Parameters

8.00%
6.5%12%
20 years
5 years30 years

Affordable!

You can afford this property

Maximum Property Price
₹45.87L
₹45,86,628
Down Payment
₹10.00L
21.8%
Loan Amount
₹35.87L
78.2%

Loan Cost Breakdown

Monthly EMI₹30,000
Loan Amount₹35,86,628
Total Interest+ ₹36,13,371
Total Amount Payable₹72,00,000
EMI to Income Ratio40.0%
✓ Excellent - Low financial stress

Recommendations

  • •Excellent! Your down payment and EMI ratios are within ideal ranges. You have room for other financial goals.
  • •Property price is 5.1x your annual income. Consider a lower budget or increase income.

Don't Forget These Costs

Stamp Duty & Registration₹2,75,198 (≈6%)
GST on Under-Construction₹2,29,331 (≈5%)
Home Loan Processing Fee₹17,933 (0.5%)
Total Additional Costs
≈ ₹5.05L

Affordability Insights

Financial Safety Buffer

Your EMI to income ratio is 40.0%

Keeping EMI below 50% of income ensures you have buffer for savings and emergencies.

  • Monthly income: ₹75,000
  • Monthly EMI: ₹30,000
  • Remaining for expenses: ₹45,000
  • Down payment: ₹10,00,000 (21.8%)

Excellent! You have a healthy buffer for savings and investments.

Check if you're eligible for this loan

Use our Loan Eligibility Calculator to verify you qualify for your target loan amount

Understanding Affordability

Property Price Formula

Max Property Price = Down Payment + Loan Amount

Your loan amount is calculated from your monthly EMI budget using the standard loan formula. A higher down payment means you can afford a more expensive property.

Key Factors

  • Down payment available (typically 10-20% of property price)
  • Monthly EMI budget (should be ≤50% of income)
  • Interest rate (varies by lender, 8-10% typical)
  • Loan tenure (longer = lower EMI, but higher total interest)

Down Payment

Banks typically require 10-20% down payment. Higher down payment (20%+) gets you better interest rates and reduces EMI burden significantly.

Hidden Costs

Budget an additional 10-15% for stamp duty, registration, GST (for under-construction), processing fees, legal fees, and initial maintenance/furnishing costs.