Home Affordability Calculator
Estimate how much home you can afford based on EMI capacity, savings, down payment, stamp duty, and registration costs.
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AffordabilityResults
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Open calculatorAssumptions and methodology
Transparent calculation notes for Home Affordability Calculator.
Formula used
The estimate compares what your EMI capacity can support with what your available savings can fund upfront.
Methodology
- Estimate maximum affordable EMI from income, FOIR, and existing obligations.
- Convert that EMI into a loan-supported property value.
- Compare it with savings available for down payment, stamp duty, and registration.
Core assumptions
- FOIR, interest rate, tenure, down payment, stamp duty, and registration stay constant.
- Savings entered are available for home purchase upfront costs.
- Target affordability checks both EMI and upfront cash capacity.
Not included
- Credit score, age, lender policy, legal checks, insurance, brokerage, and furnishing costs are excluded.
- Actual stamp duty and registration can vary by state, city, gender, and property type.
About Home Affordability Calculator
Guide1What is Home Affordability?
A home affordability calculator estimates the property value you can reasonably consider based on monthly income, existing obligations, EMI capacity, savings, and upfront costs such as down payment, stamp duty, and registration.
It is useful before shortlisting homes because the purchase price is only one part of the decision. Your monthly EMI and upfront cash requirement both need to fit comfortably.
2How Home Affordability is Calculated
The calculator compares two limits:
- EMI capacity: Monthly income multiplied by the FOIR assumption, minus existing obligations
- Upfront capacity: Savings available for down payment, stamp duty, and registration
The affordable home value is the lower of the loan-supported property value and the savings-supported property value.
3How to Use This Calculator
- Step 1: Enter your monthly income and existing monthly obligations
- Step 2: Add savings available for down payment and charges
- Step 3: Set interest rate, tenure, FOIR, down payment, stamp duty, and registration assumptions
- Step 4: Compare your target property value with the estimated affordable range
4Important Home Buying Costs
- Down payment: Usually 10-25% of property value depending on lender and loan size
- Stamp duty and registration: Vary by state, city, gender, and property type
- Other costs: Processing fee, insurance, brokerage, legal charges, maintenance deposit, furnishing, and moving costs