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Looking at homes?

How much home can you really afford?

  • A comfortable price, a stretch, the bank's limit
  • Stamp duty counted
  • Your emergency fund kept aside
You can comfortably afford
₹69.02 L
An EMI of ₹45,000, with every EMI within 30% of take-home. Up to ₹81.48 L is a stretch.
  • From savings₹17.17 L25%
  • Home loan₹51.85 L75%

Where a ₹80 L home sits

This home ₹80 L
  • Comfortable · EMIs ≤ 30%
  • A stretch · ≤ 40%
  • Out of reach
  • Savings cover the down payment and costs
    ₹22 L from savings
  • All EMIs within 30% of take-home
    37% · ₹55,194 a month
  • 6 months kept aside
    ₹3 L stays in your emergency fund
  • Your month still adds up
    ₹44,806 left after spending and EMIs

Your inputs

The home
₹
₹10 L₹10 Cr
%
0%12%
Your month
₹
₹20K₹20 L
₹
₹5K₹10 L
₹
₹0₹5 L
Your savings
₹
₹0₹10 Cr
mo
0 mo12 mo
The loan
%
6%14%
yrs
5y30y
Your taxOptional: old regime counts 24(b) and 80C on the loan
Tax regime
Your tax slab
₹
₹0₹1.5 L

Up to ₹2L of interest a year (Section 24(b)) and the principal you repay, within what is left of ₹1.5L (80C), come off your tax.

Keep your inputs as a file; it never leaves your device.

What this means

  • Your EMI budget sets the limit. ₹45,000 a month buys a ₹51.85 L loan over 20 years at 8.5%.
    Why?

    More savings helps most when cash is the limit; a lower rate or longer loan helps most when the EMI is.

  • Stamp duty and registration add ₹5.6 L to this home, paid from savings on top of the down payment.
    Why?

    Stamp duty is 5–7% in most states, less for women buyers in some; registration is about 1%. Banks don't lend for either.

  • Each point of interest moves your budget by about ₹3.54 L.
    Why?

    Home loans are mostly floating, so rates can rise after you buy. A buffer below your comfortable price absorbs that.

  • ₹3 L stays aside as 6 months of spending and EMIs, so a job loss doesn't put the home at risk.
More details

How it's paid for, and your month after

Price plus buying costs₹85.6 L
  • Down payment · 21%₹16.4 L
  • Stamp duty & costs₹5.6 L
  • Home loan₹63.6 L
Your take-home each month₹1,50,000
  • Spending₹50,000
  • Home loan EMI₹55,194
  • Left over₹44,806

What moves your comfortable price

  • Your numbers₹69.02 L

    Where you are today

  • Rate 1 point lower₹72.77 L

    +₹3.74 L

  • Rate 1 point higher₹65.68 L

    −₹3.34 L

  • A 25-year loan₹72.79 L

    +₹3.77 L

  • ₹5 lakh more saved₹73.7 L

    +₹4.67 L

Each row changes one thing and keeps the rest of your numbers.

Tax breaks on your loan, year 1

  • Section 24(b) interest, ₹2L a year cap₹0 deducted · saves ₹0
  • Section 80C principal, ₹1.5L cap with your other 80C₹0 deducted · saves ₹0

New regime: no deduction, so the loan costs its full 8.5%. Switch to Old to see the saving.

Next stepIs buying a ₹80 L home better than renting?What you'd own both ways, after EMIs, rent and stamp duty.Next stepSee where a ₹63.6 L loan's EMIs goPrincipal and interest year by year, and what a prepayment saves.

How it's calculated

Two limits meet, and the price is the highest one both allow.

  • Your EMI budget: every EMI together, old and new, within 30% of take-home is comfortable, 40% a stretch, and 50% about where banks stop lending. What's left after your existing EMIs sets the loan.
  • Your savings: after keeping your emergency months aside, they must cover the down payment plus stamp duty and registration, which banks don't lend for.
  • RBI loan limits: banks lend at most 90% of the price for loans up to ₹30 lakh, 80% up to ₹75 lakh, and 75% above that.

Your monthly spending should leave out rent you'd stop paying once you move in. Maintenance, property tax and interiors are not counted; budget for them separately.

Home-loan tax breaks (old regime only). The refund is the deduction times your slab rate. The new regime allows no deduction on a self-occupied home.

24(b) saving = min(interest, ₹2,00,000) × slab
80C saving = min(principal, ₹1,50,000 − other 80C) × slab
Cost of the loan = rate × (1 − 24(b) saved ÷ interest paid)

Tax figures follow Budget 2025 rules, for FY 2025-26 onward.

Common questions

How much house can I afford on my salary?
A common rule is to keep all your EMIs within 30–40% of take-home pay. On ₹1.5 lakh a month that's an EMI of about ₹45,000, which at 8.5% over 20 years supports a loan of roughly ₹52 lakh. Your savings then decide how much more you can put down.
How much home loan will a bank give me?
Banks look at your FOIR, the share of income all your EMIs take, and usually stop around 50–60% of net pay. They also cap the loan at 75–90% of the property's value under RBI rules. What they'll lend is often more than is comfortable to repay.
How much down payment do I need for a house in India?
At least 10% for loans up to ₹30 lakh, 20% up to ₹75 lakh and 25% above that, plus stamp duty and registration of 6–8% of the price, which banks don't finance.
Should I use all my savings for the down payment?
No. Keep six months or so of spending and EMIs aside first. A job loss or medical bill soon after buying is exactly when you'd need it, and missing EMIs hurts your credit.
Is a longer home loan tenure better?
A longer tenure lowers the EMI, so you can afford more, but you pay much more interest overall. Many buyers take a long loan for the lower EMI and prepay when they can.
How much home-loan tax can I save?
Under the old regime, up to ₹2 lakh of interest a year (Section 24(b)) plus the principal you repay within what is left of ₹1.5 lakh (Section 80C). At the 30% slab that is up to ₹60,000 plus ₹45,000 a year. The new regime allows neither on a self-occupied home.
Why does the calculator ask what I already use under 80C?
The ₹1.5 lakh limit is shared with EPF, PPF, ELSS, life-insurance premiums and tuition fees. Your loan principal only gets what is left, and for many salaried people EPF alone uses most of it.
Does the ₹2 lakh limit apply to joint loans?
It applies to each person. Co-owners who are also co-borrowers each claim up to ₹2 lakh of interest and ₹1.5 lakh under 80C, in proportion to their share of the loan. Enter only your own share here.
What if the home is let out or still being built?
For a let-out home the interest has no cap, but setting a loss against your other income stops at ₹2 lakh a year. Interest paid before you get possession is claimed in 5 equal parts from the year the home is finished, inside the same cap. If a self-occupied home isn't finished within 5 years of the loan, the cap falls to ₹30,000. This calculator models a finished, self-occupied home.
Can I claim stamp duty, and what if I sell early?
Stamp duty and registration count under 80C in the year you pay them, which this calculator does not add. Selling the home within 5 years of getting possession adds the 80C you claimed back to your income.
What about the extra 80EE and 80EEA deductions?
They ended for loans sanctioned after 31 March 2022, so they are not modelled.
How exact is the tax saving?
It is a close estimate: the deduction times your slab rate. Cess (4%) would add a little, and a large deduction can pull you into a lower slab. The Income-tax Act 2025 (from 1 April 2026) renumbers these sections, but the limits stay as above.

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