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HDFC Home Loan Eligibility Calculator

HDFC Home loan eligibility calculator helps the potential home loan customers compute their eligibility using the online calculator in order to ascertain whether or not an individual is eligible to acquire home loan of a particular amount or not. A home loan eligibility calculator helps you calculate as to how costly a house can prove to be for you based on your income and other inter-related factors. The home loan eligibility calculator provides the loan applicant with an assistance to determine his ability, capacity to avail a particular home loan scheme on the basis of the following factors:

  • Net pay - Net salary or the net pay is the ultimate income or the remaining amount of income after making all tax and other sorts of deductions from the gross/total salary of the individual.
  • Loan Amount - This is the amount of home loan required by an individual. Normally if the EMI amount is lower than half of the income of the individual than he/she is eligible for the home loan without doubt.
  • Loan Tenure - This refers to the total duration or the period for which the loan has been acquired in terms of years.
  • Applicable interest rate - The rate of interest opted by the home loan applicant is also an important factor to determine whether the home loan applicant is eligible to acquire the home loan or not. The interest may be charged either at fixed interest rate or floating interest rate.

HDFC Home Loan Enquiry Questions

The bank's home loan department does enquiry about customers who have applied for home loans, Apart from the monthly income of an individual there are certain other factors taken into consideration by the bank in order to ensure the eligibility of the individual are:

  • Profession - Profession of the home loan seeker is also an important factor considered as to whether to or not to grant the home loan.
  • Location of the property - The bank also takes an account of the area and the location of the property for which the home loan is being seeked.
  • Profile of the home loan applicant - The profile of the individual is another important factor considered by the bank that helps them decide upon if the home loan applicant would be able to repay the loan or not.

Any person wishing to avail a home loan from any banking or financial institution is advised to find out definitely if he/she is capable of repaying the home loan so acquired. The repayment capability of any individual home loan applicant depends upon various factors like -

  • Salary of the individual
  • Income of the close family member/spouse
  • Age factor
  • Number of dependent family members
  • Financial assets and liabilities
  • Other loan commitments(if any)
  • Savings made over a period of time

All these factors are taken into account even by the HDFC before agreeing upon providing home loan to an individual so that he/she is than able to repay the home loan amount without any hassles. The main idea is to calculate the amount of home loan an individual is liable to on the basis of his earnings.

You can find more on HDFC home loan eligibility criterion and eligibility calculator on the HDFC website www.hdfc.com



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