Introduction
Before approving a home loan, banks carefully evaluate your profile to check repayment ability and credibility. Knowing the eligibility criteria helps you prepare in advance and avoid rejection.

Here are the main factors banks consider when assessing your home loan eligibility.

1. Age

• Minimum: 21 years

• Maximum: 60 years (salaried) or 65 years (self-employed) at the time of loan maturity

2. Income

• Salaried: Stable monthly salary with at least 2 years of work experience

• Self-employed: Minimum 3 years of stable business income

3. Credit Score

• Ideal CIBIL score: 750 or above

• A higher score improves approval chances and helps you secure lower interest rates

4. Employment/Business Stability

• Salaried: Must be employed in a reputed company or government organization

• Self-employed: Should show consistent business records and IT returns

5. Existing Loan Obligations

• Banks calculate FOIR (Fixed Obligation to Income Ratio).

• Ideally, your EMIs should not exceed 40–50% of your net income.

6. Property Value

• The property should be legally clear, with valid approvals and ownership papers.

• Banks generally finance 75–90% of the property value (Loan-to-Value ratio).

Tips to Improve Eligibility

• Pay off existing debts to reduce EMI burden.

• Maintain a good CIBIL score by paying bills/EMIs on time.

• Apply jointly with a co-applicant to boost income eligibility.

• Opt for a longer tenure to reduce EMI amount.

Conclusion
Understanding home loan eligibility helps you plan better and increases your chances of quick approval. At Mera Loan Doctor, we guide you through every step — from checking eligibility to connecting you with major banks for the best offers.