Home Loan Eligibility Calculator
A Home Loan Eligibility Calculator is a valuable tool for potential homeowners, allowing them to estimate how much loan they qualify for based on their financial situation with a bank or NBFC. This calculator considers several factors, including age, income, current debts, and property value, to estimate the loan amount.
Global IME BankRate 8.4% | Max Term 30yrsView
Himalayan BankRate 8.4% | Max Term 30yrsView
Home Loan Eligibility Criteria
Looking to get a home loan? Before you apply, find out if you meet the eligibility criteria set by various banks and financial institutions. Knowing your home loan eligibility in advance makes the entire process easy and quick for you.
Home Loan Eligibility Criteria Checklist | |
|---|---|
| Age | 18-70 Years |
| Credit Score | 650 and above is considered as "good score" |
| Monthly Income | Min. NPR 25,000 (may vary from lender to lender) |
| Nationality | Nepali Residents, NRNs & Persons of Nepali Origin |
| Loan-to-value Ratio | Upto 90% of property value |
Home Loan OffersNew Schemes
How to Calculate Home Loan Eligibility Online
The GharChaiyo Home loan eligibility calculator is very easy to use. Take the following steps:
Once you take all the steps above, you will be able to view the amount that you are eligible to borrow. In addition, you will also get to know your EMI on the home loan.
Key Factors Affecting Your Home Loan Eligibility
Check out some of the most important factors that may affect your home loan eligibility:
Bank-wise Home Loan Eligibility Criteria
Nepal Investment Bank Home Loan
- Resident type: Nepali Residents and Non-Resident Nepalis (NRNs)
- Applicant's age: 21 - 68 years
- Min. monthly income for primary applicant: NPR 35,000
Nabil Bank Home Loan
- Applicant's age: 18 - 70 years
- Resident type: Nepali Residents and Non-Resident Nepalis (NRNs)
- Min. monthly income for primary applicant: NPR 30,000
- Maximum LTV ratio: 80% of property value
Global IME Bank Home Loan
- Applicant's age: 18 - 75 years
- Resident type: Nepali Residents, NRNs & Persons of Nepali Origin
- Min. monthly income: NPR 25,000 (may vary based on location)
- Loan amount: Up to NPR 20 crores
Himalayan Bank Home Loan
- Applicant's age: 21 - 70 years
- Resident type: Nepali Citizens and NRNs
- Min. monthly income: NPR 40,000 for Kathmandu Valley, NPR 35,000 for other areas
- Maximum repayment period: 25 years
Nepal Bank Limited Home Loan
- Applicant's age: 21 - 65 years
- Resident type: Nepali Citizens
- Min. monthly income: NPR 28,000
- Minimum loan amount: NPR 5 lakhs
- Property should be within municipality limits
Home Loan FAQs
You'll typically need to submit the following documents:
- Identity proof (citizenship certificate, passport)
- Address proof (utility bills, voter ID)
- Income proof (salary slips, IT returns, bank statements)
- Property documents (sale deed, property valuation certificate)
- Passport-sized photographs
- PAN card or tax clearance certificate
Additional documents may be required based on the specific bank and loan program.
You can check your home loan eligibility through several methods:
- Use the GharChaiyo online eligibility calculator
- Visit the bank's website and use their calculator
- Speak directly with a loan officer at your preferred bank
- Consult with a financial advisor or mortgage broker
Key factors affecting eligibility include your income, age, credit score, employment stability, and existing loan obligations.
Yes, having a co-applicant can significantly improve your chances of loan approval in several ways:
- Combined income increases your loan eligibility amount
- Lowers the risk profile for the lender
- May help overcome credit score issues if the co-applicant has a good score
- Could help qualify for more favorable interest rates
Co-applicants are generally expected to be immediate family members like spouse, parents, or adult children.
Typically, the following individuals can be co-applicants for your home loan:
- Spouse (most common co-applicant)
- Parents
- Adult children
- Siblings
Most banks in Nepal prefer co-applicants to be immediate family members. The co-applicant should meet the bank's eligibility criteria like age, income stability, and credit history.
Here are several ways to improve your home loan eligibility:
- Maintain a good credit score (above 750 is ideal)
- Reduce existing debt obligations
- Add a co-applicant with stable income
- Increase your down payment amount
- Choose a longer loan tenure
- Maintain stable employment history
- Build a relationship with the lending bank
- Consider a smaller loan amount initially
Working on these factors can significantly improve your chances of getting approved for a home loan with favorable terms.
Disclaimer: The information available on this site has been gathered from publicly available sources and is accurate to the best of our knowledge. However, please be aware that the rates and other offers may vary based on your profile and may be subject to change without notice. Therefore, we advise you to verify the information before applying for any loan through this website. Magicbricks accepts no liability for any loss arising from the use of the information on this website. Refer T&C for the detail. (T&C link: https://property.magicbricks.com/terms/terms.html)
**This service is available in select cities only.
*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.