[Calculator] Which house can I afford with a loan?

Real Estate just happens to be a purchase where you never, ever, stick to your budget. I have heard countless stories where people went to buy a 1 bhk but ended up booking a 3 bhk. A 1000 sq.ft. carpet soon became a 1600 sq.ft. carpet.

And then you go about running calculations with your excel sheet, banker and family.

Can we afford this? Do we have enough downpayment? HOw much loan will we get? Can we service the EMI? and many more.

If you are out in the market for buying your first house, there will be several questions crossing your mind.

I have lived this experience myself as well as with other people, who I was trying to help.

Well, let’s see if we can get some answers to the questions and act a bit rational.

Here’s the link to the Home Affordability and Loan Eligibility calculator page.

Do share you feedback and comments and share with others so that they can benefit from it too.

What can I know with this calculator?

This calculator can help you set your homebuying budget. You can get an estimate of the house you can afford with a mix of your savings as well as a mortgage/ loan. 

Which incomes can I include?

Does my credit score impact my loan?

How does loan to income ratio impact affordability?

What if I have other loans I service via EMIs?

What are the upfront costs of buying a home?

What other ongoing expenses should I consider when I buy a home? 

When should I not buy a house?