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DHFL Home Loan Eligibility Calculator India May 2017

Last Updated 09th May 2017

Home Loan Eligibility Criteria

Eligibility Conditions SalariedSelf Employed
Age 21 to 60 years 21 to 65 years
Maximum Loan Amount Rs. 50,000,000 Rs. 50,000,000
Maximum LTV 80% 80%
Minimum Work Experience 2 Years 5 Years
Rate of Interest - linked to PLR 8.60% to 9.75% 9.10% to 10.00%
EMI Per Lakh Rs. 776 Rs. 812
Home Loan Eligibility Calculator
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DHFL home loan eligibility based on age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. To be eligible for DHFL home loan, you must be at least 21 years of age at the time of loan commencement. DHFL offers home loans for a maximum period of 30 years subject to the condition that the borrower’s age at the end of the tenure must not exceed 30 years for salaried borrowers and 30 years for self employed borrowers. The maximum tenure of loan that you may be eligible for will be as follows:
  • Your current age Max tenure for salaried Max tenure for self employed
    25 years 30 years 30 years
    30 years 30 years 30 years
    35 years 25 years 30 years
    40 years 20 years 25 years
    45 years 15 years 20 years
    50 years 10 years 15 years

    DHFL home loan eligibility based on income

  • Net Income: Your net monthly income (take home salary after all deductions like PF, ESI, gratuity) determines your home loan servicing capacity. It determines how much home loan EMI you are capable of paying after meeting living expenses based on your standard of living. For instance, if your net monthly income is Rs 70,000 and the value of house you are buying is Rs. 50 lakh, then at 8.60 % interest rate offered by DHFL, the maximum loan amount that you will be eligible for (assuming you have no other EMI’s to pay) would be as follows:
  • Age Net Monthly Income (Rs.)
    50,000 75,000 100,000
    25 years 4,188,081 6,282,122 8,376,162
    30 years 4,188,081 6,282,122 8,376,162
    35 years 4,002,576 6,003,864 8,005,151
    40 years 3,717,843 5,576,765 7,435,686
    45 years 3,280,807 4,921,210 6,561,613
    50 years 2,609,998 3,914,997 5,219,997

    You may consider repaying any loans with short tenure and high EMI in order to increase your home loan eligibility.

  • Nature of Employment: DHFL will check whether you are salaried or self employed an the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. DHFL requires minimum income history and job stability of more than 2 years for salaried individuals and of 5 years for self employed individuals.
  • DHFL home loan eligibility based on value of property

  • Value of property: DHFL will not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
  • Property Value LTV
    Less than 30 lakh 90%
    Between 30 lakh and 75 lakh 80%
    Above 75 lakh 75%
  • Co-applicant: Adding a co-applicant increases your eligibility for home loan as it increases your repayment capacity. The co-borrower you add should have good income, low obligation and clean CIBIL record.
  • CIBIL Score: When checking eligibility for home loan, DHFL will look at the complete CIBIL report. DHFL will check your repayment history for all current and past loans and credit cards.
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the bank’s legal team.
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*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.
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