Quick Answer: How Much Home Loan Can I Get On 50000 Salary Quora?

What is the EMI for 35 lakhs home loan?

EMI for ₹ 16 lakh home loan is ₹ 14,337 taken for a shorter period of 15 years.

Current EMI for ₹ 25 lakhs loan is ₹ 16,549 and EMI for ₹ 30 lakh loan is ₹ 19,858 for a 30 year loan at the minimum interest rate..

What will be the EMI for 60 lakhs home loan?

60 Lakh at 9% (0.75% per month) rate of interest with tenure of 20 years (240 months). Then, EMI = [60,00,000 x 0.75% x (1+0.75%)^240]/[(1+0.75%)^ (240-1)]….FAQs.LTVProperty value90%Less than Rs. 30 Lakh80%Rs. 30 Lakh to up to Rs. 75 Lakh75%Above Rs. 75 Lakh

How much loan can I get if my salary is 1 lakh?

For example, if you earn Rs 1 lakh and have expenses of Rs 30,000 a month, then you can easily go for a loan with Rs 40,000 EMI. But for someone with the same Rs 1 lakh salary, but having Rs 75,000 in expenses, will find the Rs 40,000 EMI unaffordable.

What mortgage can I afford on 60k?

The usual rule of thumb is that you can afford a mortgage two to 2.5 times your annual income. That’s a $120,000 to $150,000 mortgage at $60,000. You also have to be able to afford the monthly mortgage payments, however.

How much home loan can I get on 30000 salary Quora?

approximately Rs. 16 lakhsWith a salary of Rs. 30,000 you can avail the loan of approximately Rs. 16 lakhs and you can pay off the loan in a matter of about fifteen years. The eligibility may vary slightly from one lender to another.

Is making 50k a year good?

As you can see, a salary of $50k is considered good money. However, there is ample room for improvement if you want to improve your situation. The average household income is approximately $63k. Therefore, a salary of $50k is considered below average.

What mortgage can I afford on 45k?

Simply take your gross income and multiply it by 2.5 or 3, to get the maximum value of the home you can afford. For somebody making $100,000 a year, the maximum purchase price on a new home should be somewhere between $250,000 and $300,000.

What mortgage can I afford on 70k salary?

How much should you be spending on a mortgage? According to Brown, you should spend between 28% to 36% of your take-home income on your housing payment. If you make $70,000 a year, your monthly take-home pay, including tax deductions, will be approximately $4,328.

How much mortgage can I get on 45000 salary?

Home Loan Eligibility Based on SalaryAgeNet Monthly Income (₹)25,00075,00040 years42.08 Lakh84.16 Lakh45 years36.27 Lakh72.54 Lakh50 years28.05 Lakh56.11 Lakh3 more rows

How much house loan can I get on 50000 salary?

How much home loan can I get on my salary?Net Monthly incomeHome Loan AmountRs.30,000Rs.22,37,206Rs.40,000Rs.29,82,941Rs.50,000Rs.37,28,676Rs.70,000Rs.52,20,1461 more row

How much home loan can I get on 40000 salary Quora?

Your housing loan EMI will be Rs. 12000 at a minimum per month. If you get something better than this you are getting probably the best deal. If 40k is your net take home salary after income tax and pf deductions etc.