1. What is HDFC Home Loan Eligibility?

The HDFC Home Loan Eligibility Calculator helps you determine how much home loan you can get based on your repayment capacity. HDFC offers home loans starting at 8.45% p.a. with minimum income requirement of ₹25,000 and credit score of 750+.

2. How Does the Calculator Work?

The calculator uses the loan principal formula:

Where:

• \( P \) — Principal loan amount (INR)
• \( PMT \) — Affordable monthly payment (INR)
• \( r \) — Monthly interest rate (annual rate ÷ 12)
• \( n \) — Total number of payments (years × 12)

Explanation: The formula calculates the maximum loan amount you can get based on what you can afford to pay monthly, the interest rate, and loan term.

3. Importance of Loan Eligibility

Details: Knowing your eligibility helps in budgeting for a home purchase, understanding your borrowing capacity, and negotiating better with sellers.

4. Using the Calculator

Tips: Enter your comfortable monthly EMI (minimum ₹25,000), current HDFC interest rate (minimum 8.45%), and desired loan term. The calculator will show your maximum eligible loan amount.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum income requirement?
A: HDFC requires minimum monthly income of ₹25,000 to qualify for a home loan.

Q2: What credit score is needed?
A: A credit score of 750 or above is recommended for HDFC home loans.

Q3: What factors affect eligibility?
A: Income, existing debts, credit history, property value, and loan tenure all affect eligibility.

Q4: Are there processing fees?
A: Yes, HDFC charges processing fees up to 0.5% of loan amount + GST.

Q5: Can I get 100% financing?
A: Typically up to 75-90% of property value, depending on property type and loan amount.