DrawMagic Editorial

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Home loans & eligibility

Reduce EMI or Reduce Tenure on Prepayment: Which Is Better

Standing at the bank counter with a bonus in hand, the 'reduce EMI or reduce tenure' prompt feels bigger than it is — here's the ₹ maths that makes the choice obvious.

17 Aug 202611 min
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#home-loan-prepayment#reduce-emi-vs-tenure#part-payment
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Home loans & eligibility

Home Loan Processing Fee and Hidden Charges Explained 2026

The rate on your sanction letter is never the full cost of borrowing — here is every fee, statutory and discretionary, that sits between approval and disbursement.

17 Aug 202611 min
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#home-loan-processing-fee#hidden-charges#home-loan-costs
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Home loans & eligibility

How Home Loan EMI Is Calculated: The Formula in Plain English

The home-loan EMI number your bank quotes isn't magic — it's one formula with three inputs, and once you see it worked out in rupees, the whole 20-year commitment stops feeling opaque.

17 Aug 202611 min
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#home-loan-emi#emi-formula#amortisation-schedule
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Home loans & eligibility

EMI to Income Ratio: The 40% Rule Lenders Use in 2026

Banks will often sanction more EMI than you can actually live with comfortably — here's how to find your own safe ceiling before you sign.

17 Aug 202613 min
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#emi-to-income-ratio#foir#40-percent-rule
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Home loans & eligibility

Home Loan Eligibility on ₹30,000 Monthly Salary in 2026

The honest FOIR maths behind a ₹30,000 salary: what loan amount is realistic, what it can actually buy, and the one lever that changes everything.

16 Aug 202612 min
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#home-loan-eligibility#30000-salary#foir
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Home loans & eligibility

Home Loan Eligibility on ₹40,000 Salary: How Much Can You Borrow

On a ₹40,000 net salary, most lenders' FOIR maths caps your EMI near ₹18,000-20,000 — here's what that actually means for the loan amount you can expect.

16 Aug 202611 min
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#home-loan-eligibility#40000-salary#foir
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Home loans & eligibility

Home Loan Eligibility on ₹50,000 Monthly Salary in 2026

On a ₹50,000 salary the loan amount you actually qualify for depends less on your income and more on the tenure you choose — here's the FOIR math that decides it.

16 Aug 202612 min
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#home-loan-eligibility#50000-salary#loan-tenure
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Home loans & eligibility

Home Loan Eligibility on ₹60,000 Salary: Loan Amount Explained

If your ₹60,000 salary already covers a ₹25,000 metro rent comfortably, the real question isn't eligibility — it's whether an EMI in that range beats renting once tax and equity are factored in.

16 Aug 202611 min
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#home-loan-eligibility#60000-salary#emi-vs-rent
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Home loans & eligibility

Home Loan Eligibility on ₹75,000 Monthly Salary in 2026

On a ₹75,000 monthly salary, the FOIR math points to roughly ₹45-55 lakh in eligible loan principal — enough for a 2BHK in several metros, but tight in others.

16 Aug 202611 min
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#home-loan-eligibility#75000-salary#metro-2bhk
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Home loans & eligibility

Home Loan Eligibility on ₹1 Lakh Salary: How Much Can You Get

A ₹1 lakh salary typically qualifies for ₹60-75 lakh in eligible loan principal — the real question at this income band is how much of that you should actually borrow.

16 Aug 202611 min
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#home-loan-eligibility#1-lakh-salary#premium-segment
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Home loans & eligibility

Home Loan Eligibility on ₹1.5 Lakh Monthly Salary in 2026

A ₹1.5 lakh income, solo or clubbed, typically qualifies for ₹90 lakh to ₹1.1 crore in loan principal — enough to reach a spacious metro home almost everywhere except prime Mumbai and Delhi NCR.

16 Aug 202611 min
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#home-loan-eligibility#1-5-lakh-salary#dual-income
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Home loans & eligibility

How Home Loan Eligibility Is Calculated: FOIR and Multiplier Method

Two lenders, two different eligibility numbers on the same salary — here is the actual FOIR and income-multiplier maths behind both, worked out with real figures.

16 Aug 202611 min
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#home-loan-eligibility#foir#income-multiplier