A Quick Guide to Home Loan Eligibility

home loan

No other financial instrument can fulfill your housing dreams faster than a home loan. A home loan comes with attractive terms, long tenure, ultra-low interest rates, flexible payment plans, minimal documentation, and fast approval. PNB Housing Finance offers no-frill home loans to borrowers seeking urgent money for fulfilling the most cherished dream of their life.

This blog explores the different aspects of home loan eligibility and how various calculators like home loan EMI calculator, eligibility calculators, and affordability calculator can help you.

Home Loan Eligibility – What Is It and Why Do You Need To Know About It?

PNB Housing offers home loans at ultra-low interest rates. However, to get PNB Housing’s best home loan interest rates, you need to fulfill a few eligibility criteria set by the lender. Lenders employ various techniques to assess the repayment capability of a borrower.

If a borrower applies for a home loan without meeting the eligibility criteria, the lender will not only reject the loan application, but the borrower’s credit score will also be affected negatively. Hence, before applying for a home loan, try using a home loan EMI, eligibility, or affordability calculator and find the right balance between your eligibility and the EMI amount.

Home Loan Eligibility For Salaried Professionals

Salaried professionals with a stable income source get an edge in a home loan approval. If you are a salaried professional, your take-home salary will determine your eligibility. While most other lenders do not approve loans to borrowers with a take-home salary below INR 25,000 every month, PNB Housing offers home loans to all borrowers with a monthly income above INR 10,000.

Not only that, but PNB Housing also provides the best home loan interest rates to borrowers with a low monthly income. You may use a home loan eligibility calculator to check your eligibility and an EMI calculator to check the EMIs.

Home Loan Eligibility For Self-Employed Professionals

For self-employed professionals with a reliable income and robust business profile, the home loan application process may be smooth. However, self-employed professionals with doubtful income sources can face a volley of questions before the lender approves the home loan. Hence, ensure that you use a home loan EMI, eligibility, and affordability calculators before applying for a home loan.

Although PNB Housing offers the best home loan interest rates, knowing about your eligibility in advance can enable you to negotiate the rates to your advantage. Remember that or self-employed professionals varies depending on the business and the sector.

Home Loan Eligibility On The Basis Of Age

Generally, your age needs to be between 21, at the time of loan application, and 70, at the time of loan maturity. However, the higher your age, the lower will be the loan term. The maximum term of a home loan is thirty years. Hence, if you apply for a home loan at the age of 50, you will get only twenty years for repayment.

PNB Housing offers lower home loan interest rates to borrowers who are many decades away from the maximum age. It is wise to use a home loan EMI calculator to calculate the amount you can save by applying for a home loan early in life.


Besides the factors listed above, home loan eligibility criteria also depend on the borrower’s credit score, credit history, and property status. Your EMIs may be lesser than what the home loan EMI calculator displays if your credit score is above 750. Like most other lenders, PNB Housing offers the best home loan interest rates to borrowers with a high credit score and a decent income

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