How Much Home Loan Can I Get on 70000 Salary?

When considering a home loan on a ₹70,000 salary, it's essential to understand the eligibility criteria and required documentation. Applicants should also be aware of the pertinent interest rates, expected EMI amounts, and other associated fees. To help you achieve your home ownership aspirations as soon as possible, Urban Money provides a comprehensive overview of a home loan on ₹70,000 salary. Continue scrolling down for more information.

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Written By
Kirti Bansal
Kirti Bansal
Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Eligibility Criteria for a Home Loan on 70000 Salary

The following are common eligibility criteria when seeking a home loan for a ₹ 70,000 salary: 

  • The applicant must be aged between 21 and 60 years old.
  • The applicant must be either a salaried or self-employed individual.
  • The applicant must have a regular source of income that covers the loan EMIs.
  • The applicant must have a good credit score, typically 700 or above, considered ideal.
  • The applicant must be an Indian citizen.

Documents Required for Home Loan on 70000 Salary

The following are the required documents for a ₹ 70,000 salary home loan:

  • Proof of Identity: PAN Card (Mandatory), Aadhaar Card, Passport, or Driving License.
  • Proof of Address: Electricity Bill, Gas Bill, Property Tax Receipt, or Voter ID.
  • Proof of Income: Salary slips, Form 16, and income tax returns are required for salaried individuals. Meanwhile, self-employed applicants should provide documents such as the Balance Sheet, Profit and Loss Account, Income Tax Returns, TDS Certificate, etc.
  • Proof of Property: Title deeds, allotment letter, valuation report, receipt of payment, etc.

Tips to Increase Your Chances of Getting a Home Loan on 70000 Salary

You can follow these tips to increase your chances of getting a mortgage with a ₹70,000 salary:

  • Maintain a high credit score
  • Settle outstanding debts or loans
  • Consider a larger down payment
  • Present all income sources
  • Opt for a longer tenure
  • Include co-applicants

How Much of a Housing Loan Can You Get With Your 70000 Current Salary?

Individuals with a monthly income of INR 70,000 can qualify for a home loan, with offers potentially reaching up to INR 60 Lakhs, depending on their creditworthiness. To get precise estimates specific to your financial profile, try Urban Money’s home loan eligibility calculator. This tool provides accurate results based on the details you input.

To determine the maximum loan amount you are eligible for with a ₹ 70,000 salary home loan, follow the simple steps provided below:

  • Visit the official website of Urban Money.
  • Select Loans -> Home Loan. Then click on “Home Loan Eligibility Calculator” under Home Loan Calculators section.
  • You will be directed to a new page titled “Home Loan Eligibility Calculator,” where you can check your maximum eligible home loan amount.
  • Input your name, mobile number, preferred city, occupation type, monthly salary, existing EMIs, required loan amount, desired tenure, and date of birth.
  • Once you fill in the required information, click the “Check Now” button.
  • The result will be displayed instantly, including your eligible home loan amount, interest rate, loan tenure, and EMIs.
  • As you scroll down the page, you can also view the pertinent Banks/NBFCs available for home loans.

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