5 Tips to Increase Home Loan Eligibility (Hindi) - YouTube

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Namaskar, my name is Mukul and welcome to asset Yogi.

Where we unlock real estate and finance knowledge.

In the last video, we discussed how you can check your home loan eligibility

I showed the calculator with it so you can easily calculate your home loan eligibility.

And we also discussed, apart from the calculation,

what are the other factors on which your loan eligibility depends

In this video, I am going to talk about how you can increase your loan eligibility.

I will give you five tips for this.

Which are foolproof tips.

If you apply any of these

your loan eligibility can be easily increased.

Let's go straight to my computer screen.

And you must watch this video till the end.

In the previous video, we saw how home loan eligibility is calculated.

What is its formula?

And how banks decide, maximum how much loan you can get.

And what factors are involved?

Apart from the formula.

On what factors home loan eligibility depends.

If you haven't seen that video

you must watch it

You will understand in detail

How is home loan eligibility calculated?

I have also shared a calculator in that video.

you can use that calculator to calculate your home eligibility.

In this video, we will see how you can increase your home loan eligibility

For that, we do a quick recap

The formula of loan eligibility is your monthly fixed income

First, divide it by 50%

That is, you can pay half the salary in EMIs.

out of that EMI that you are already paying

Suppose you have taken a credit card

Or you have taken any other loan

So subtract those EMI.

Deduct the amount that comes out of it from the EMI per lakh.

then you will get loan eligibility

How many lakhs can you take a loan?

So I also take the example of this as I told you in the last video.

Suppose your salary is 50,000 monthly.

So we took ₹ 50,000.

50% of that you will deduct for your household expenses.

The bank assumes that 50% you can pay in EMI.

Multiply it to 0.5 Suppose your total EMIs,

You have other running loans

Or you are paying the EMI of a credit card.

So let's say your total EMIs is 10,000

You will minus it

And you will divide this amount by per lakh EMI

Suppose the per lakh EMI for now is

For example

Suppose you want to take the loan for 20 years

So for 20 years at 10.5%

Per lakh, EMI is 1000

So if we put the value 1000 here.

So the amount

Is half of 50,000

25,000 - 10,000

Divided by 1,000.

If 10,000 is subtracted from 25000, then 15,000 remains.

If you divide it by 1000, then the amount of 15,00,000 will come.

So you can take a loan amount of 15 lakhs.

from any bank.

This is your home loan eligibility.

After going through this formula let us now see how we can increase our home loan eligibility.

So for that my first tip is you can join joint applicants

Suppose you are married

You can add the income of your husband or wife.

Fixed monthly income which is visible here

It will increase.

So let's say you are A and you have a monthly income of ₹50,000

And assuming your husband or wife has a monthly income of 30,000.

So here we will consider 80,000

If we take the example of 80,000 for now

Suppose you are not paying any EMI.

So you will be able to take a loan of 80 lakhs

So in this case your loan eligibility increase instantly

B can be your husband or wife.

Or someone else from your blood relation.

Like your father and mother

Brother and sister

They can be.

And as I said earlier.

So as I said before that your husband or wife, so here I write spouse

Anyone can be your joint applicant.

If you want to buy a big property then you can join your joint applicant.

And my second tip is

You can increase your loan tenure, As an example let me show you a chart

As you can see a chat here

What I have done in it.

I have taken an interest rate of 10.5% as an example for lakh EMI.

I have calculated and written it here.

And you can calculate all these EMIs by yourself.

I also made a video of an EMI calculator.

And I showed you that you can download the EMI calculator.

You can also search it on youtube and

You can download My EMI Calculator

For you can easily calculate EMI of any amount,

rate of interest or tenure with that calculator.

So from that, According to EMI for 1 lakh for every year, I have made this chart

To explain this example.

Let's see if the loan tenure increases

So how does the loan eligibility change?

Suppose you take a loan of 5 years

So your per lakh EMI will be 2,150 and

Your loan eligibility becomes 12 lakhs

If your income is 50,000.

I have calculated this for the income of 50,000

And in the second case if we look at 20 years

So you can see you're per EMI will be 1,000

And your loan eligibility will be 25 lakh

In this case, I have not considered the other EMIs of 10,000.

So I am assuming that

That your second EMI is not going on

So your loan eligibility becomes 25,00,000 It increased twice

If you increase your loan tenure,

My 3rd tip is: You can pay off your additional EMIs.

So let's say as we considered here 10,000 EMI was operating

If your loan amount is not large

And you can easily pay it, suppose you have reduced other EMIs to 0.

After having 0 EMI if we see in our example

If you change it to zero.

So 25,000 divided by 1000

And in this, your loan eligibility becomes 25 lakh

So you can see that your eligibility of 10,00,000 has increased

The second case can be that you can decrease your EMIs.

Suppose you were paying an EMI of 10,000.

So you can decrease your EMI by paying some amount

Suppose you paid the EMI of Rs.5,000

you reduced the EMI of Rs.5,000 and now you are only left with an EMI of 5,000.

So for example your EMI

It was reduced to 5000.

So in this case your loan eligibility will be

5,000 will be subtracted from 25,000

So after 20,000 divided by 1000 your eligibility becomes 20 lacs.

So you can also see that

You are easily increasing the eligibility to 5,00,000.

In the first case, your eligibility was 15 lacs and now it is 20 lacs

You can either pay off your EMIs.

Or you can decrease them.

My fifth tip is

You can add other income sources.

As you can see your loan eligibility directly depends on your monthly fixed income

So suppose you are salaried, you get a salary

so what happens other than that

In some companies, the yearly bonus is given

So you can also add your yearly bonus dividing by 12.

Or you receive rent from somewhere

So you can show your rent income

You can show old income tax returns.

Or you get interest from FD

If you have such fixed the sources of income

that you can prove easily,

that you get every month

You can show them by adding them to your income and

And you can easily increase your loan eligibility.

So these were my top five tips on how you can increase your home loan eligibility.

If you want to buy a big house and want to increase your loan amount.

Then you will find some of these tips useful.

I hope you enjoy this video.

So please like and share

If you have any suggestions so please comment below

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till then keep learning, keep earning, and be happy