Understanding home loan eligibility is the first step toward making your dream of owning a house a reality. At SMFG Grihashakti, we make it easier for you to assess your eligibility for a home loan, so you know where you stand and what steps you can take to strengthen your profile before you apply for a home loan.
Let’s take a closer look at home loan eligibility in India and why it matters.

Who Is Eligible for a Home Loan with SMFG Grihashakti?

To qualify, applicants must meet basic home loan eligibility criteria as set by lenders in India. These home loan eligibility  conditions ensure repayment capacity and financial stability.
At SMFG Grihashakti, meeting these conditions for eligibility for a house loan  can help you get approved with a favourable home loan interest rate.

Housing Loan Eligibility for Salaried Individuals

• Must be an Indian resident aged between 21 and 65 years.
  
• Should be employed with MNCs, government organisations, listed public companies, private firms, or reputed partnerships/proprietorships.
  
• Must have a stable income and be able to demonstrate corresponding proof, such as payslips.
  
• Should maintain a CIBIL score of 700 or above to satisfy eligibility for a housing loan .

Housing Loan Eligibility for Self-Employed Individuals

• Indian citizens aged 21 to 65 are eligible.
  
• Eligible entities include self-employed professionals such as doctors, architects, and chartered accountants. Sole proprietors, partnership firms, private limited companies/closely held/unlisted organisations can also apply.
  
• Must be able to demonstrate proof of steady income and profits.
  
• Must maintain a CIBIL score of at least 700.

*Please note that this is only the basic house loan eligibility. The final eligibility for a house loan will depend on several factors, including SMFG Grihashakti’s policies at the time of loan application. 

Why These Home Loan Eligibility Criteria Matter

The house loan eligibility criteria are designed in accordance with the RBI and HFC guidelines to promote responsible lending. It protects both the borrower and the lender by ensuring repayment capacity, maintaining a balanced debt-to-income (DTI) ratio, and reducing the risk of default.

Loan-to-Value (LTV) Ratio Guidelines

When assessing home loan eligibility in India, lenders follow the RBI’s loan-to-value ratio norms. As per the guidelines, the LTV ratio should not exceed 90%*. This means that borrowers need to contribute at least 10% as a down payment.

Check Your Eligibility for a Home Loan Instantly

Determine your home loan eligibility online within minutes using SMFG Grihashakti’s home loan eligibility calculator. By entering details such as monthly income, existing obligations, property value, interest rate, and tenure, you can estimate both the maximum loan amount and the expected home loan EMI.
Tip: Once you know your borrowing potential, use the home loan EMI calculator to test different loan amounts, interest rates, and tenures to understand their impact on your monthly outgo and overall budget.

Documents Required for Verifying Home Loan Eligibility

To verify your eligibility for a housing loan, you will need to submit the following documents:

• KYC Proof (Identity & Address): PAN, Aadhaar, Passport, Voter ID, Driving Licence, etc.
  
• Income Proof: Salary slips/Form 16 (for salaried applicants); ITR and CA-audited financials (for self-employed applicants).
  
• Bank Statement: Latest 6 months’ bank statements.
  
• Property Papers: Sale/title deed, NOC from the housing society or property developer, and applicable tax, possession, or occupancy certificates.

For a detailed checklist, view the complete list of the home loan documents required here.

How to Improve Your Home Loan Eligibility

If your current house loan eligibility has room for improvement, here are practical steps to enhance it:

• Maintain a good CIBIL score (700+) by paying EMIs, credit card dues, and utility bills on time.
  
• Clear existing loans and keep your DTI ideally below 30% to show healthy repayment capacity and strengthen home loan eligibility .
  
• Opt for a longer tenure to make EMIs more manageable and reduce default risk, though this may increase the total interest paid.
  
• Add a co-applicant to combine repayment capacity and improve eligibility for a housing loan.
  
• Show additional income sources such as rent, incentives, and bonuses to strengthen your financial profile.
  
• Avoid multiple loan applications in a short span to protect your credit history.

Why Trust SMFG Grihashakti?

As a leading housing finance company, SMFG Grihashakti has extensive experience in offering customised loan solutions. With transparent policies, competitive interest rates, flexible repayment tenures, and straightforward home loan eligibility , we make it easier for you to secure the right home loan.

Ready to Secure Your Dream Home?

Knowing your home loan eligibility in India helps you plan better, improve approval chances, and avoid unnecessary financial stress. Whether you are a salaried professional or a self-employed individual, SMFG Grihashakti provides tailored housing finance solutions to meet your needs. Check your home loan eligibility online today and take the next step towards owning your dream property.