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Are you ready to step into your dream home?
Understanding home loan eligibility is the first crucial step in making your homeownership dreams a reality.

What is Home Loan Eligibility?

Home loan eligibility is a pivotal factor in determining whether you can secure a home loan through Impala Fincorp. When you express interest in a home loan, we perform a thorough assessment of your eligibility which involves: involves evaluating your documents, credit score, and financial history. A positive assessment increases your likelihood of getting the desired home loan.

At Impala Fincorp, we guide you through this process, ensuring transparency and clarity. Our aim is to empower you with the knowledge you need to confidently apply for a home loan. Our experts are here to address your queries, explain the criteria, and assist you in making the most of your home loan journey.

How is Home Loan eligibility calculated?

You can check your home loan eligibility by taking into account different factors such as your monthly income, current age, credit score, existing loan obligations (if any), and the years left to your retirement. This helps in deciding the amount of loan you are eligible for.

Home Loan Eligibility Criteria

Impala's Home Loan Eligibility

Impala Fincorp’s priority is to simplify the eligibility assessment process:

  1. Information Gathering: We collect your financial details and requirements.
  2. Analysis: Our experts evaluate your eligibility based on lender-specific criteria.
  3. Customized Solutions: We tailor loan options to match your eligibility and needs.
  4. Guidance: We guide you through the loan application process, making it seamless.

Factors Affecting Housing Loan Eligibility

When you’re considering a home loan with Impala Fincorp, certain crucial factors play a significant role in determining your eligibility.
These factors help us tailor a loan solution that perfectly matches your financial capabilities and aspirations:

Your Monthly Income: is one of the most important aspects of a home loan application process. It helps lenders decide the total amount of loan that you can afford. A higher income often leads to a higher eligible loan amount, ensuring your home dreams become a reality. and vice versa.

Your Current Age: Another important factor that affects your home loan eligibility is your current age. If you are young, then you can opt for a long loan tenure. Since tenure is long your interest rate will be low, which, in turn, will lower your EMI.

Credit History: Your credit history reflects your financial responsibility. A good credit history indicates your commitment to paying your dues and that you have a solid financial state. A good credit history leaves a positive impact on lenders, which increases your chances of getting a home loan.

Existing Loan Obligations: It is to keep in mind that if you have any existing loan obligations, it can impact your housing loan eligibility. These are considered regular monthly expenses that can affect your loan repayment ability. Our goal is to ensure that the loan you take aligns with your capacity to manage your finances effectively.

Regulatory Requirements: The National Housing Bank (NHB) has set a limit that decides the maximum loan amount that can be disbursed based on the property cost. The high-priced homes in the market may have a lower maximum limit while the lower-priced homes may have a higher maximum limit.

Ready to take the Step?

Have any doubts? Talk to our Home Loan Advisor

Frequently Asked Questions

While sanctioning loan to a person, the bank or lending institution does a background check to determine whether the applicant is capable of repaying a loan or not. If capable, then how much loan should be disbursed. This process of the determination of creditworthiness of an applicant is known as home loan eligibility.


Home loan eligibility plays an important role in deciding the total amount of home loan a bank or lender will sanction to you. Here are some ways through which you can improve your chances of getting a home loan:

  • It is advisable to clear off your existing debts
  • Having a stable flow of income is crucial
  • Strengthen your credit score
  • Disclose alternate sources of income
  • Opt for a joint home loan
  • Report promptly for any credit score
  • Don’t login too many times as it may negatively impact your credit score

With Impala, you can check your eligibility in just a few clicks.

  1. Simply click on “Apply Now” and fill in the form with your details
  2. Our team will contact you promptly and understand your requirements and assess your eligibility
  3. This allows us to find the loan option suited best for you amongst various banks and lending sources

Your income or salary is a reflection of your repayment capacity, that directly affects your home loan eligibility. If your in-hand salary (after PF and gratuity deductions) is higher then you get a better home loan deal and if it is lower, it makes it more difficult in procuring the loan.
However, the bare minimum salary for residents of Mumbai, Delhi, Bangalore, Pune, and Chennai is Rs. 20,000/month while for the residents of other cities it is Rs. 15,000/month.

For a salaried applicant the age bracket lies between 18 and 60 years, while for self-employed professionals, it is from 18 to 75 years.

A younger applicant however, have an advantage over older applicants. They can opt for a longer tenure,  which significantly reduces their overall interest rate and EMI.

You must meet certain housing loan eligibility criteria to qualify for a loan.
So, it is advisable to use these requisite to calculate the amount of the loan. Our experts are dedicated to simplify it for you. We save you from the hassle of calculating it by yourself and helps in better planning of repayment schedules.


Impala offers great flexibility not only on the housing loan eligibility but on the total amount of loan disbursed too.

Right from a minimum loan amount of Rs. 10 lakhs you can avail of a loan as high as Rs. 10 crores. However, the total amount of the loan disbursed all depends on your eligibility.


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