The Economic Times

Think a Rs 1 lakh salary means a Rs 60 lakh home loan? CA explains what banks actually check

A Rs 1 lakh monthly salary does not automatically mean you can get a Rs 60 lakh home loan, CA Nitin Kaushik explained. Banks assess factors including FOIR, existing EMIs, credit score, loan tenure, employment stability and property value. LTV limits can also cap the loan amount. For self-employed borrowers, reported income in ITRs over multiple years can influence eligibility.