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LIC Home Loan Eligibility Calculator

LIC Home Loan Eligibility Calculator is designed to help you check your eligibility for a housing finance program available at LICHFL. The tool basically checks how much amount you can qualify for based on the information you have provided. As you know the maximum loan amount is dependant on your repayment capability, the eligibility calculator is also used to see whether or not you are comfortable to pay back a loan amount with the EMI that it generates.

The factors that are needed to check the eligibility of a borrower include age, whether you are a Resident or non-Resident Indian, Occupation, Monthly Income (spouse’s income can also be included), rate of interest, total cost of property being purchased, monthly savings, loan amount required, and the repayment term. The following paragraphs explore more about the eligibility and document requirements for a LICHFL housing loan.

LIC Home Loan Eligibility Criteria

The loan can be financed to anyone who is in permanent service or have a regular source of income. Apart from the salaried individuals the persons who can be found eligible for a LIC home loan may include businessmen, and self-practicing professionals. It should be noted that if you are buying a property jointly with a person who is related to you by blood you must make him/her a co-applicant. It will indeed be an advantage if your co-applicant is your spouse as the combined income of both of you can be put in an eligibility calculator to qualify for a greater loan amount. An NRI is also eligible to apply for LIC housing loan depending on their fulfillment of the criteria in this regard.

LIC Home Loan Required Documents

The documentation requirements may vary from one category of borrowers to another. However, certain documents must be produced by each and everyone irrespective of the category they belong to or the type of loan they have applied for. Here are the details of all kinds of documents required by LICHFL.

1. Documents compulsorily required by every borrower
a) Completed application form
b) Photo identity proof (such as PAN Card, Passport, or Voter’s ID)
c) Address proof (such as Electricity Bill, Ration Card, or Telephone Bill)
d) Bank Pass-book or the last two years’ statement
e) Power of Attorney, if it is applicable in your case

2. For salaried persons
  • Salary slips for the last six months
  • Form 16
3. For Businessmen or self-employed professionals
  • Income tax returns for the past three years, or Computation of Income and account statements certified by a CA
  • Financial reports for the last three years (P/L account, Balance Sheet, Audit Reports, etc)
You may need to produce an additional set of documents in support of the kind of property you are purchasing. Here are the details:

4. If the property is being purchased from a builder
  • Copy of Agreement of Sale
  • Copy of registration receipt
  • Copies of receipts of payments already made
  • NOC from builders
  • Copy of Sanctioned plan and sanction letter
  • Copy of NA permission or ULC clearance, if applicable
5. In case of a direct allotment in a Co-operative Housing Society, the following documents must be submitted
  • Allotment letter
  • Share certificate
  • Society registration certificate
  • Copy of sale/lease deed in favor of the society
  • NOC from society
  • Copy of Sanctioned plan and sanction letter
  • Copy of NA permission or ULC clearance, if applicable
6. If the direct allotment in a Co-operative Housing Society is made by a Public Agency
  • Allotment letter, Share certificate, Society Registration certificate
  • Lease Agreement
  • Public agency's approved list of members
  • NOC from Public Agency in favor of LICHFL
  • NOC from society
7. If the allotment is made by a Public Agency to individuals
  • Allotment letter from Public Agency
  • Tripartite Agreement between the borrower, LICHFL and the Public Agency in the prescribed format
8. If the purchase is a result of a resale activity, the documents required would be
  • Copy of all previous vendors' registered documents along with copy of your purchase agreement duly stamped and registered and the registration receipt wherever applicable.
  • NOC from Society/Builder
  • Original Share Certificate wherever applicable
Visit the official website of the LICHFL to use the eligibility calculator or find one on this page to start checking your eligibility for the maximum loan amount you could get from LIC Housing Finance or any other housing finance company for that matter.

Home Loan Eligibility Calculator

Interest Rate (Reducing)*

Loan Tenure (in Years)*

Rest Frequency

Annual Rest     Monthly Rest

Applicant Details:

Net Monthly Income*

Other obligation
(Current installment on existing loan, if any)

Co-Applicant Details (if any) :

Net Monthly Income

Other obligation
(Current installment on existing loan - if any)

Loan Eligibility Amount


Calculated Loan Eligibility Amount
Disclaimer: All calculators are developed on certain assumptions which may not be true in your case. You are advised to consult your Bank or Financial Institution for any home loan. Onlineloanhut.com disclaims any responsibility for any decision taken based on these calculators or the information provided herein.