Check your banking approval status and estimate your maximum eligible borrowing principal using the FOIR underwriting method.
Before disbursing housing, auto, or personal capital, banks evaluate your borrowing limits using **Loan Eligibility** parameters. This credit check determines the maximum principal you are cleared to receive without default risks. To compute general amortized payments, try our EMI Calculator or evaluate total finance charges with the APR Calculator.
Lenders assess credit eligibility primarily using the **Fixed Obligation to Income Ratio (FOIR)**. Unlike standard debt ratios, FOIR represents the maximum percentage of your income that can be allocated to all fixed obligations (such as rent, card debt, and the new EMI). Most commercial banks limit the maximum FOIR to **50%**, meaning at least half of your income must remain free for general living costs.
For official information on lending disclosures and qualified mortgage rules, visit the Consumer Financial Protection Bureau (CFPB).
Adding a co-applicant (such as a spouse or parent) pools your gross incomes, raising the maximum disposable cash and boosting your loan eligibility. To check how much you can afford to pay monthly, try the Loan Affordability Calculator. For vehicle finance, see the Bike Loan Calculator or check general schedules with the Loan Calculator.