VAK

Loan Calculators


Housing Loan - Self Employed Professional

This calculation is used by banks to determine loan eligibility of Self Employed Professionals (Doctors, Chartered Accountants, Company Secretary, Engineers, Architects, etc.) on basis of income as well as property.

(fill the details as per profit & loss statement)

Business 1

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  • Bankers calculate eligibility on the basis of financial statements from Profit and Loss Account and Balance Sheet for latest two years and property eligibility based on Agreement Value and Market Value of the property.
  • In respect of SEPs, bankers also consider Gross Receipts / Gross Revenue as the traditional Trading and Profit & Loss Account is not prepared in these cases.
  • Net Profit after Tax (NPAT) + Depreciation + Interest paid (reflected in Profit and Loss Account / Income and Expenditure Statement) is considered for calculation.
  • The above amounts are considered for latest two years and average of both amounts is considered.
  • Further, existing EMI is subtracted from the average cash flows.
  • The Net Average Cash Flows are compared with Fixed Obligation to Income Ratio, commonly called as FOIR.
  • In case of Home Loans, Banks can fund maximum 80% of Agreement or Market Value whichever is lower. The ratio to calculate this is called as Loan-To-Value ratio or LTV ratio.
  • The above calculator shows the loan eligibility based on income and EMI on eligible loan amount.