My net take home monthly salary is 42,000. How much home loan can i get?



i have no other loans and my age is 25. Considering these things, upto how much loan amount can i get?
i have no other loans and my age is 25. Considering these things, upto how much loan amount can i get?
i have no other loans and my age is 25. Considering these things, upto how much loan amount can i get?

7 Replies to “My net take home monthly salary is 42,000. How much home loan can i get?”

  1. It really depends on your other expenses, car , credit cards, medical insurance, child support or alimony (NOT GAS/FOOD OR UTILITIES OR FUN) AFTER all that is deducted, the general calculation is one third of the remaining amount can be allowed for mortgage expenses. How to use that amount to figure the end loan amount is easy. Every 500$ in payments amounts to $100,000 borrowed.



  2. If you make 42K a month….why on EARTH would you need a home loan?!!

    P.S. I need a sugar-daddy….even if you are 5 years younger.


  3. Let’s see, this is a tough one. 42k a month, hmmm. I suppose you could go to California and buy a 2 bedroom 1 bath house in Compton, OR, you could buy a 3 bedroom 2 bath house on the east coast, but then you’d have to take out a 2nd mortgage to pay the property taxes, OR, you could go to Arkansas and buy a 3.5 million dollar estate on 40 acres with a fishing pond and horses, live-in maid and gardener. If you meant $4200 a month-that’s a very good income and will get you into a $200k + house. (see above)




  4. Maximum 55% of the salary will betaken as repayment capacity. In your case it is around 23,000/- Since there is no other loan, you may get around 25 lakhs.





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