Housing Finance Companies (HFCs)/Nationalized Banks usually give home loans for properties located in India to people who are employed or self-employed, with a regular source of income. An individual can apply for a home loan even before the property has been selected. The loan amount is sanctioned based on the ability to repay. This helps in planning a budget while purchasing the house. Loan eligibility is calculated based on the ability to repay. Factors such as income, age, qualifications, number of dependants, spouse's income, assets, liabilities, stability and continuity of occupation and savings history are taken into consideration.