EMI & Buyer Affordability Calculator (Excel)

Buyers arrive with a budget that is really a down payment. Two separate ceilings decide what they can actually borrow, and the lower one wins.

The first is LTV — a percentage of the property's assessed value, not the price you agreed. The second is FOIR — total EMI obligations capped at a share of net monthly income, which an existing car loan eats straight into.

This sheet works out both, plus the EMI, the total interest over the tenure, and the cash needed at purchase once stamp duty and registration are counted. That last number is the one that surprises first-time buyers at the worst possible moment.

What is in the file

• EMI calculated with a real amortisation formula, not an approximation
• Total paid and total interest over the full tenure
• FOIR headroom — the maximum EMI the buyer's income supports after existing obligations, and whether this loan fits inside it
• LTV check — the maximum loan against the property value, and the gap the buyer funds if the two disagree
• Cash needed at purchase — down payment plus stamp duty, registration and fees
• A prepayment sheet showing what reducing the tenure saves versus reducing the EMI

Run it in the first conversation

Not after six viewings. A buyer whose financing collapses two weeks before registry costs you a month, and most of those collapses were predictable at the first meeting.

Then say the thing agents avoid saying

Do not take any new loan or credit card between now and registry. A new EMI wrecks the FOIR calculation and it is the most common self-inflicted deal-killer there is.

Explain the two ceilings

Buyers almost always think about LTV and almost never about FOIR. Showing both on one screen changes the conversation from "how much can I borrow" to "here is the actual number, and here is why".

Rates, LTV bands, FOIR limits and charges vary by lender and change over time. Use this to frame the conversation, then send the buyer to a lender or advisor for the specifics.

Questions

This is a working template, not legal, tax or financial advice. Requirements differ by state and by transaction — have a lawyer and a chartered accountant confirm anything that matters before you or a client rely on it.