Your employment status can significantly impact the maximum home loan amount you qualify for. Here are the key factors:

• Salary Income: Banks typically limit home loans to 3-4 times one's annual salary income. Those earning higher salaries thus tend to qualify for larger loan amounts, all else equal.



• Stability: Employees with longer tenure and a stable job are viewed more favorably by banks. They consider them lower risk. This can increase their maximum eligible loan amount.



• Self employed: Those self employed or running their own businesses typically qualify for smaller loan amounts, around 2-3 times their annual income. Banks see them as higher risk.



• Pension income: Retirees with a regular pension income can also qualify for home loans. However, banks limit the loan amount based on the pension amount, not past salary.



• Job loss risk: Banks try to assess the risk of an applicant losing their job during the loan term. Those in stable professions and industries are viewed as lower risk.



• Co-applicants: Banks may consider the income of a co-applicant spouse or family member to determine the total eligible income and maximum loan amount.



• Asset backing: Some self-employed or retired applicants can use other assets like investments, provident funds, or business assets as a backup to qualify for larger loans.