What is an income eligibility calculator?

Opting for a home loan has become a common phenomenon in today’s time. All the banks and NBFCs that provide the option of home loans have their income eligibility calculator that allows the applicant to calculate the eligibility quotient of the applicant for a particular loan that he/ she wishes to apply for. The person needs to add some specific details like the salary, location of residence, type of employment and similar other things.