The following are eligible for Home Loan :

Banks determine your eligibility based on your repayment capacity and discuss about the loan amount up front. The eligibility for acquiring a home loan is augmented by clubbing income of your father/spouse/mother/son, by clearing your outstanding debts, by stretching your loan tenure, Salaried individuals can increase their eligibility by showing their performance linked income or bonus earned.
Secondly, Do your own analysis and check the impact of your repayment of home loan on your monthly expenditure, as a thumb rule, it's recommended to make sure the EMI of your home loan do not exceed more than 40% of your gross monthly income.

Interest rates best suited: An important factor that goes into your EMI calculations is the interest rates, which may vary from bank to bank, so do compare them. Also do a complete and detailed analysis of the various options like the interest rates i.e. fixed and floating rate of interest.
Thirdly, if two banks give you the same amount of loan but at different interest rates do your math and work out what's best for you.
Fixed interest loans charge an interest, which remains the same through out the tenure of the loan. This means that the consumer is immune to market risk or the possible upward movement in the interest rates.
Hence, fixed rate is a good option when the home loan interest rates are expected to move up in the future.
As for floating rate loan, a consumer is exposed to market risk and his gain or loss depends on the interest rate condition prevailing in the market. Floating rate is beneficial if the interest rate falls in the future. A floating rate is considered non-transparent and is also known as 'adjustable rate'.