Try Out Our Mortgage Calculator!
Enter your loan amount, interest rate, and mortgage term to estimate your monthly repayments, total cost, and interest.
Loan Amount
Interest Rate
Loan Term
Total Repayment
Total Interest
Original Loan
Enter a loan amount and term above to see your estimated repayments.
This calculator provides estimates based on a standard annuity mortgage with fixed monthly repayments. Actual repayments may vary depending on your lender, fees, and whether you choose a fixed or variable rate. Speak to a mortgage adviser for personalised guidance.
How Is My Mortgage Calculated?
There are three primary components that determine your mortgage:
- Loan-to-Value — The loan-to-value is how much you actually borrow as a percentage of the house value. For example, a €200,000 house at 90% LTV means you can borrow €180,000.
- Interest Rate — Typically 3% or higher. Fixed rates are available for 1–10 years in Ireland. Banks use the interest rate to manage lending risk.
- Deposit — Banks rarely lend 100% of property value. First-time buyers need a minimum of 5%, while buy-to-let may require up to 40%. Mortgages are secured loans against the home value.
Mortgage Breakdown Example
| Detail | Amount |
|---|---|
| Total house price | €200,000 |
| Deposit required (20%) | €40,000 |
| Loan amount | €160,000 |
| Loan term | 30 years |
| Interest rate (fixed) | 3% |
| Total interest paid | €82,843.92 |
| Total repayment | €242,843.92 |
| Monthly payment | €674.57 |
How Much Can I Borrow for a Mortgage?
The main thing mortgage lenders will look at is your salary. Lenders assess your financial stability to ensure you can repay the loan, reviewing your complete financial circumstances for long-term viability over 25–40 years.
What Is Mortgage Borrowing?
Mortgages are long-term loans enabling home purchases when individual savings are insufficient. Extended repayment periods of 25–40 years make homeownership accessible to a wider range of people.
Calculate How Much I Can Borrow
Enter your annual salary, property value, deposit, and loan details. In Ireland, you can typically borrow up to 3.5 times your annual gross income.
Annual Gross Salary
Property Value
Your Deposit
Loan Term
Interest Rate
Borrowing Needed
Deposit Percentage
Monthly Repayment
Your borrowing allowance covers the amount needed. You can afford this property.
Enter your salary and property details above to see how much you can borrow.
Based on the Central Bank of Ireland's 3.5× income lending limit for standard borrowers. Monthly repayment is calculated using a standard annuity formula on the amount needed (property value minus deposit). Actual borrowing limits may vary based on your lender, credit history, and financial circumstances.
What Affects How Much I Can Borrow?
Monthly Salary
Your lender might require that your mortgage repayments are below a certain percentage of your salary. Typically in Ireland, you can only borrow up to 3.5 times your annual salary. If over 50% of your salary would go towards mortgage repayments, this raises affordability concerns with lenders.
Job Stability
Long-term employment contracts are preferred. Consistent income demonstrates repayment reliability, and full-time positions increase approval likelihood.
Job Type
Full-time contracts are strongly preferred. Temporary or part-time positions face approval challenges. Income stability is critical for lenders.
Does My Deposit Affect How Much I Can Borrow?
Deposit Amount: Larger deposits may enable borrowing beyond property value, potentially covering repair or renovation costs. Smaller deposits limit borrowing to the purchase price.
Deposit Source: Self-saved deposits receive better terms from lenders. Gifted deposits require a "gifted deposit letter" from the donor. Lenders scrutinise deposit origins carefully.
How Much Can I Borrow as a First-Time Buyer?
First-time buyers benefit from dedicated schemes offering lower deposits and property value discounts. Available schemes in Ireland include:
- Help to Buy Scheme (HTB)
- Affordable Housing Scheme
- Rebuilding Ireland Home Loan
- Mortgage Allowance Scheme
- Shared Ownership Scheme
- Rent to Buy
- Mortgage Interest Relief
What About Extra Mortgage Fees?
Beyond the deposit, additional expenses include solicitor fees, conveyancing costs, and insurance.
Stamp Duty
Non-first-time buyers on properties exceeding €1,000,000 pay full stamp duty rates. Tax increases proportionally with property value, calculated as a percentage addition to the purchase price. Check our Stamp Duty Guide!
Solicitor and Conveyancer Fees
Legal professionals ensure lawful home purchases and updated contract exchanges. Billing occurs post-completion but represents essential purchase costs. Read more about finding a solicitor.
Mortgage Protection Insurance
Taking out mortgage protection insurance is a must to ensure your repayments will be made in case you pass away. Premiums depend on your health, mortgage balance, and other factors.
Frequently Asked Questions About How Much You Can Borrow
You might be able to borrow more if you get a joint mortgage to pay for a house with more people. Joint ownership or tenants in common arrangements require income proof from all borrowers, potentially increasing total borrowing capacity.
Self-employment should not negatively impact applications if income remains steady and the business demonstrates good protections. However, income fluctuations may result in penalties from lenders.
Monthly outgoings affect borrowing capacity since bill expenses reduce mortgage repayment ability. Consider gas and electricity, water supply, broadband, waste collection and other subscriptions. Credit card debt and outstanding liabilities should be addressed before application.
Beyond salary, credit scores significantly impact borrowing amounts. Better scores enable larger loans. To improve your credit score: pay bills on time monthly, consistently pay credit card debt, maintain balances below credit limits, and check your credit file for errors.
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