How much can I borrow for a mortgage in Ireland?

The Central Bank of Ireland caps borrowing at four times gross income for first-time buyers and 3.5 times for second and subsequent buyers. The tool applies the lower of your loan-to-income limit and the 90% loan-to-value limit to show your maximum loan.

What deposit do I need in Ireland?

First-time and second-time buyers of a home generally need at least a 10% deposit, since the loan-to-value cap is 90%. Buy-to-let purchases require a larger deposit, usually 30%. A bigger deposit can also unlock a better interest rate.

What is the loan-to-income rule?

The loan-to-income (LTI) rule limits your mortgage to a multiple of your gross annual income: 4 times for first-time buyers and 3.5 times for others. Lenders can grant a limited number of exceptions each year, but most loans must fit within the cap.

How is the monthly repayment worked out?

The tool uses the standard amortising mortgage formula, where the payment is the loan times the monthly rate divided by one minus (one plus the monthly rate) to the power of minus the number of months. Early payments are mostly interest and later ones mostly principal.

Does this calculator store my figures?

No. Everything runs in your browser with JavaScript. None of the figures you enter are uploaded or saved anywhere.

Ireland Mortgage Calculator

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This Ireland mortgage calculator shows your monthly repayment and total interest while checking the two Central Bank of Ireland rules that decide how much you can actually borrow: the loan-to-income cap and the loan-to-value (deposit) cap. Everything runs in your browser.

How it works

Two macroprudential limits set your maximum loan, and the lower one binds:

Loan-to-income (LTI). First-time buyers can borrow up to 4× gross income; second and subsequent buyers up to 3.5×. The tool computes your maximum as income × cap.
Loan-to-value (LTV). Home buyers need at least a 10% deposit, so the loan cannot exceed 90% of the price. The tool computes price × 90%.

Your maximum loan is the smaller of the two. The monthly repayment then uses the standard amortising formula:

M = P × r / (1 − (1 + r)^−n)

where P is the loan, r is the monthly rate (annual ÷ 12), and n is the number of months. The tool flags whichever rule, if any, your inputs breach.

Example

A first-time buyer earning €75,000 buying at €350,000 with a €40,000 deposit needs a €310,000 loan. That is 4.13× income — just over the 4× cap — and the LTV is about 88.6%, within the 90% limit. So the LTI rule binds, and the maximum loan without an exception is €300,000.

Notes

This is an estimate using the Central Bank rules and a fixed rate. Lenders also run their own affordability and stress tests, and a limited number of LTI/LTV exceptions are granted each year. Help to Buy, mortgage protection insurance, valuation, and arrangement fees are not included. Confirm with a mortgage adviser.