Mortgage How Much Can I Borrow?

Loading - Please wait

(One moment)

Calculate how much you can borrow 

Enter your details in the mortgage calculator to estimate the maximum mortgage you can borrow. After performing the calculation, you can transfer the results to our mortgage comparison calculator where you can compare all the latest mortgage rates.

How much can you borrow?

First time buyers maximum mortgage level is 4 times your gross annual income with the mortgage capped at 90% of the purchase price.

 For example, if your gross salary is €80,000, the maximum mortgage would be €320,000. This calculator gives you an estimate of the maximum amount you will be able to borrow. 

Second time buyers maximum mortgage is 3.5 times gross income with a cap also of 90% of the purchase price,

We look forward to looking after you

Most home buyers use a combination of mortgage facilities and savings or help to buy schemes to buy their new home.

First time buyers can take out a mortgage of up to 90% of the purchase price of a home.

When arranging mortgages we need to satisfy lenders that can comfortably afford the repayments on the mortgage. In this regard we look at evidence of consistent savings and also history of rental payments.

Costs associated with getting a mortgage

Mortgage adviser fees - Here at Mortgages.ie we do not charge brokerage fees to home buyers

Stamp Duty  1% of the purchase price

Legal Fees €2,500 A typical budget including various taxes and duty 

Valuation fees €150

Surveyor fees €400 -Not compulsory but highly recommended 

On going costs after you move in

Your mortgage payment

Property tax .18% of the purchase price

Home insurance €35 per month estimate for new 3 bed houses 

Mortgage Protection click Get a quote for your mortgage protection quote

Mortgage exceptions

The limits imposed on lenders when providing mortgage facilities fall into two categories, income limits and deposit limits.

These limits were set by The Central Bank of Ireland under macro prudential regulations. The rationale behind the rules is to ensure that consumers act prudently when borrowing, lenders act cautiously when lending and also to assist in the control of house price inflation

How much can I borrow? 

You can now borrow up to 4 times your gross income. Your income is calculated by taking your basic income plus 50% of your average bonus's and other non-guaranteed income (if this is applicable to you). This figure is generally calculated by taking an average of this non-guaranteed income over the previous three years, and then allowing 50% of the average into the calculation. 

Can the minimum deposit rules be exceeded?

Central Bank deposit rules require a 10% deposit for first time buyers and second time buyers.

With the new help to buy scheme for first time buyers of new houses apartments and self builds, a tax rebate of 10% ( upper limit of €30,000 ) of the purchase price is potentially available on properties costing €500,000 or less.First time buyers buying second hand houses cannot avail of this scheme..