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How much you can borrow, instantly

Mortgage Calculator Ireland

  • Algorithms predict lender scoring
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Mortgage affordability calculator

Finances slide to suit

Type of mortgage
First Time Buyer or Mover/Switcher/BTL
30000
10000300000
Basic salary and fixed allowances before tax (yearly)
0
000100000
commission, bonus, overtime before tax (yearly)
0
05000
loan, child care and maintenance (monthly)
30000
0200000
total saved toward home purchase

About your household

single or joint loan needed
include any financially dependent children or adults

What you may be able to borrow

based on selections made

loan of 3.5 income available

loan of 4.5 income possible

Central Bank limits – Mortgage Calculator Ireland 2022

The first hurdle to clear is the central bank guidelines, all lenders have to conform to these [1]. If the central bank computer says no, then you probably need to do some more work getting mortgage ready.

The first hurdle is the deposit to loan ratio, only 80% of the purchase price can be funded through loans. If you are a first time buyer the good news is this is increased to 90% to help get you on the property ladder. 

The second hurdle is the loan to income ratio, your loan can be no more than 3.5 times your joint income per year. So if your household earns €100,000 a year, your maximum mortgage would be €350,000. 

Don’t despair though, if these limits put your dream home out of reach. The Central Bank also allows lenders a quota of exceptions outside the rules above, read on to find out more.

Exceptions – Mortgage Calculator Ireland 2022

As the lenders only have a limited amount of exceptions, they want to parcel them out to the ‘best’ customers. If you are a lender this means customers with higher disposable income, as that generally means a larger mortgages that have very high odds of being paid back. 

To get an exception then the secret is to maximise the gap between your income after tax and your financial commitments. We give you the inside track as to how the banks measure this below.

Watch out though, exceptions are a double edged sword. As well as stretching your finances to the limit. They often run out early in the year and can be withdrawn leaving your home purchase stranded. 

Credit policy – Mortgage Calculator Ireland 2022

Above and beyond the central bank limits, each lender has their own credit policy, which they use to approve both exceptions and loan applications. 

These policies though boil down to the same thing. How likely are you to pay back the mortgage?

The way the lenders assess this is to look at how much cash you have over after you have made your repayment. This gives them an idea of how much wriggle room you have if interest rates rise or your financial circumstances change.

In general only regular income after tax is counted, although some lenders factor in bonuses and overtime etc.. at a discount.

The secret though is cutting back your committed outgoings. These are loans, childcare or if you are divorced or separated your monthly maintenance.

Also the more family members you have the higher the level of disposable income you will need.

Mortgage calculators – Mortgage Calculator Ireland 2022

You can also use our other mortgage tools to help you get mortgage ready. Check out our

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Daire McConnon - mortgage sherpa lead

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They will help you borrow, find you the best deal and make the paperwork painless.

Best of all, they are free as they are paid for by the lenders.

Check out our reviews

Angie - Mortgage Sherpa
Angie - Mortgage Sherpa
Louise Winters - Mover
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Very helpful, knowledgeable, friendly & efficient staff. Would highly recommend!
Angie - Mortgage Sherpa
Angie - Mortgage Sherpa
David O'Hanlon
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Angie was amazing! Looked after us so well. Would definitely recommend for anyone looking a mortgage.
Daire - Mortgage Sherpa
Daire - Mortgage Sherpa
Sandra Chubb - Switcher
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They were really friendly, gave me independent advice and helped me pull together the paperwork. Most people don't realise they are in a position to save so much by switching
Petrina - Customer Sherpa
Petrina - Customer Sherpa
Eamonn Dunne - Switcher
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Easy to use web app instead of email really helped. Would definitely recommend moneysherpa for your mortgage.
Martina - Document Sherpa
Martina - Document Sherpa
Gladys Cerbolles - Switcher
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Martina is very helpful all throughout the mortgage process.
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Customer Testimonials

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