Mortgage How Much Can I Borrow?
See What You Could Borrow With Our Mortgage Calculator
Working out how much you can borrow is the very first step in buying a home, long before you view a property or sit down with a lender. Our mortgage calculator gives you that number in under a minute. Tell us whether you're a first-time buyer or a home mover, enter your income, and you'll see the maximum mortgage you could borrow, the minimum deposit you'll need, and the property price that brings a home within reach. You can also increase your deposit to see how much further that stretches your buying power.
How Much Can I Borrow?
| Property Price Based on your mortgage plus your deposit. A larger deposit increases this figure. | — |
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This is an estimate based on current Central Bank of Ireland lending rules. The amount you can borrow may differ depending on the lender and your individual financial circumstances.
Your maximum mortgage isn't necessarily your ideal mortgage. The figure above shows what you could potentially borrow under the standard lending rules. Your actual lender may offer less depending on your income, outgoings and circumstances, and you may decide you'd rather borrow less to keep your monthly repayments comfortable.
What's Covered In This Guide
- How much can you borrow in Ireland?
- How much could you borrow on your salary?
- A quick worked example
- Is there any wiggle room on the limits?
- The most you can borrow isn't always what you should borrow
- What else affects how much you can borrow?
- Real-life examples
- The other costs of buying a home
- How to get mortgage-ready
- How to boost your buying power
- Next steps
- Frequently asked questions
How much can you borrow in Ireland?
How much you can borrow is set by lending rules from the Central Bank of Ireland, so the maximum is broadly the same wherever you apply. There are two limits to be aware of. One is based on your income: first-time buyers can borrow up to four times their gross annual income, while home movers and other second-time buyers can borrow up to three and a half times. The other is based on the property price. For both first-time buyers and movers, you can borrow up to 90% of the purchase price, which means you need a deposit of at least 10%.
Here's how that looks at a glance:
| Buyer type | Income limit | Max loan-to-value | Minimum deposit |
|---|---|---|---|
| First-time buyer | 4 × gross income | 90% | 10% of the price |
| Home mover / second-time buyer | 3.5 × gross income | 90% | 10% of the price |
| Buy-to-let investor | Assessed on the rental case | 70% | 30% of the price |
If two of you are buying together, the income limit applies to your combined salaries, so a couple can usually borrow more than either of them could alone.
One thing worth knowing is that lenders don't always count every euro of your pay the same way. Your basic salary is counted in full, but variable income such as bonuses, overtime and commission is usually only partly included, often around half of the average over recent years. Some lenders count more, some less. And if you're carrying loans, credit-card balances or other regular commitments, a lender may offer you less than the headline multiple suggests.
How much could you borrow on your salary?
Here's what the standard income limits could mean for your maximum mortgage, based on four times income for first-time buyers and three and a half times for home movers. If you're buying with someone else, use your combined income.
| Gross income | First-time buyer (4×) | Home mover (3.5×) |
|---|---|---|
| €40,000 | €160,000 | €140,000 |
| €50,000 | €200,000 | €175,000 |
| €60,000 | €240,000 | €210,000 |
| €70,000 | €280,000 | €245,000 |
| €80,000 | €320,000 | €280,000 |
These are the maximums the lending rules allow rather than a guaranteed offer, and they don't include your deposit. For your own figure, pop your income into the calculator above.
A quick worked example
Say you're a first-time buyer earning €60,000 a year. Four times your income gives a maximum mortgage of €240,000. Because that mortgage can cover up to 90% of the price, the property price it reaches is €240,000 divided by 90%, which is €266,667. The remaining 10% is your deposit, so €26,667. In other words, the deposit isn't an extra cost bolted onto the mortgage, it's the 10% slice of the price the mortgage doesn't cover.
The deposit is also the lever you control. If you'd saved a €40,000 deposit instead of the €26,667 minimum, and still qualified for the full €240,000 mortgage, your property budget would rise to €280,000. Every extra euro of deposit is an extra euro of buying power on top of your mortgage, which is why you can increase the deposit figure in the calculator to see your budget move.
Is there any wiggle room on the limits?
Yes, a little. The Central Bank allows lenders to go above the income limits for a share of their new lending each year, and these are known as exemptions. In practice, a portion of first-time-buyer lending can go above four times income, commonly up to around four and a half times, and a similar allowance exists for second-time buyers above the 3.5 times cap. For example, a first-time buyer earning €60,000 could normally borrow up to €240,000, but with an exemption at four and a half times income that could rise to around €270,000. Whether it's offered, and by how much, comes down to the lender and your circumstances.
To be considered, lenders will look closely at your income stability, your repayment history on any past loans or credit cards, your existing debts, and your ability to comfortably meet the higher repayments. Two caveats are worth remembering. Just because the Central Bank permits an exemption doesn't mean a lender has to offer you one, because each bank sets its own policy. And lenders often use up their exemption allowance in the early months of the year, so by the time you apply they may be gone. If you think you'll need to borrow above the standard limit, it's worth talking to a lender or broker early.
The most you can borrow isn't always what you should borrow
The 4× and 3.5× figures are limits, not recommendations. The calculator shows the ceiling the rules allow, but the right number for you also depends on your day-to-day life: childcare, car finance, utilities, and how comfortable the repayments would still feel if interest rates rose. Someone earning €70,000 might see a €280,000 mortgage and read it as their budget, when a smaller loan could sit far more easily alongside everything else they pay for. It's always worth asking not just what you can borrow, but what you'll be comfortable repaying for the next 25 or 30 years.
What else affects how much you can borrow?
The calculator gives you the maximum the rules allow. When you come to apply for real, a lender will look at your wider circumstances to decide how much they're comfortable lending. Your age can affect the maximum term you're offered, and therefore your repayments. Dependent children come with costs a lender will factor in. So will existing commitments like personal loans, car finance, credit-card balances, Buy Now Pay Later agreements, childcare and maintenance payments. None of this means you'll automatically borrow less, as plenty of people reach the full multiple, but the more room you leave in your monthly budget, the stronger your application looks.
Real-life examples
Sarah earns €55,000 and is buying her first apartment in Dublin on her own. At four times income, she can borrow up to €220,000. She's saved €30,000, which covers the 10% minimum deposit of €24,444 with a little to spare, so she puts the full amount in and brings her budget to €250,000.
John and Aoife are trading up in Carlow. With a combined income of €110,000, they can borrow three and a half times their income as second-time buyers, which comes to €385,000. With the equity from their current home going in as a deposit, they're comfortably above the 10% minimum, which gives them real choice on their next property.
Our Expert Tip
"If you're stretching to borrow the maximum, focus on the numbers you can still control. For first-time buyers, Help to Buy and the First Home Scheme can add tens of thousands to your deposit without adding a cent to your repayments. And when you compare lenders, weigh up cashback too, not just the rate, a good cashback offer can cover your solicitor, survey and moving costs. Check what you qualify for before you set your budget."
Director of Sales and Operations, Chill
The other costs of buying a home
Your deposit and mortgage are the big numbers, but they aren't the only ones, so it pays to budget for the rest and avoid any nasty surprises. Stamp duty is charged at 1% of the purchase price on homes up to €1 million, and 2% on any portion above that. A solicitor handles the conveyancing, and legal fees are rarely below around €2,000. A pre-purchase survey typically costs somewhere in the region of €500 to €750 for a standard house or apartment, and is money well spent. Your lender will also require a valuation before releasing funds, which carries a modest fee.
Two of these costs are not optional, and both are areas where Chill can help. Mortgage protection is a life insurance policy that clears your mortgage if you die, and it's a legal requirement that must be in place before your mortgage draws down. Home insurance is also required once you own the property, protecting the building itself and the belongings inside it. Chill compares mortgage protection and home insurance from a range of insurers, so you can line up the right cover without doing the legwork yourself.
Add these together and it's clear why it pays to budget beyond the deposit itself: between stamp duty, the solicitor, the survey, the valuation, mortgage protection, home insurance and the cost of actually moving, the extras can run to several thousand euro on top of the price of the home.
How to get mortgage-ready
A few months of preparation can be the difference between a yes and a not yet, and often a better interest rate too. Start by checking your credit record, which you can request for free from the Central Credit Register, and clear any arrears before you apply. Pay down what debts you can, because outstanding loans, credit cards and car finance all reduce what a lender will offer, and keep every payment up to date. Lenders like to see that your mortgage and related costs won't swallow your income and that there's a healthy cushion left in your account each month, so trimming your outgoings in the run-up helps.
A steady savings record matters just as much, since it proves you can handle regular repayments, and the bigger your deposit the smaller the mortgage you'll need. It's usually best not to change jobs right before you apply, as lenders prefer a stable employment history. When it comes to paperwork, you'll need proof of ID, address and income, along with at least six months of bank statements, and tidy statements help your case. Regular money moving in or out of betting apps, for instance, can raise questions. Finally, give yourself room on the extra costs. Whatever you think the fees will come to, it's safer to budget a little above it.
How to boost your buying power
If the numbers are close but not quite there, a few things can help stretch your budget. Help to Buy is a tax rebate for first-time buyers of new-build or self-build homes, worth up to €30,000, which can go towards your deposit. It applies to new homes only, not second-hand properties. The First Home Scheme is a shared-equity scheme that can bridge the gap between your deposit-plus-mortgage and the price of a new home, subject to regional price limits. There are also Local Authority options, including the Affordable Purchase Scheme and the Local Authority Home Loan, for eligible buyers on modest incomes.
Some lenders offer cashback at drawdown, which can help cover your early costs, though it's always worth weighing that cashback against the interest rate over the life of the loan. And the simplest lever of all is a bigger deposit, since every extra euro saved is an extra euro of property you can afford.
Next steps
Know what you can borrow? Here's the natural order of what comes next in the home-buying journey:
You can also compare current mortgage interest rates from Irish lenders using the CCPC's independent comparison tool.
Frequently asked questions
How much can I borrow as a first-time buyer?
Up to four times your gross annual income, with a mortgage of up to 90% of the property price, so you'll need a deposit of at least 10%.
How much can I borrow as a home mover?
Up to three and a half times your gross income, again capped at 90% of the price with a 10% minimum deposit.
How much can I borrow on a €50,000 salary?
A first-time buyer on €50,000 could borrow up to €200,000 at four times income, while a home mover could borrow up to €175,000 at three and a half times. If you're buying with someone else, the multiple applies to your combined income.
How accurate is the calculator?
Treat it as a reliable guide to your maximum rather than a guarantee. It's based on the Central Bank's lending rules, but a lender will also weigh up your outgoings, existing debts, credit history and personal circumstances when you apply.
I get bonuses or I'm self-employed, how should I enter my income?
Enter your gross annual income. Bear in mind that lenders usually count variable income like bonuses, overtime and commission only in part, and will look at your recent earnings history, so your final figure with a lender may differ.
How big a deposit do I need?
At least 10% of the purchase price for both first-time buyers and movers. You can put down more to increase your buying power, and schemes like Help to Buy can contribute to a first-time buyer's deposit on a new build.
Can I borrow more than four times my income?
Sometimes. Lenders have a limited allowance to lend above the standard limits to strong applicants, but it isn't guaranteed and the allowance can run out during the year. Talk to a lender or broker early if you think you'll need it.
What's the next step if I'm happy with the numbers?
Work out your likely monthly repayments with our repayment calculator, get your paperwork in order, and speak to a lender or broker about approval in principle.
