About this calculator
Irish mortgages are annuity loans: a fixed monthly repayment that starts out mostly interest and ends mostly capital, over terms of up to 35 years. Most borrowers fix the rate for one to five years and then roll onto a variable rate or a new fix — so the rate you enter here is best read as the average you expect to pay, and the amortisation table shows the balance path if it held for the whole term.
Two Central Bank rules frame every Irish application. The loan-to-value cap limits a principal-home mortgage to 90% of the price, whoever you are. The loan-to-income cap then limits the loan itself to 4 times gross income for first-time buyers and 3.5 times for second and subsequent buyers — the affordability calculator in this section tests both. Stamp duty is the buyer’s other big upfront cost: since 2 October 2024 Revenue charges 1% on the first €1 million, 2% on the slice to €1.5 million and 6% above that. On a new home the duty is charged on the price excluding VAT (13.5% on houses; 9% on qualifying apartments since October 2025), which is why the property-type selector matters.
How to use it
- Enter the price and say whether it is a second-hand home or a new build (new homes are taxed on the VAT-exclusive price).
- Set the loan-to-value — the Central Bank caps principal-home lending at 90%, so the deposit is at least 10%.
- Enter the interest rate and term to see the monthly repayment and the year-by-year balance.
- Read the upfront cash line: deposit plus stamp duty is the cheque you need before solicitor’s fees and other closing costs.
The formula
The repayment is the standard annuity formula used by every Irish lender. Stamp duty is marginal — each slice of the price is charged at its own band rate, so a €2 million home pays €10,000 + €10,000 + €30,000 = €50,000, an effective rate of 2.5%, not 6% of the whole price. The 6% band was added by Budget 2025 for instruments executed on or after 2 October 2024; before that the top band was 2%.
Worked example
A €380,000 second-hand home at 90% LTV is a €342,000 mortgage and a €38,000 deposit. At 3.9% over 30 years the repayment is €1,613.11 a month and the total interest over the term is €238,718. Stamp duty at 1% adds €3,800, so the upfront cash before legal fees is €41,800. Buy the same home new and the duty falls, because it is charged on the price excluding 13.5% VAT: €334,802 of taxable value, €3,348 of duty.
Sources: Central Bank of Ireland mortgage measures (LTI 4.0× first-time buyers / 3.5× second and subsequent, LTV 90% principal home / 70% buy-to-let) and Revenue residential stamp duty bands in force for instruments executed on or after 2 October 2024. Last updated: October 2026.
Frequently asked questions
What deposit do I need for an Irish mortgage?
At least 10% of the price for a home you will live in: the Central Bank’s LTV limit is 90% for first-time and second buyers alike since January 2023. Buy-to-let is capped at 70%, so investors need 30%. Lenders can exceed the caps on a limited share of their lending (a 15% flexibility allowance for principal homes), but you should plan on the standard limits.
How much can I borrow on my salary?
The loan-to-income limit is 4 times gross annual income for first-time buyers and 3.5 times for second and subsequent buyers — a couple earning €90,000 between them can borrow up to €360,000 as first-time buyers. The affordability calculator in this section runs the LTI and LTV tests together and shows which one binds.
Why is stamp duty lower on a new home?
Because Revenue charges the duty on the consideration excluding VAT. A new house is sold with 13.5% VAT in the price, so a €400,000 new house is taxed on €352,423 — €3,524 of duty instead of €4,000. New apartments in qualifying blocks carry 9% VAT since 8 October 2025, so the same €400,000 apartment is taxed on €366,972 (€3,670 of duty). Second-hand homes have no VAT, so the full price is taxed.
Is there first-time buyer stamp duty relief in Ireland?
No — unlike the UK, Ireland has no first-time buyer exemption or discount on stamp duty; everyone pays the same bands. First-time buyer support comes through other channels instead: the Help to Buy tax refund (up to €35,000 on new homes) and the First Home Scheme’s shared equity, both covered by calculators in this section.
What about the 15% stamp duty rate I have read about?
That is the section 31E bulk-purchase rate: anyone who buys ten or more houses (apartments excluded) within a 12-month period pays a flat 15% on those purchases. It is aimed at institutional bulk buying of family homes and does not affect an ordinary purchase of one home — the stamp duty calculator in this section includes it as an option so the contrast is visible.
What formula does this mortgage calculator — ireland calculator use?
Monthly payment = P × r ÷ (1 − (1 + r)^−n), with r = annual rate ÷ 12 and n = years × 12; stamp duty = 1% of the first €1m + 2% of the slice to €1.5m + 6% of the rest (on the VAT-exclusive price for new homes) The repayment is the standard annuity formula used by every Irish lender. Stamp duty is marginal — each slice of the price is charged at its own band rate, so a €2 million home pays €10,000 + €10,000 + €30,000 = €50,000, an effective rate of 2.5%, not 6% of the whole price. The 6% band was added by Budget 2025 for instruments executed on or after 2 October 2024; before that the top band was 2%. The worked example on this page applies the formula step by step with real numbers, so you can verify the result by hand.