How much can I borrow for a mortgage?
Mortgage calculator that shows that min and max you could borrow
Calculate your borrowing power
Finding out how much you can borrow is the exciting first step on your journey to buying a home. It helps you understand your budget and focus your property search. Our mortgage calculator is designed to give you a quick and reliable estimate based on the Central Bank of Ireland’s lending rules. Use it to get a strong indication of your borrowing power in just a few moments.
Mortgage Affordability Calculator
Input your gross annual salary and additional income in the relevant boxes for you and the joint applicant (if any) and press calculate. The calculator will calculate two results (based on your income inputs) – the minimum and maximum amount you could borrow.
Note: This mortgage calculator is provided for illustrative purposes only and does not constitute a loan application, offer, or financial advice. The results are estimates based on the information you provide and may not reflect actual loan terms or repayments.
Understanding your estimate: Why this is not a final figure
It’s crucial to understand that this calculator provides an estimate based on standard lending rules, primarily the Loan-to-Income (LTI) limits set by the Central Bank of Ireland. For most first-time buyers, this is up to 4 times your gross annual income, and for second-time buyers, it’s 3.5 times. However, this is only a guideline. The final amount you can borrow depends entirely on which lender you approach, as each bank has its own unique set of lending criteria and internal policies. This is where an expert mortgage broker becomes your most valuable asset.
The Broker advantage: How we find the lender that's right for you
At JC Mortgage Brokers, we know that every mortgage application is unique. We also know that every lender assesses applications differently. Our job is to match your specific circumstances to the lender who will view your application most favourably.
Here’s how we can make a real difference:
| Variable Income: | Employment Type |
| Some lenders may only accept 50% of your bonus or overtime, while others might consider more. We know which lenders will give you the most credit for your hard work. | Being a contractor or recently self-employed can be a challenge with some banks. We navigate these complex policies to find lenders who understand and cater to your employment status. |
| Financial HIstory: | Securing Exceptions: |
| A minor blemish on your credit history might be an automatic ‘no’ from one bank but can be understood and accepted by another. We know who to talk to. | A limited number of mortgage exceptions are available each year, allowing certain borrowers to exceed the standard LTI limits. With our whole-of-market access, we are perfectly positioned to help you apply for one if you are a suitable candidate. |
Other factors that influence your mortgage application
Beyond your income, lenders will look at your overall financial health to assess your application. Key factors include:
- Deposit: You will need a minimum deposit of 10% of the property’s purchase price.
- Repayment Capacity: Lenders need to see that you can comfortably afford the repayments. A consistent history of saving and managing rent payments is excellent proof of this.
- Existing Loans: Any current financial commitments, like car loans or credit card balances, will be factored into what you can afford to repay each month.
- Credit History: A clean credit report is essential to show lenders you are a reliable borrower.
FAQs - How much can I borrow for mortgage calculator?
As a guideline, first-time buyers can typically borrow up to 4 times their gross annual income. For second-time buyers, the limit is generally 3.5 times gross annual income. This calculator gives you a good estimate based on these rules.
Yes, but how they are treated varies by lender. Most banks will consider 50% of your average, non-guaranteed income (like bonuses or commission) over the last few years. We can advise which lender will be most generous for your situation.
The two main rules are the Loan-to-Income (LTI) limit, which caps borrowing at 4 times your income, and the Loan-to-Value (LTV) limit, which requires you to have a minimum deposit of 10% of the property price.
A calculator uses the general Central Bank rules. It cannot account for the specific, internal lending criteria of each individual bank, which can vary significantly based on their assessment of risk and your personal circumstances.
By having access to major lenders in the market, we know which ones are more favourable for certain applicants (e.g., self-employed or those with variable income). We can also identify opportunities to apply for an exception to the standard lending rules, potentially increasing your borrowing capacity.
You should budget for additional costs which typically include:
- Stamp Duty (1% of the purchase price)
- Solicitor’s legal fees (approx. €2,500-€3,000)
- Lender’s valuation fee (approx. €150)
- Surveyor’s report (approx. €400-€500), which is highly recommended.
Ready for an accurate mortgage assessment?
Your calculator estimate is the starting point. The next step is a free, no-obligation consultation with one of our expert mortgage advisors. We will assess your specific circumstances against the criteria of the major mortgage lenders in Ireland to find you the best possible interest rates and mortgage.