Ireland Mortgage Repayment Calculator

An Irish repayment mortgage is a standard annuity loan: each repayment covers the interest charged since the last payment, and the remainder reduces the balance. The payment comes from the reducing-balance formula M = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan, r is your annual rate divided by the number of payments a year, and n is the total number of payments. The quoted rate is the rate the maths uses, with ordinary monthly compounding and no special convention.

Under the Central Bank of Ireland mortgage measures, a first-time buyer generally needs at least a 10% deposit (a 90% loan-to-value limit), and second and subsequent buyers generally need 20%. Lenders can exceed these limits for a limited share of their lending each year. The Help to Buy scheme, run by Revenue, can assist first-time buyers of a new-build with part of the deposit.

Since January 2023 the Central Bank has capped most new lending at 4 times gross income for first-time buyers and 3.5 times for second and subsequent buyers, again with a limited allowance for lenders to go above. This calculator works out the repayment on a loan amount you enter; the income cap is a separate limit on how large that loan can be.

Yes. This calculator treats each frequency as a genuine schedule on that basis (52, 26, or 12 payments a year), not as a split monthly figure, so paying more often reduces total interest slightly because the balance falls sooner. A monthly-equivalent is shown alongside so the options compare like for like. Whether your lender offers a given frequency is a matter of its own policy.

Irish mortgage terms commonly run up to 35 years, subject to the term ending by a set age. A shorter term raises each repayment but cuts the total interest paid over the life of the loan, which you can see by shortening the term and watching the total-interest figure and amortisation chart change.

No. It shows the repayment on your loan amount only. It does not include valuation or legal fees, mandatory mortgage protection insurance, or the lender’s APRC, and it does not apply the Central Bank income or deposit limits. Those affect how much you can borrow and the full cost, and are handled by your lender and by separate tools.