First Time Buyer Mortgage Calculator

Easily calculate how much you can afford or what a property will cost

Schemes Available To First Time Buyers

There are two options available to you to help you buy your first home. The First Home Scheme is a tax rebate to help you fund your deposit. The Help to Buy Scheme is a shared-equity scheme in partnership with your local council

First Home Scheme

The First Home Scheme aims to bridge the gap for first-time buyers and eligible homebuyers between their deposit and mortgage. The state and participating banks pay up to 30% of the market value of your new home in return for an equivalent equity stake in the property. The maximum price of a property you can purchase depends on the local authority area in which you purchase your new home. You can read more about the scheme on our First Home Scheme Page

Example 1:

Josh & Jane are interested in buying a new home in Dublin. The House costs €500,000 and is being sold by a private developer in a new housing scheme. Josh and Jane earn a combined income of €100,000 annually. Under the Central Bank rules, they are only able to qualify for a mortgage of €400,000. They also have accumulated savings of €50,000. In this scenario, see below, they are €50,000 short of the funds needed to acquire the house.

Subject to approval, the First Home Scheme would pay this shortfall for Josh & Jane and then take a % stake of the equity provided in the house. In this instance, it's 10% (€50,000 is 10% of the purchase price)

House Purchase Price€500,000
Maximum Mortgage Available€400,000
Savings Accumulated€50,000
Total Funds€450,000

Example 2:

Mary and Tom are first-time buyers with a combined salary of €80,000 and accumulated savings of €40,000. They want to buy a new home in Galway that is on the market for €380,000. The participating lender has offered a potential mortgage of €320,000, 4 times income, so minus the deposit of €40,000 they have a shortfall of €20,000. The First Home Scheme could step in and provide the funds to bridge this gap by taking a stake of 5% in the property.

Help to Buy Scheme

This is a tax rebate of up to €30,000 available to first time buyers to help towards their new home purchase. The amount received is dependent on tax paid over the previous 4 years. You must be fully tax compliant. You can read more about the scheme on our Help To Buy Scheme Page


Mary is a first-time homebuyer and wants to purchase a new build home worth €300,000. She has a deposit of €30,000 and has been approved for a mortgage of €270,000. Under the Help- to Buy scheme, Mary can get a tax rebate of up to €30,000 which, once approved and verified, will be sent to the builder-developer reducing the overall amount due on the house.

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First Time Buyer Mortgage Calculator

Calculate how much you can afford or what a property will cost

Have you a property in mind?
If yes, we'll work out what it will cost, otherwise what you can afford
The Help To Buy Scheme

(previously the First Time Buyers Grant)

Read more
The First Home Scheme
Read more
County Council
Property Type
Property price

Enter the price of the property in mind

Your deposit

(including gifts)

Your yearly income

(before tax)

If there are two of you, enter your combined incomes

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