How is the Ireland mortgage monthly repayment calculated?

This tool uses the standard annuity repayment formula: M = P [ i(1+i)^n ] / [ (1+i)^n - 1 ], where P is the loan amount (property price minus deposit), i is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly payments (term in years multiplied by 12). This is how repayment mortgages are structured in Ireland, assuming a fixed rate for the full term.

What deposit and loan-to-value limits apply in Ireland?

The Central Bank of Ireland sets macroprudential rules for residential mortgages: first-time buyers generally need a minimum 10% deposit (90% loan-to-value), while second-and-subsequent buyers generally need a minimum 20% deposit (80% loan-to-value). Lenders have limited allowances to exceed these limits for a portion of their lending each year, so exceptions exist.

Does this calculator include stamp duty?

No. This tool calculates the mortgage repayment on the loan amount only. Stamp duty on Irish residential property is a separate one-off cost paid on completion, charged at 1% on the first €1 million of the price and 2% above that, and it is not part of the mortgage loan or repayment.

What mortgage term and rate should I use?

Irish mortgage terms commonly range from 20 to 35 years, though lenders usually require the loan to be repaid by a set age, often 70. Interest rates vary by lender, loan-to-value band, and whether the deal is fixed or variable, so use the rate quoted on your specific mortgage approval or a current representative rate for the most accurate estimate.

Why does a larger deposit lower my monthly repayment?

A larger deposit reduces the loan amount you need to borrow, which directly lowers both the monthly repayment and the total interest charged over the term. A bigger deposit can also move you into a lower loan-to-value band, which often qualifies you for a lower interest rate from Irish lenders.

Ireland Mortgage Calculator

Name: Ireland Mortgage Calculator
Availability: InStock
Author: Nham Vu

Enter your property price, deposit, interest rate, and mortgage term to see your monthly repayment, total interest, and a year-by-year amortization schedule in euros.

Mortgage Details

Property Price

€

Deposit 10.0%

€

Mortgage Term

Annual Interest Rate

Monthly Repayment

Live calculation

Monthly Repayment

€0.00

Loan Amount

€0

Total Interest

€0

Total Repaid

€0

Payoff Date

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Year	Annual Payment	Interest Paid	Principal Paid	Balance

Summary

Enter your property price, deposit, interest rate, and mortgage term to see your monthly repayment, total interest, and a year-by-year amortization schedule in euros.

How it works

Enter the property price and your deposit amount; the deposit percentage updates automatically.
Choose your mortgage term in years and enter the annual interest rate.
Read the monthly repayment, total interest, and total repaid figures as you type.
Expand the amortization schedule for a year-by-year breakdown of interest, principal, and remaining balance.

Use cases

A first-time buyer checking monthly repayments before applying for mortgage approval in principle.
Someone comparing a 25-year term against a 30-year term at the same interest rate.
A buyer testing how a bigger deposit lowers the loan amount and monthly repayment.
Anyone checking how much total interest builds up over the full mortgage term.
A homeowner comparing their current lender rate against a switching offer.

Frequently Asked Questions

Last updated: 2026-07-23 · Reviewed by Nham Vu