MAKE YOUR NEXT MOVE WITH CONFIDENCE
Understanding Mortgage Repayments in Ireland
See how the amount borrowed, rate and term change your monthly repayment.
Ghar.ie editorial guide · Sources checked 27 September 2026
Start with the mortgage, not the asking price
If a home costs €350,000 and you contribute €35,000 towards the price, the starting loan is €315,000. Buying fees still need funding separately. Entering the full asking price as the mortgage overstates repayments when you have a deposit. Conversely, leaving renovation borrowing out of the loan understates the commitment if it will be financed through the same mortgage.
Separate monthly comfort from lifetime cost
A longer term normally reduces the monthly repayment at the same rate, but leaves money outstanding for longer. Compare both the payment and total interest before choosing a term. For example, a €300,000 loan at a constant 4% costs about €1,432 monthly over 30 years and €1,584 over 25 years. The shorter term costs more each month but substantially less interest overall.
Use the balance table
Early payments contain more interest because the outstanding balance is larger. The annual table shows cumulative payments, cumulative interest and the balance still owed. Money paid to the lender is not all equity in your home. A deposit adds equity at the outset; principal repayments add more over time.
Try a rate change before committing
The calculator assumes one rate for the full term. Run another scenario at a higher rate to see whether your budget has room for a change. Add insurance, LPT, maintenance and service charges separately. Your offer determines the actual repayment schedule, rate period and fees; an illustrative online calculation cannot confirm approval.