Worked answer · Mortgage & borrowing limits
€350,000 home, €70,000 deposit, 4% for 30 years
What is the monthly repayment on a €280,000 mortgage at 4% over 30 years? In this example: estimated monthly repayment €1,336.76, total interest €201,234.62.
Authored by K Imports. Fixed figures from the mortgage & borrowing limits model; they do not use anything you type on this site.
Assumptions used
- Purchase price €350,000 and deposit €70,000, so the loan is €280,000 (80% loan-to-value).
- Fixed 4% annual rate and equal monthly payments over 360 months; no overpayments and no rate change.
- Example household income €80,000, first-time buyer, used only for the lending-limit comparison.
- 4% is an illustrative rate, not a lender quote.
Results
| Result | Value (euro unless stated) |
|---|---|
| Estimated monthly repayment | €1,336.76 |
| Total Interest | €201,234.62 |
| Total Repayment | €481,234.62 |
| LTV Percent | 80% |
All inputs for this result
- Property price (€): 350,000
- Cash deposit (€): 70,000
- Initial annual interest (%): 4
- Term (years): 30
- Gross household annual income (€): 80,000
- Buyer type: First-time owner occupier
- Monthly overpayment (€): 0
- Round each repayment cashflow to cents (lender-style schedule): No
- Future interest changes:
How the figures are worked out
The standard annuity formula gives one fixed payment: the monthly rate is 4% divided by 12, applied over 360 payments. Early payments are mostly interest, so the balance falls slowly at first.
Total interest is the sum of all payments minus the amount borrowed. It shows what the term costs rather than what any lender would offer.
Insurance, legal fees, stamp duty and rate changes are excluded, and approval depends on lender assessment of income and credit.
- Published calculation method. Monthly capital-and-interest amortisation is recalculated when the interest rate changes. Overpayments reduce the remaining balance.
What this answer does not cover
Standard LTI is 4× for first-time buyers and 3.5× for subsequent buyers. Owner-occupier minimum deposit is generally 10%; buy-to-let 30%. Allowances, exempt loans and lender affordability assessments are separate.
Outputs are purely estimates and not formal financial advice; verify final figures with Revenue.ie or a qualified accountant.
Try your own figures
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