A home deposit,
explained simply.
Think of buying a home as filling two jars: one jar is your deposit, and the other is for the extra costs of buying. The mortgage covers the rest of the price.
Example: a €350,000 homeIf you put €35,000 in as a deposit, the remaining price is €315,000. That is the amount you may need a mortgage for. The stamp duty and professional costs sit alongside these amounts.
What is the deposit?
It is your cash contribution to the home price. It reduces the amount you borrow. It does not automatically pay for all the other steps in buying a home.
What is the mortgage?
It is the loan for the part of the price you are not paying from your deposit. You then repay the loan over time, usually with interest.
What are the extra costs?
They are the costs that help the purchase happen: stamp duty, solicitor and registration charges, valuation, survey and moving. The actual figures depend on your home and the quotes you receive.
1 — Pick a likely price
Use a real listing price or a realistic range.
2 — Try a deposit percentage
See what amount you would need to save.
3 — Add the extras
Put your own quotes into the full budget calculator.
4 — Check the monthly number
Compare repayment scenarios before you commit.