Buying your first home in Dublin is one of those milestones that feels exciting, overwhelming, and a little bit surreal. The biggest shock for most people? Realising just how many mortgage options exist, and how wildly different they can be depending on your income, deposit, borrowing capacity, and the type of property you’re buying.
This guide breaks everything down in simple, practical language so you can understand the full picture before you start house-hunting.
1. Start With the Basics: How Much Can You Borrow?
Most first-time buyers in Ireland can borrow up to 4x their income, thanks to the Central Bank mortgage rules. If you’re buying with someone else, your joint income applies.
Example:
€80,000 income = €320,000 borrowing limit
€100,000 income = €400,000 borrowing limit
But that’s not the whole story.
Mortgage lenders will assess your:
- Net disposable income
- Existing loans
- Rent or savings pattern
- Day-to-day affordability
- The type of mortgage protection required
- Your credit profile
This is why two people on the same salary can be approved for very different loan amounts.
2. The Main Mortgage Options for Dublin First-Time Buyers
A. Standard First-Time Buyer Mortgage
This is the most common route; a straight mortgage from a mainstream bank. Rates vary, but your options fall into two broad categories:
Fixed-rate
You lock in your rate for 2–10 years. Stable, predictable repayments. Great when you’re planning a family or want certainty.
Variable-rate
Flexible, can be more expensive in some cases, but changes with the market. Can be better if you expect to clear lumps sums or switch in a few years.
B. The Help-to-Buy Scheme (HTB)
HTB is often the big difference-maker in Dublin. It gives back up to €30,000 of the tax you’ve paid over the last four years, which can be used towards your deposit.
Key rules:
- Applies to new builds only
- You must be a first-time buyer
- You need at least a 10% deposit (HTB can count towards this)
C. First Home Scheme (FHS)
One of the most powerful tools for Dublin buyers struggling with rising prices.
The State takes up to 30% equity in the property (or up to 20% if you’re also using HTB). You repay that equity share later; typically when you sell, refinance, or buy out the State.
Great for:
- Buyers who fall short on borrowing capacity
- People priced out of certain areas
- Anyone buying a new build
D. Green Mortgages
If you’re buying a highly energy-efficient property (A-rated), some lenders offer discounted rates. In Dublin, where most new-builds are A-rated, this matters a lot.
E. Fixed-Term Vs. Long-Term Fixed Mortgages
Ireland has seen a rise in 20–30 year fixed mortgages. They offer lifetime repayment certainty but come with:
- Higher break fees
- Reduced flexibility
- A commitment that may not suit everyone
These suit buyers who want absolute certainty long-term.
3. The Dublin Factor: Why Location Changes Everything
Dublin prices move differently to the rest of the country. Supply is tighter. Competition is higher. And your choices are usually governed by:
- Proximity to work
- Public transport access
- School catchment areas
- Distance from family or childcare support
Because of this, using schemes like FHS or HTB often becomes essential to help bridge the affordability gap.
For most buyers we meet, the conversation becomes:
“How do we get you the affordability you need without overstretching your monthly repayments?”
This is where planning with a broker makes a massive difference.
4. The Mortgage Process and What to Expect
Step 1: Get mortgage approval in principle (AIP).
This is your real spending power.
Step 2: Start viewing homes.
In Dublin, move quickly as good properties go fast.
Step 3: Go sale agreed and begin the full application.
Your broker handles:
- Underwriting
- Valuation
- Paperwork
- Insurance
- Protection
- Liaising with your solicitor
Step 4: Loan offer issued.
Step 5: Drawdown and move in.
5. What’s the Best Mortgage Option for You?
There’s no single answer and anyone who claims there is probably isn’t giving you tailored advice.
Your circumstances matter:
- Are you planning a family soon?
- Do you have childcare costs coming?
- Are bonuses part of your income?
- Are you self-employed?
- Do you expect career progression soon?
The right solution blends:
Rate + Flexibility + Schemes + Long-term planning
At DNG Financial Services, we sit down with you and walk through every option based on your real numbers; not generic calculators that ignore your actual life.
6. Final Thoughts
If you’re buying in Dublin for the first time, you have more support available than you realise. Yes, the market is competitive. But with the right guidance, you can structure your mortgage in a way that protects your lifestyle, your future plans, and your financial stability.
If you want tailored, practical advice (not generic online articles), the team at DNG Financial Services can walk you through everything from approvals to keys-in-hand.