Home Buying Schemes Calculator

How this schemes calculator works

Help to Buy (HTB) returns income tax you have already paid as a cash rebate toward your deposit on a new-build home. The rebate equals whichever is lowest: 10% of the purchase price, €30,000, or the total income tax and DIRT you and any co-applicants paid in the previous four tax years. You must be a first-time buyer and live in the property as your principal private residence for at least five years.

First Home Scheme (FHS) is a shared-equity support where the State takes an equity stake in a new-build — up to 30% when used alone, capped at 20% when combined with Help to Buy. Service charges apply from year 6 on the outstanding stake. The Local Authority Affordable Purchase scheme works similarly but is administered by individual Dublin councils and restricted to specific new developments, each with its own income thresholds.

What this calculator does not enforce: FHS regional price caps (which vary by county and property type), Local Authority Affordable Purchase income limits (set by each council), the "new-build only" restriction (all three schemes apply to new builds only — second-hand homes in Dublin are not eligible), or the HTB four-year tax-paid cap which requires your actual Revenue records. Always confirm eligibility with Revenue.ie and firsthomescheme.ie before acting on the output.

Worked example — €420,000 new build, first-time buyer couple on €85,000

A first-time buyer couple with combined gross income of €85,000 is buying a €420,000 new-build apartment in Dublin. At the 10% minimum deposit for first-time buyers, they need €42,000 upfront. Their combined income tax paid over the past four years works out to roughly €48,000, comfortably above the HTB cap.

HTB rebate: lower of €42,000 (10% of price), €30,000 (hard cap), and €48,000 (tax paid) = €30,000. This is applied directly toward the deposit, so only €12,000 comes from their own savings. FHS stake: with the 20% combined cap applied (down from the 30% standalone cap because HTB is also in use), the State takes up to €84,000 equity. Required mortgage: €420,000 − €42,000 deposit − €84,000 FHS = €294,000. At 4× LTI on €85,000 gross income, their borrowing limit is €340,000 — this scenario lands €46,000 below that ceiling, so standard lender affordability should pass.

Without the schemes, the same couple would need €42,000 cash deposit plus a €378,000 mortgage — above their €340,000 LTI limit, making a €420,000 property unaffordable. HTB and FHS combined effectively turn an out-of-reach purchase into a viable one. For the monthly repayment on the €294,000 mortgage, see the mortgage calculator.