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Mortgage calculator question.

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  • 07-10-2020 4:06pm
    #1
    Iseedeadpixels
    Registered Users Posts: 3,849 ✭✭✭


    Hi guys,

    All the calculators Im using are giving me numbers a lot less than what I thought. I thought the mortgage amount was 3.5 the gross salary and 90% value of the building for first time buyer....Im getting amounts of less than half my salary to just under twice the amount. Im very confused, is it due to being a single applicant?


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    #2
    Timing belt
    Registered Users Posts: 3,422 ✭✭✭Timing belt


    Iseedeadpixels wrote: »
    Hi guys,

    All the calculators Im using are giving me numbers a lot less than what I thought. I thought the mortgage amount was 3.5 the gross salary and 90% value of the building for first time buyer....Im getting amounts of less than half my salary to just under twice the amount. Im very confused, is it due to being a single applicant?

    Do you have maintenance costs for children?


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    #3
    Iseedeadpixels
    Registered Users Posts: 3,849 ✭✭✭Iseedeadpixels


    Timing belt wrote: »
    Do you have maintenance costs for children?

    Yes for 1 child who will be 12 by the time I want to apply.


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    #4
    Timing belt
    Registered Users Posts: 3,422 ✭✭✭Timing belt


    Iseedeadpixels wrote: »
    Yes for 1 child who will be 12 by the time I want to apply.

    That is the reason. It counts it like you are paying a existing mortgage. Use calculator without adding maintenance and you will see the diff


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    #5
    Iseedeadpixels
    Registered Users Posts: 3,849 ✭✭✭Iseedeadpixels


    Timing belt wrote: »
    That is the reason. It counts it like you are paying a existing mortgage. Use calculator without adding maintenance and you will see the diff

    Yep see it there thanks.


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