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Accuracy of online mortgage calculators

  • 21-02-2021 10:06pm
    #1
    WhiteWalls
    Registered Users, Registered Users 2 Posts: 945 ✭✭✭


    How accurate are they?

    I'm aware it's minimal information that you give but I've been surprised the figure I've been quoted.

    Single person, no dependants or loans. Earning 60k a year. The calculator gave a mortgage of 35 years with a purchase price of 300k. Obviously I'd need the 30k deposit.

    Could this be accurate?


Comments

  • #2
    glack
    Registered Users, Registered Users 2 Posts: 699 ✭✭✭glack


    WhiteWalls wrote: »
    How accurate are they?

    I'm aware it's minimal information that you give but I've been surprised the figure I've been quoted.

    Single person, no dependants or loans. Earning 60k a year. The calculator gave a mortgage of 35 years with a purchase price of 300k. Obviously I'd need the 30k deposit.

    Could this be accurate?

    Doubt it. Max you’ll get without an exception is likely 210,000.


  • #3
    [Deleted User]
    Posts: 25,611 ✭✭✭✭ [Deleted User]


    What one did you use? Any I've used have had a hard 3.5x annual income limit. Aside from the Rebuiliding Ireland one.


  • #4
    Smee_Again
    Registered Users, Registered Users 2 Posts: 2,148 ✭✭✭Smee_Again


    Not without an exception.


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