Rebuilding Ireland Home Loan Program Set to Increase Income Cap

July 13, 2021
Makayla Santino

The Rebuilding Ireland Home Loan program will be increasing the income limits for those that qualify. Rebuilding Ireland Home Loan is a government-backed mortgage for first-time homebuyers. The program was established in 2018 so these first-time homebuyers could get a mortgage after being denied from private lenders and banks.

These loans can go towards new, second-hand, or self-build properties. Maximum loan amounts are determined by location and the program will lend up to 90 percent of the home’s market value. The value of homes bought in Dublin, Cork, Galway, Louth, Kildare, Wicklow, and Meath cannot be greater than €320,000. Most other areas of the country have a price limit set at €250,000.

The increase of the income limits will allow more first-time homebuyers to apply for state-backed mortgages. There are also intentions to decrease interest rates on government home loans for those that will be buying their first home. The currency income limit is set at €50,000 for single individuals looking to take out their first mortgage and the prospective Housing for All plan will raise that income cap to €65,000. For couples, the income level is set at €70,000 and there are currently not any talks of increasing this cap. 

Changes will also be made to the interest rates on these loans with an expected 0.25 percent decrease. The rates would be set at about 3.05 percent for 25-year loans and 3.3 percent for 30-year loans. These decreased rates will include mortgage protection, but will only be applicable to loans brought down after rates are reduced. 

Since the program’s introduction in 2018, over 2,100 first-time homebuyers have been serviced for around €360 million. For an individual to be accepted into the program, they must also have been turned down by a minimum of two mortgage lenders. 

Darragh O’Brien, Ireland’s Housing Minister, will be revealing the Housing for All plan with more in-depth information within the next few weeks. With a declining rate of homeowners in Ireland, this plan may be essential in breaking those trends. With the raise in the income limit, more people will be eligible for the program, leading to more homeowners throughout Ireland.




Ryan, Philip. “Rise in Income Limit to Make More People Eligible for State Mortgage.”, 5 July 2021,

Rebuilding Ireland,

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