Calculate how much you can afford as a first-time buyer. Estimate your required deposit, monthly mortgage payment, total upfront cash needed, and how long it will take to save enough to buy.
Country
Currency
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Your First-Time Buyer Profile
Income & Budget
€
Your total annual income before tax.
€
Add a second income if buying jointly.
×
Typical lender income multiple used for maximum loan estimate.
€
Loans, car payments, subscriptions. Used for affordability check.
Property & Mortgage
€
The purchase price you are targeting.
%
Deposit as a percentage of property price. Minimum is typically 5% to 10%.
%
Expected annual interest rate for illustration.
yrs
Length of mortgage repayment.
Savings & Costs
€
Total savings available toward deposit and costs.
€
How much you can save each month toward your goal.
%
Estimated closing costs as % of property price.
€
Survey, moving, initial furnishing, etc.
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Readiness Score
Max Loan (Income)
—
income multiple estimate
Required Deposit
—
deposit amount needed
Monthly Payment
—
estimated mortgage payment
Total Upfront Cash
—
deposit + closing + other
Deposit progress—
Total upfront cash progress—
Property Price
—
target
Deposit %
—
of price
Deposit Amount
—
required
Loan Required
—
price minus deposit
Max Loan (Income)
—
income × multiple
Loan vs Max
—
headroom check
Monthly Payment
—
estimated
Payment / Gross Income
—
gross affordability
Disposable Income
—
after expenses /mo
Payment / Disposable
—
true affordability
Total Interest
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over term
Closing Costs
—
estimated
Total Upfront Cash
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all in
Savings Gap
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still needed
Full First-Time Buyer Breakdown
Loan Required
Property price—
Deposit—
Loan required—
Income Affordability
Combined income—
Income multiple—
Max loan (income)—
Monthly Affordability
Monthly payment—
Gross monthly income—
Disposable monthly income—
Payment / disposable income—
Savings Readiness
Current savings—
Total cash needed—
Gap remaining—
Savings Timeline to Goal
Cumulative savings
Deposit target
Total cash target
Deposit Scenario Table
Deposit %
Deposit Amount
Loan Required
Monthly Payment
Total Upfront Cash
Savings Milestone Table
Month
Cumulative Saved
Deposit Gap
Total Cash Gap
Important: This calculator provides a first-time buyer planning estimate using income, deposit, mortgage rate, and cost assumptions. It does not account for lender credit scoring, underwriting criteria, property-specific factors, government scheme eligibility, stamp duty, transfer taxes, or country-specific mortgage rules. It is an estimate only.
✦ Cal, AI Explanation
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Your first-time buyer estimate is ready. Ask me about your deposit, monthly payment, how long to save, or what the income multiple means.
🏡 Key Notes
Deposit is typically 5% to 20% of the property price
Income multiple is a lender guideline, not a guarantee
Closing costs are separate from the deposit
Payment ratio above 30% of disposable income signals stretch
Country display only, not country law or tax logic
Lenders assess first-time buyer affordability using two main checks. The first is an income multiple, which caps the loan at a multiple of your gross annual income, typically between 3.5 and 5 times. The second is a payment-to-income ratio check, which assesses whether the monthly repayment is sustainable relative to income and committed expenses.
Check
What It Assesses
Typical Threshold
Income multiple
Maximum loan relative to gross income
3.5× to 5×
Payment-to-income ratio
Monthly payment as % of gross monthly income
Under 30% to 35%
Deposit
Cash put toward purchase, reducing the loan
5% minimum typically
Upfront cash total
Deposit plus all closing and transaction costs
Varies by market
How the deposit affects your mortgage
A larger deposit reduces the loan amount, which reduces the monthly payment and total interest paid over the mortgage term. It also typically improves the interest rate offered by lenders, because a lower loan-to-value ratio represents lower risk. Most lenders require a minimum deposit of 5% to 10% for first-time buyers, although 20% or more usually unlocks better rates.
What counts as upfront cash needed
Upfront cash for a first-time buyer includes more than just the deposit. Closing costs, which cover legal fees, valuation, title charges, and prepaid items, add a further 2% to 6% of the property price in most markets. Survey costs, moving costs, and initial setup costs all add to the real cash required on and around completion day.
How long does it take to save enough
Savings timelines depend on three things: the total upfront cash target, your current savings balance, and how much you can save each month. This calculator shows a month-by-month projection to the point where savings reach both the deposit target and the full upfront cash target. Adding to monthly saving capacity or reducing the target property price both shorten the timeline.
Frequently Asked Questions
How much deposit do I need as a first-time buyer?+
The minimum deposit for most first-time buyers is 5% to 10% of the property price, depending on the lender and country. A deposit of 20% or more often unlocks better interest rates and reduces the total cost of borrowing over the mortgage term.
What is an income multiple?+
An income multiple is the ratio a lender uses to estimate the maximum loan they are willing to offer relative to your gross annual income. A multiple of 4 means a lender would typically offer up to four times your income. This is a guideline used for initial planning, not a guarantee of lending, as lenders also assess credit history, expenses, and other factors.
What is a good payment-to-income ratio?+
A mortgage payment below 28% to 30% of gross monthly income is often seen as comfortable, but the more practical check is the payment as a share of disposable income after committed expenses. Payments between 30% and 40% of disposable income are more stretched, and above 40% usually signals higher financial pressure.
Do closing costs count toward my deposit?+
No. Closing costs are paid separately and are in addition to the deposit. Both must be funded from savings or other sources at the point of purchase. The total upfront cash needed is the deposit plus all closing costs, survey fees, legal charges, and any other completion day expenses.
Why might a lender offer less than this calculator shows?+
This calculator uses a simplified income multiple and fixed-rate payment formula. Real lender decisions include credit scoring, existing debt levels, employment type, property valuation, affordability stress tests at higher rates, and product-specific criteria that are outside the scope of this planning tool.
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