Getting a mortgage in Ireland as a foreigner: US guide

Many expats move to Ireland for work, to study, or toretire, with still more choosing Ireland as a great place to have a summer home. Whether you fancy life in Dublin or a coastal village, there will be a great property for you in Ireland.

If you need financing to buy your property, you'll need to understand the types of mortgages available in Ireland and the steps required to set one up. Irish banks do offer mortgages to Americans and other foreign nationals, but the requirements are much stricter than what Irish citizens face.

However, it's still possible to get approved. Here's everything you need to know about getting a mortgage in Ireland.

We'll also introduce Wise — your international money transfer alternative. Use Wise to send stress-free transfers to over 140 countries - all at the standard mid-market exchange rate.

Learn more 🔎

Table of contents

Can an American get a mortgage in Ireland? What are the legal requirements to get a mortgage in Ireland as a foreigner? What types of mortgages are available in Ireland? How much do you need for a down payment for an Ireland mortgage? Buying property abroad? Send money the hassle-free way with Wise Things to consider before applying for an Ireland mortgage What documents are required to get a mortgage in Ireland? How to apply for a mortgage in Ireland as a foreigner: step-by-step How long does it take to get a mortgage approval in Ireland?

Can an American get a mortgage in Ireland?

Yes, Americans can get mortgages in Ireland, but the process isn't the most straightforward. Many Irish banks won't consider your application if your income isn't in EUR, and some lenders won't work with foreigners at all.

You can expect the banks to have a fairly conservative approach to deciding if you're eligible for a mortgage in Ireland. They'll likely demand strong evidence that you can handle loan repayments and continue making payments even if interest rates spike.

You may also be required to pay a large down payment or get less favorable interest rates compared to Irish residents, as banks see foreign borrowers as higher risk.

What are the legal requirements to get a mortgage in Ireland as a foreigner?

No laws are preventing you from buying property or applying for mortgages in Ireland as an expat. Anyone can apply. However, it's not easy to get approved.

There are also strict financial rules set by Ireland's Central Bank. These rules were created to prevent risky lending, and they include 2 main limits that control how much you can borrow:¹

• Loan-to-Income (LTI) limit
• Loan-to-Value (LTV) limit

The Loan-to-Income (LTI) limit caps your mortgage at 4 times your annual income if you're a first-time buyer, or 3.5 times your income for subsequent purchases. So, if you earn 80,000 EUR annually as a first-time buyer, you could borrow up to 320,000 EUR.¹

The Loan-to-Value (LTV) limit determines your minimum down payment. First-time buyers and people purchasing second homes need at least 10% down, and investment property buyers need 30% down.¹

For foreign buyers, banks often impose even tighter restrictions beyond these Central Bank rules. The bottom line is that while you can apply, you need to be very financially stable to get approved by a mortgage lender in Ireland and, ideally, have ties to the country.

What types of mortgages are available in Ireland?

Irish mortgage rates average around 3.65% to 3.75% as of 2025, and your main choice will be between fixed-rate and variable-rate mortgages.²

• Fixed-rate mortgages lock in your interest rate for a set period, so you make the same monthly payments and are protected from rate increases

• Variable-rate mortgages change based on market conditions and your bank's Standard Variable Rate (SVR), so your payments can go up or down

Some products match the SVR central rates exactly, some are slightly higher than these rates, and some offer a discount on these rates. These discounted mortgage products are typically only available for a short period before your repayments revert to the SVR.

There are also different mortgages for buyers in specific situations. First-time buyers, or those purchasing a second home for buy-to-let, for example, might have tailored products to meet their individual needs.

All of the main Irish banks will offer different products. If you’re not familiar with the Irish mortgage market, it’s a good idea to get some specialist advice from a qualified financial advisor or mortgage broker, who can explain your options.

Should I go to a bank or use a broker?

You can apply for an Irish mortgage directly with a bank or work with a mortgage broker. For American buyers, using a broker is often a good idea.

Some banks limit the mortgages they'll offer non-resident expats in particular, so using a broker can be helpful if you don’t hold legal residency in Ireland.

Most Irish brokers earn 1% commission from the lender when your mortgage is approved. Some charge additional fees ranging from 300 EUR to 750 EUR, so ask about all costs upfront.³

A good broker can help you choose the right bank and mortgage product for your needs and will also make sure that your application is fully prepared and your documentation is all correct.

What are the major banks in Ireland providing mortgages for foreigners?

All major Irish banks offer mortgages, but not all work with American buyers or non-residents. Each lender also has different requirements. For example, they may want you to earn your income in EUR or to have Irish residency.

Ultimately, the decision about who is eligible for a mortgage or home loan is made by the institution. You might qualify with one of the following banks or mortgage lenders in Ireland:⁴

• AIB (Allied Irish Banks)
• Bank of Ireland
• Permanent TSB
• EBS Mortgages
• Haven Mortgages
• Avant Money
• ICS Mortgages
• Finance Ireland
• NUA Money
• MoCO
• Credit Union Mortgages

While it's not guaranteed that these banks will approve you for a mortgage in Ireland, they're known to be friendlier toward foreigners.

How much do you need for a down payment for an Ireland mortgage?

According to the Central Bank rules, first-time buyers need at least 10% down, and buy-to-let investors at least 30%.¹ However, as a foreign buyer, you may need to pay more than these minimums.

Each bank sets its own requirements, so don't be surprised by needing to put 20%, 30%, 40%, or even 50% down.

Additional fees and costs

Your main costs will be the deposit and the monthly mortgage payments. That said, there are a few other fees that you should be aware of.

Cost	Amount⁵
Stamp duty	1% on first 1M EUR 2% on 1M to 1.5M EUR 6% above 1.5M EUR New builds: Home value minus 13.5% VAT
Solicitor fees	1,500 to 3,000 EUR
Surveyor fees	300 to 500 EUR
Valuation fees	200 to 300 EUR
Mortgage protection	Varies
Home insurance	Varies
Property tax	Annual based on property value
Renovations	Varies
Moving costs	Varies

Naturally, some of these costs, like renovations, aren't required for all property buyers. But stamp duty, solicitor fees, valuation fees, insurance, and property taxes are required with almost all lenders or by law.

Buying property abroad? Send money the hassle-free way with Wise

Now that we covered some of the basics, the only question left is how to send money to pay for your property overseas?

Wise offers you a quick, secure and transparent way of sending money to Ireland. You get the mid-market exchange rate for your payments and see how much is charged for the transfer before sending the money from your bank.

With the Wise Account, you can also hold 40+ currencies, spend money in 150+ countries, and receive like a local in 8+ different currencies.

Get started with Wise

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information

Things to consider before applying for an Ireland mortgage

One of the most important things for foreign buyers to remember is that their approval chances will likely improve if they have strong ties to Ireland, such as Irish residency or long-term employment with an Irish company.

So, try to increase your connection to the country.

Here are a few other things to consider:

• Your income currency matters: Banks may prefer applicants who earn in EUR rather than USD

• Exchange rate risk: If you earn in USD but need to pay your mortgage in EUR, currency fluctuations could increase your monthly payments

• Employment stability: Banks want to see steady income and long-term job security, so freelancers or self-employed business owners will likely need to show more paperwork

It's also helpful to open a bank account in Ireland and establish a good credit history before applying for a mortgage.

What documents are required to get a mortgage in Ireland?

The exact paperwork you'll need will depend on the bank you use. However, you can expect to be asked for the following:

• Copies of your personal identification documents (like a national ID card or passport)
• Proof of legal residence in Ireland (if applicable)
• Documents to prove you're creditworthy (usually a credit check, bank statements, proof of your wages, or a letter from your employer)
• Documents to prove the affordability of the mortgage (these might be household cash flow statements, utility bills, or bank statements that show that you can afford the monthly payments)

All of these documents should be provided to the bank to get a mortgage in principle, which means that they agree on how much they would lend you if you find a suitable property. This typically takes 2-4 weeks and doesn't guarantee final approval.⁶

Once you have an accepted offer on a property, you'll need additional documentation, including a property valuation report, survey results, and legal documentation from your solicitor. The bank will then make a final lending decision.

How to apply for a mortgage in Ireland as a foreigner: step-by-step

---

1. Decide if you'll use a broker

It's often a good idea to use a mortgage broker to get a mortgage in Ireland for foreigners. They'll know which banks work with Americans and which don't, and can prepare your application to increase your chances of approval.

2. Prepare your mortgage application

Gather all of your paperwork, including financial statements and proof of employment. If you're using a broker, they can help advise on what documents you'll need and how to organize them.

3. Apply for Approval in Principle (AIP)

Submit your application for pre-approval, which shows sellers that you're a serious buyer. The AIP process takes 2 to 4 weeks and lets you know how much the bank would potentially lend you. This approval is valid for 6 months.⁶

If you don't get approved, you can also look into applying for a mortgage for an overseas property with your US bank or working with an international mortgage lender.

4. Start house hunting

Now that you have your AIP, you can begin searching for properties that fit your budget. You can look for them online or hire a real estate agent (your mortgage broker might know a good one).

5. Make an offer and secure final approval

Once your offer is accepted, return to your lender with property-specific documentation, including valuation reports and legal searches. The bank will issue a formal mortgage offer letter to finalize your loan terms.

How long does it take to get a mortgage approval in Ireland?

There are 2 parts to getting a mortgage in Ireland: Approval in Principle (AIP) and the official loan offer.

On average, getting pre-approved takes 2 to 4 weeks. The AIP is then going to be valid for 6 months, giving you more than enough time to go house hunting.⁶

Once you find a property, getting the official mortgage loan offer will take you an additional 5 to 10 days.⁶

Sometimes the process can take longer if your documents aren't in order.

---

Buying a new home is a big step, and when you’re buying in a new country, it can be a daunting process.

The mortgage market in Ireland can be difficult to navigate, especially as an expat, because of the limited funding available for mortgages and home loans. If you’re not a legal resident of Ireland and looking to invest, it can be especially tricky. However, it's still possible!

Now that you know how to get a mortgage in Ireland, there's something else you should think about: minimizing the costs of sending money from the US to Ireland.

Banks often charge high fees for international transfers and apply poor exchange rate markups when converting USD to EUR.

For large amounts like your deposit or regular transfers like your mortgage payments, these costs can add up to hundreds or even thousands of USD.

For a fast, simple, and secure way to send money to Ireland with low fees, even for large transfers, use Wise.

Sources

1. Central Bank of Ireland - What are the mortgage measures?
2. Central Bank of Ireland - Mortgage Interest Rate Distributions
3. Mortgageline - How much does a mortgage broker charge?
4. OI - Can you get a mortgage as a foreigner in Ireland
5. Zurich - All the costs of buying a house in Ireland
6. Mortgageline - How long does a mortgage approval take?

Sources checked 06/20/2025