Home Choice Loan is a mortgage for First Time Buyers and is provided by a number of local authorities.

First time buyers can apply for a Home Choice Loan to purchase a new or second hand property or build their own home.

Home Choice Loan can provide up to 92% of the market value of a property purchased.  The maximum loan amount is €285,000. 

The loan is a normal Capital and interest bearing mortgage  which is repaid on a monthly basis.  Home Choice Loan offers one variable interest rate. The rate is currently set at 3.25% variable. APR 3.30% .

The mortgage term will be for a maximum of 30 years.

To find out if you are eiligible, or to apply for a Home Choice Loan visit an authorised mortgage broker.

Complete an application form with your broker.  Your broker will submit the application form for assessment.

Your application form will be assessed by the Home Choice Loan central processing unit and your broker will be advised of the decision.

Mortgages are then issued by four designated local authorities; Galway County Council, Kilkenny County Council, Cork City Council and Dublin City Council. The four designated local authorities provide the loan on behalf of all remaining local authorities as shown in the table below:

Home Choice Loan offers one variable interest rate. The rate is currently set at 3.25% variable.  APR 3.30%. 

To qualify for a Home Choice Loan applicants must:

• be a first time buyer (some exceptions may apply);
• earn over €35,000 as a single applicant and over €45,000 combined income as joint applicants;
• be in continuous employment for a minimum of one year; If self-employed be able to submit two years certified accounts;
• provide evidence via a broker that they could not obtain sufficent finance from two banks or building societies. 

Home Choice Loan is now available through authorised mortgage brokers.

Complete an application form with your broker.  Your Broker will submit the application form for assessment.

Your application will be assessed by the Home Choice Loan central process unit and your broker will be advised of the decision.

Click here for a list of authorised brokers.

 The property must be:

• acceptable for mortgage purposes
• in the republic of Ireland
• for sale on the open market
• a residential property that you will live in 
• covered by Home Bond, Premier Guarantee or equivalent
• no larger than 175 square metres and must comply with building and planning regulations

No. Home Choice Loan is a market designed mortgage to provide access to credit for first time buyers who can afford to purchase on the open market and can afford to service a mortgage, but are unable to get a sufficient mortgage amount from a bank or building society.

No, it cannot be increased.

Yes you are allowed to refinance your Home Choice Loan with a Bank or Building Society