First Home Scheme Income Limits Ireland Guide

The First Home Scheme Ireland is something we get asked about a lot here at Findivo, and for good reason. If you are saving for a place of your own, the income limits can feel like a bit of a minefield. I remember talking to a mate, Siobhan, who was pulling her hair out trying to figure out if she qualified. "Look," she said, "I earn roughly average wage, I have a decent deposit saved, but every calculator I try tells me something different." Fair enough. It is confusing. But once you break it down, it is actually grand. In this guide we will walk through the income limits, the eligibility rules, and exactly what the First Home Scheme Ireland means for you.

What is the First Home Scheme Ireland?

Right so, before we dive into the numbers, let us be clear on what we are talking about. The First Home Scheme Ireland is a government backed shared equity scheme designed to help first time buyers and certain other buyers bridge the gap between their mortgage and deposit and the price of a new home. Basically, the State (through the scheme) takes a stake in your home, up to a certain percentage, so you need a smaller mortgage and deposit. You buy them out later, or when you sell. It is not a grant, it is a shared ownership arrangement.

How does the equity share work?

The scheme covers up to 30% of the purchase price of a new home, although the actual percentage depends on how much you can borrow from a bank and your own deposit. You still need a mortgage from a lender (usually a bank) and your own deposit of at least 10%. The scheme then chips in the rest. To be honest, it is a bit like having a third partner, except that partner does not charge rent, they just want their share back eventually. Anyway, the income limits dictate whether you can even get a foot in the door.

Income Limits for the First Home Scheme Ireland

The income limits are the first hurdle. The scheme is not for everyone. According to the CSO, the median household income in Ireland has been creeping up, so the limits have been adjusted to keep pace. But as of the rules in place for 2026 (and that is a natural time to think about, since many buyers are looking ahead), the basic rule is this: your gross annual household income must be below a certain threshold. For a single applicant, that limit is 65,000 euro. For joint applicants (couples, siblings, friends buying together), it is 100,000 euro. Simple enough, right? Well, not exactly.

Single applicant vs joint applicants

If you are buying on your own, your income cannot exceed 65,000 euro gross per year. That includes bonuses, overtime, and any side hustle income. The CSO reported that average earnings for a full time employee are around 48,000 euro, so most singles will be grand. But if you are a high earner, say a software engineer on 80,000 euro, you are out of luck for the First Home Scheme Ireland. Joint applicants have a combined limit of 100,000 euro. That covers a lot of couples, especially if both are working. But watch out: if one partner earns 70,000 and the other earns 35,000, you are over the 100k limit. So you need to be strategic.

• Single applicant: gross income up to 65,000 euro per year.
• Joint applicants (two or more): combined gross income up to 100,000 euro per year.
• Income includes salary, bonuses, overtime, rental income (if any), and dividends.
• Self employed? Your income is assessed on the average of the last two years of net profit plus personal drawings.

How to check if you qualify for the First Home Scheme Ireland

Look, I will be straight with you: the easiest way is to use the official online eligibility checker on the First Home Scheme website. But you can also get a good idea using the rules above. A few years ago I helped my cousin Eoin run through his numbers. He was on 55,000 euro, his girlfriend on 45,000 euro, combined 100,000 exactly. "Fair enough," he said, "we are bang on the limit." But then we realised his overtime pushed him over 60,000, and her part time teaching hours varied. The CSO reported that many workers have irregular income patterns, so you need to be careful. The scheme looks at your gross income in the last tax year, or the current year if you can prove it. So if you had a big bonus last year, you might be over the limit even if your base salary is fine.

Practical tip: Before you start house hunting, request a copy of your latest Revenue tax assessment and add up all income streams. If you are borderline, consider delaying a bonus or reducing overtime in the qualifying year. It sounds extreme, but it could save you from being rejected. And remember, the income limits apply at the time of application, not when you draw down the mortgage.

Anyway, once you know you are under the income limit, the next step is the property price cap. The scheme only applies to homes costing up to 475,000 euro (in Dublin and other high cost areas) or 375,000 euro elsewhere. That is a hard limit. No negotiation. Also, you must have a mortgage approved from a participating lender. Most major banks are in. Right so, if you tick those boxes, you are in the running for the First Home Scheme Ireland.

Other eligibility criteria to keep in mind

• You must be a first time buyer, or a "fresh start" applicant (someone who has no interest in a former home after a separation or divorce).
• The property must be a new build, either a house or an apartment, and must be your principal private residence.
• You cannot use the scheme for a second home or an investment property.
• The equity share is a charge on the property, so when you sell or after 30 years, the scheme gets its share back, plus any increase in value.

To be honest, the biggest shock for most people is that you still need to pass the bank's stress tests. The scheme lowers the amount you need to borrow, but the bank still checks that you can afford the mortgage repayments. According to the RTB (Residential Tenancies Board), rents have been rising faster than wages, so even with help, you need to show you can service the loan. That is where having a strong credit history and a steady job matters.

What if you are over the income limit? Other options

Not everyone qualifies for the scheme, and that is grand. There are other paths. For example, you could look at the Help to Buy scheme, which gives a tax refund on your deposit (up to 30,000 euro) for new builds. Or you could buy an older home with a standard mortgage. If you are renting and struggling with deposits, check out our page on properties for sale to see what is available in your budget. Alternatively, if you need to save more, consider a cheaper area or a smaller home. The CSO reported that new home prices in Dublin are still high, but there are bargains in the regions.

Another option is to buy with a friend or family member as joint applicants, but then you are subject to the 100k combined limit. If your incomes are modest, that can work well. I know a pair of teachers who went halves on a house in Cork using the First Home Scheme Ireland. They were both on 45,000 euro each, combined 90,000, so under the limit. "It was the only way we could afford a house in our hometown," one of them told me. "Fair enough, we have to share a bathroom, but it is our own place."

Final thoughts and your next steps

Look, the income limits for the First Home Scheme Ireland are straightforward once you know them: 65,000 for singles, 100,000 for joint applicants. But do not assume you are automatically out if you earn a bit more. There are exceptions for "fresh start" applicants, and the scheme has been reviewed over time. Anyway, if you think you qualify, the first step is to get your finances in order and speak to a mortgage broker or a bank. Then start browsing. You can register on Findivo to get alerts on new builds in your area. Also, check out our listings for rental properties if you need a place while you save, or cars for sale if you need reliable transport for the commute. The road to home ownership is never a straight line, but with the right info, it is manageable.

To be honest, the most important thing is to start early. Siobhan, my mate from earlier, ended up qualifying after she switched jobs to a lower paying but more stable role. She bought a two bed in Kildare using the scheme. "It was a pain, but worth it," she said. So get your salary sorted, check the income limits, and take the leap. The First Home Scheme Ireland is a real help if you fit the profile. Good luck out there.