Rebuilding Ireland Mortgage

[EvenStevens]

Thanks @EvenStevens. I'd be quite interested to know how to estimate the MPI - I asked DCC several months before my application and they were vague. I seem to recall a ballpark of about 10% of the monthly payment would comprise MPI. Does this sound about right?

I didn't factor MPI into the figure I requested. My assumption was I should use the online calculator as a ballpark, and that the underwriter would advise an amount if lower. Perhaps I'm being naive but it seems a little unlikely to me that the MPI element alone would cause my application to be turned down. Regardless it does seem wise to factor in properly so thanks for this suggestion. Could you advise any online home loan calculators where MPI is included?

I do plan to go back to DCC to enquire, but I wanted to inform myself beforehand - hence posting in this thread.

I haven't posted on askaboutmoney.com before this thread. I see "hijacking" threads is discouraged. Would it be fairer/normal practice for me to start a new thread, giving a summary of my finances and the key details in my RI application?

Hi, I just looked back at my documentation. I think I only knew exactly how much the MPI would be when i got the approval from DCC. They sent me a letter outlining the terms they could offer, monthly repayment, MPI and totalled it. It probably will be 80-90 per month at least.

I'm not sure if I can mention another Forum on here so please remove Mods if necessary but you might be better off trying Boards.ie.
There is a great forum on there that I used a lot when I was going through the process. All people using the scheme or trying to use it!. Just type in Rebuilding Ireland and it should come up.

 

[Curtley-Óg]

Hi, I just looked back at my documentation. I think I only knew exactly how much the MPI would be when i got the approval from DCC. They sent me a letter outlining the terms they could offer, monthly repayment, MPI and totalled it. It probably will be 80-90 per month at least.

I'm not sure if I can mention another Forum on here so please remove Mods if necessary but you might be better off trying Boards.ie.
There is a great forum on there that I used a lot when I was going through the process. All people using the scheme or trying to use it!. Just type in Rebuilding Ireland and it should come up.

Thanks very much @EvenStevens. That's useful regarding the MPI estimate and checking Boards.ie.