New Affordability Calculator – Dundalk Credit Union

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Topic
Lead Reference
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Interest Rate
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Monthly Interest
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max-borrowing
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Number of Applicants*
- One
- Two
Your Income
Tell us about your salary and other income.
Net Monthly Salary After Tax*
Do you receive any additional income(s)?
- No
- Yes
Does either applicant receive any additional income(s)?
- No
- Yes

Additional Incomes

Please list additional incomes and the monthly amount received from them here. Use the "+" symbol to add more income types.

Income Type	Monthly Amount

Commitments
Tell us a little about your fixed monthly outgoings.

Monthly Liabilities

These are fixed payments you make every month such as rent, mortgage, loan repayments etc. but not discretionary expenses such as groceries etc. You can add as many as necessary by clicking the "+" icon.

Expense Type	Monthly Amount

Do you have any children or dependants?*
- No
- Yes
Number of Dependants and/or Children*
Please enter any monthly childcare costs (if any)
Creche, childminder, etc.
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Monthly Liabilities Total
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Total Monthly Income
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Total Monthly Commitments
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NDI for one Applicant
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NDI for two Applicants
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Required Monthly NDI per Application
Sum of NDI for one applicant and for two applicants
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Additional Monthly NDI per dependent
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Total Required NDI
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AVAILABLE NDI
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Maximum Monthly Repayment
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Debt Service Ratio
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Maximum Debt Service Ratio (%)
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Maximum Monthly Repayment ECHO
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Maximum Allowable Monthly Repayment
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Maximum Monthly Repayment for Calculation
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NDI RULE LOGiC
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If Max monthly repayment is 0 or less
stop
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Else then Max Monthly Repayment
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Sum of NDI conditions
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DSR RUle Logic
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If Max monthly repayment is 0 or less
stop
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If DSR is greater than Maximum DSR
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Sum of DSR Outputs
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Both Rules Satisfied
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NDI Rule+ DSR Rule Divided by two
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Is (NDI Rule+ DSR Rule Divided by two) the same as Max Repayment?
1=yes Anything else is a no
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Yes, NDI +DSR equals max repayment
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No, NDI +DSR does not equal max repayment
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Sum of Yes and No (both rules satisfied or not)
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Lesser of Rules
Show lesser of NDI Rule or DSR Rule. If NDI is > DSR then difference is greater than 0 so show DSR If 0 then show DSR (it doesn't matter as they're both the same) If less than zero then DSR
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Difference of RUles (NDI-DSR)
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Show DSR
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Show NDI
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Lesser of Rules
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echo months
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Backend Calculation for reverse loan calc
If both rules satisfied is yes (1) then show the maximum monthly payment for calculation If both rules satisfied is No (0) show the lesser of the rules
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Maximum monthly Repayment for calculation
Echoes lesser of rules from NDI and DSR
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Available Equity
Will be hidden. Formula is (Home value less mortgage balance) plus any savings offered as equity or deposit for first timers.
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Show Lesser of the rules DELETE
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Total GROSS Annual Income
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Max LTI
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Maximum Borrowing under LTI Rule
Max LTI times Total Annual Income
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Maximum Borrowing under LTV Rule
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Test for Lesser of LTI or LTV
LTI - LTV
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ECHO LTI
If Test for Lesser of LTI or LTV is minus integer or 0 then LTI is echoed
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ECHO LTV
If Test for Lesser of LTI or LTV is positive integer then LTV is echoed
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Maximum Borrowing (LTI versus LTV)
Lesser of LTI and LTV
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Maximum Borrowing (based on lesser of rules and maximum term)
PV Calculation using maximum term and maximum monthly repayment (lesser of rules)
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Test for lesser of Max Borrowings
Maximum Borrowing (LTI versus LTV) less Maximum Borrowing (based on lesser of rules and maximum term)
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Echo Maximum Borrowing (LTI versus LTV)
If Difference from test of lesser of Max Borrowings is 0 or less than 0
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ECHO Maximum Borrowing (based on lesser of rules and maximum term)
If Difference from test of lesser of Max Borrowings is greater than 0
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Maximum Borrowing Possible
The lesser of LTI and LTV or the lesser of NDI and DSR Rule
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Borrow 12
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Borrow 12
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Borrow 24
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Borrow 36
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Borrow 48
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Borrow 60

Term	Amount
12 Months	€
24 Months	€
36 Months	€
48 Months	€
60 Months	€

Your Income

Commitments

NDI RULE LOGiC

DSR RUle Logic

Both Rules Satisfied

Lesser of Rules

Backend Calculation for reverse loan calc

How Much You Could Borrow

Based on your responses, the maximum monthly repayment you could afford is €

To start an application, use the calculator below to set an amount and repayment term

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