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US Mortgage for Irish Buyers: Employment Detail Summary and EUR/USD Strategy

Irish buyers face the same foreign national mortgage path as UK and German buyers: no US credit history, EUR-denominated income, and a need for documentation that translates into terms US lenders recognize. The Employment Detail Summary (the document Revenue Ireland issues through MyAccount, which replaced the paper P60 in 2019) is the Irish equivalent of the US W-2. US foreign national lenders accept it readily — no translation needed since it’s issued in English.

The Employment Detail Summary: Ireland’s P60 Replacement

Since January 2019, Ireland’s PAYE Modernisation replaced the annual P60 with the Employment Detail Summary (EDS). Irish employees access their EDS through Revenue’s MyAccount online portal. For US mortgage purposes: (1) Download the EDS for the two most recent tax years from MyAccount. (2) The EDS shows gross income, tax paid, USC, and PRSI. US foreign national lenders accept it as the equivalent of a W-2. (3) Self-employed Irish buyers use Form 11 or Form 12 (Irish income tax return) and the Notice of Assessment from Revenue. (4) No certified translation needed — the documents are in English. This is a genuine advantage for Irish buyers over German or French buyers whose documents require translation and certification.

Irish Bank References and Foreign National Mortgage

For non-resident Irish buyers: (1) Reference letter: AIB, Bank of Ireland, Permanent TSB, or Ulster Bank (now Revolut Bank in Ireland). Request the letter specifically as a “bank reference for US mortgage purposes”. (2) Bank statements: 3–6 months. (3) ITIN: apply via Form W-7. Allow 7–11 weeks before the mortgage application. (4) Down payment: 25–40%. (5) DSCR alternative: Irish investors buying US rental property can qualify on US rental income alone. No EDS or Irish bank documentation required. Down payment: 25–30%.

EUR/USD Strategy for Irish Down Payment Transfers

EUR/USD is the same exchange rate Irish and German buyers manage. The approach is identical: (1) Open an OFX, Wise, or Moneycorp account before the property search. (2) Lock a forward contract when EUR/USD is favorable. On a €200,000 down payment, a 3% rate improvement vs AIB saves €6,000. (3) Wire to US escrow 7–10 days before closing. Ireland has no capital controls on outbound property purchase transfers. No special approval needed from Revenue or Central Bank of Ireland for property purchase wires.

Guides: US Mortgage for Irish Buyers — Find an Agent

Frequently Asked Questions

What is the Employment Detail Summary and how does it help Irish buyers?

Ireland's replacement for the P60, issued through Revenue's MyAccount since 2019. Shows annual income, tax, USC, and PRSI — accepted by US foreign national lenders as the Irish equivalent of a W-2. Already in English — no translation needed.

What down payment do Irish buyers need for a US mortgage?

25-40% for non-resident Irish buyers on a foreign national mortgage. Or 25-30% for a DSCR investment loan (qualifies on US rental income, no Irish docs needed).

What is the best way to transfer EUR to USD for an Irish buyer?

OFX (2-4% better than AIB/Bank of Ireland), Wise, or Moneycorp. Open the account before the property search. Lock a forward contract when EUR/USD is favorable.

Does the Irish P60 still exist?

No. The P60 was abolished in January 2019 under PAYE Modernisation. Irish workers now access their Employment Detail Summary through Revenue's MyAccount portal.