I'm buying my own home

Our guide will provide you with the starting blocks and best tips for buying your own home.

Housing loan

  • Why should I buy my own home?

    Buying a home is an investment that enables you to accumulate wealth. Instead of paying monthly rent to a landlord, you pay yourself for your home each month.

    You can also furnish and renovate your own home to your own taste. When you rent, you usually need to ask the landlord before you can carry out even minor changes such as painting the walls.

    When life situations change, owner-occupied housing and a housing loan are more flexible than a landlord. If you go travelling, you can let your own home for a longer or shorter period and then return to it. And if by chance you decide not to return to your own home, you can always sell it.

    You can apply for instalment-free periods for the loan to give your finances flexibility. If needed, you can apply for instalment-free periods using the loan change form.

  • Chart your own financial situation

    Determine you income, expenses and assets. You will then know how much you can spend on housing and buying a home.

    The bank assesses everyone’s personal situation and many things, such as income, expenses, liabilities, own savings and available collateral, affect your ability to get a housing loan.

    The most important thing is that your ability to repay the loan is in order. In addition to this, you will also need your own savings or other collateral. We think it’s important that the loan suits your life so that you can also do other things that important to you and prepare for the future in a smart way.

  • You need your own savings

    To be granted a loan, you usually need to have your own savings or be able to provide additional security for the loan. In major towns, the home can serve as collateral for a maximum of 70-80% of the purchase price. If you need a bigger loan than this, for renovation for example, you will also need additional collateral accordingly.

    The amount of your own savings or additional collateral you need will depend on the home you are buying and usually amounts to around 20–30 % of the purchase price.

    The parents’ home or other property is most often used as the additional collateral or you can buy a Loan guarantee from an insurance company.

    A loan cap also determines the amount of the housing loan granted, which for the buyer of a first home is at most 95% of the collateral provided for the loan. This means first-time buyers must have at least 5% of the purchase price in the form of own savings or other collateral. For buyers other than first-time home buyers, the amount of the loan may not exceed the value of the loan cap provided as collateral for the loan.

    For example:
    The buying price of the home is €200,000. Based on the above percentages, the home can serve as collateral for a loan of €140,000-€160,000. In addition to the home purchased, you will also need your own savings or other collateral of around €40,000–€60,000 for the loan.

  • Apply for a loan offer in good time

    Few people are able to buy their own home without a loan so don’t hesitate to contact us. You can start by completing the online loan application form even if you are only planning to buy a home. We will then contact you. An initial loan offer does not commit you in any way but will nevertheless give you some idea of the type of home you can start looking for.

    Apply for loan

  • Get the right amount of housing loan

    A housing loan is always a major financial decision, which means it is important that it matches your economy as well as possible so that you can realise your other dreams and also prepare for the future at the same time. There’s no point in living in the house of your dreams but missing out on everything else because of the housing loan.

    A housing loan will commit you for many years, which is why it makes sense to think about the amount of the repayment instalments so that you can also save at the same time. Monthly saving in a fund is an easy way to invest long term. And when you start to save in good time, you can build up decent nest egg.

    Learn about our saving and investing services

    When you begin life in your new home, it’s important that you monitor your own financial situation so that you can keep within the budget you have planned. And if your life situation changes, remember to take advantage of the flexibility options for the loan. You can always contact the bank if you are concerned about your financial situation.

  • Follow the development of your financial situation

    When you start planning life in your new home, it is important that you also monitor your new financial situation so that you stay within the economy you planned. If there are changes in your life situation, remember to make use of the flexibility options for the loan. You can always contact the bank if you are having doubts about your life situation.

See also


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