ASP loan

The key to your first home

  • An ASP account gives you an additional benefit as interest bonus on the savings
  • A state guarantee for home loan, which means that you may not necessarily need additional collateral
  • Loan possible through savings on the ASP account

Apply for an ASP loan

Information about the loan

  • Basic features

    Basic features

    An ASP loan is part of the ASP system, intended for buying your first home. You are entitled to an ASP loan if you have opened an ASP account and accumulated money for your first home according to plan. When you buy the home and the terms of the ASP savings agreement are met, you get a state guarantee for the home loan, the basic interest rate of 1% from Danske Bank and an interest bonus of 4% for your savings.

    Read more about the ASP account and its terms: ASP account

  • Terms of an ASP loan

    Terms of an ASP loan

    An ASP loan consists of a subsidised-interest loan and a possible additional loan. The statutory maximum amount of the subsidised-interest loan depends on the municipality where the home is located.

    Municipality of dwelling, maximum loan amount/€

    • Helsinki, 180,000
    • Espoo, Vantaa and Kauniainen, 145,000
    • Other municipalities, 115,000

    • With the interest subsidy, you are protected against potentially increasing interest levels. The state subsidises your loan interest by 70% for the part in excess of 3.8% during the first 10 years of the loan
    • The interest subsidy and loan term for the additional loan are agreed separately for each customer
    • Usually the home you are about to buy together with the state guarantee for home credit are sufficient collateral for ASP funding

Tips and advice

  • Plan your saving

    By regularly accumulating money on your ASP account, you will gain good interest and manage your finances in a planned way.

    The home loan must be one that enables you to live normally. Contact us so that we can plan together a loan that suits your economy.

    Examples
    1. If you start saving immediately and, during two years, save €1,500 each quarter, then you will have €12,000 saved at the end of two years. The amount of the loan is €108,000. The price of the dwelling is €120,000. Danske Bank will pay a bonus interest of 4% on your savings in addition to the regular 1% interest rate.

    2. If you save €650 monthly for two years, you will have accumulated €15,600, in which case the price of your home can be €156,000. In this case, you will already reach the maximum limit for an interest-subsidised loan in such a way that the loan will be divided into a subsidised-interest ASP loan and an additional loan.

  • Interest deduction

    The interest on a loan taken for buying or renovating a regular dwelling may be partially deducted in taxation. The amount of deficit deduction made from income based on the interest on a loan taken out for purchasing a first home is slightly increased for the year during which you started using the first home and for the subsequent nine years.

  • Into your first own home
    If you are not yet at the stage of buying the first home where you would like to apply for or disburse a loan, you can visit open houses and then come and have a word at a meeting. We will then think together how you could reach your first own home.
    Welcome to the meeting: Book an appointment
  • More flexibility with savings

    A home loan is a commitment of several years. This is why you should set the instalment pace in such a way that you can also save, have the flexibility to fulfil other purchases and wishes and prepare for the future. Even a small monthly amount can grow into a proper sum over the years.

  • Assessing the financial state of the housing company

    Different housing companies are at different stages of their lifecycle. Their maintenance has required and will continue to require different measures, which you should be aware of when making the purchase decision and estimating your future living expenses. Our loan experts will be glad to assist you also with the assessment of the financial state of the housing company. We will tell you what to pay attention to in your specific case and what the various items in the financial statement and other official documents of the housing company mean.

  • Assessing the financing need for aesthetic repairs at home

    The new dwelling must look like your own home. The changes and aesthetic repairs that you want should be considered when you are estimating the overall financing need.