How much can I borrow for a home?
In just a few minutes, you can take the test and get an indication of how much you can get in mortgage.
Er du klar for å kjøpe ny bolig?
Se hva som er mulig med din økonomi, og hvordan du kan oppnå boligdrømmen. Uansett resultat - snakk med en rådgiver! Få tips og bli klar for å kjøpe egen bolig.
What is required to get a mortgage?
To get a mortgage, you must have debt-servicing capacity, willingness to pay, security and equity.
This must be seen in the context of the Lending Regulations that banks in Norway are governed by. This means:
- The main rule is that you cannot borrow more than five times your income. This applies to total loans including student loans, consumer loans or other loans you have.
- You must be able to service an interest rate increase on the loan of three percentage points.
- The main rule is a minimum of ten per cent equity for home purchases.
Debt-servicing capacity
You must have a regular income that demonstrates you can service the loan, even if the interest rate increases by three percentage points. We assess whether you have enough left to pay interest and instalments after all other bills and expenses have been paid.
Willingness to pay
We assess your willingness to pay. This means that even if you have a high income, you may be declined if you do not pay your bills. A credit check is carried out for all loan applications. Counterparty letters can be found in your inbox in the online bank. If you have payment defaults, you will not be granted a loan.
Equity
When buying a property, you must have a minimum of 10 per cent equity. In other words, the home loan you apply for can be a maximum of 90 per cent of the property's purchase price. If you have not saved enough equity yourself, it may be possible to obtain a secured guarantee if, for example, your parents can provide security in their property for part of the amount.
Transfer your mortgage to us
Do you have a mortgage with another bank and would like to receive an offer from us?
Mortgage
When you need to buy a new home, we provide you with help and advice throughout the entire process.