Mortgage
Whether you're buying your first home, moving to a larger property, refinancing an existing mortgage, or transferring your loan from another bank, we're here to help.
Do you have questions about getting a mortgage?
We are here to help. Choose the way that suits you best, whether you would like to send us a message, talk to an adviser, meet us in person, or speak with us over the phone.
Frequently Asked Questions
Norwegian lending regulations set the framework for how much you may be eligible to borrow for a mortgage. As a general rule, you must provide at least 10% equity (down payment), and your total debt cannot exceed five times your annual gross income.
Lenders must also assess whether you can manage higher borrowing costs if interest rates increase. Today's affordability assessment typically includes the ability to withstand an increase of at least 3 percentage points in your mortgage rate, or a minimum interest rate of 7%.
While it's important to understand how much you can borrow, it's equally important to consider how much you should borrow. Your mortgage should fit comfortably within your household budget, both today and in the years ahead.
Remember: homeownership should support the life you want to live, not put unnecessary pressure on your finances. A mortgage is a long-term commitment that should remain manageable through changing circumstances.
The amount you can borrow depends on your individual financial situation. Our advisers can help you explore your options and find a solution that suits your needs.
Want an indication of your borrowing capacity right away? Try our mortgage calculator (Norwegian language only) to estimate how much you may be able to borrow.
As a general rule, banks in Norway cannot lend more than 90% of a property's purchase price. This means you will typically need a down payment of at least 10% when buying a home.
In addition to your down payment, you must also cover the purchase costs. The amount depends on the type of property you buy.
Freehold Property
For a freehold property, you must pay a document duty of 2.5% of the purchase price to the Norwegian government, as well as smaller registration fees for transferring ownership and registering the bank's security interest.
Housing Cooperative Property
For properties purchased within a housing cooperative, transaction costs are significantly lower and are typically around NOK 5,000.
For example, if you purchase a detached house for NOK 4 million, you would normally need NOK 400,000 in down payment. In addition, you should expect approximately NOK 100,000 in transaction costs.
Savings for Young People (BSU)
Funds saved through Norway's BSU (Home Savings Scheme for Young People) can be used as part of your down payment when purchasing a home. Please note that once you start using your BSU savings, you generally cannot continue making new contributions to the account, except for funds already saved during the current tax year.
When interest rates rise, your mortgage costs will increase, which means higher monthly repayments.
You can use our mortgage calculator to estimate how a rate increase could affect your loan. Simply enter your loan amount and repayment period to see how changes in the interest rate may impact your monthly costs.
When assessing a mortgage application, we take into account your ability to manage higher interest rates in the future. As a general rule, borrowers must be able to handle an increase of at least three percentage points above current rates, or a mortgage rate of at least 7%.
While rising interest rates may affect your monthly budget, you have already been assessed with this type of scenario in mind. Even so, it's a good idea to understand how future rate changes could impact your personal finances and financial goals.
What Can You Do Now?
If you expect your mortgage repayments to increase in the future, consider setting aside the difference in a separate savings account today.
This can offer two important benefits:
- You will get used to higher monthly housing costs and reduce unnecessary spending.
- You will build a financial buffer that can help cover future increases in mortgage expenses.
Stay on Top of Your Finances
During periods of rising interest rates, having a clear overview of your finances becomes even more important. Understanding where your money goes can help you identify opportunities to save and prepare for higher living costs.
Our digital banking tools make it easier to track spending, manage your budget, and stay in control of your finances.
How Much Can I Lend?
Our mortgage calculator helps you estimate how much you may be able to borrow and what your monthly mortgage payments could be.
The calculator is in Norwegian and gives an idea of how much your cost will be in Norwegian currency.