Applying for a housing loan and making changes
- How do I apply for a home loan?
- You can apply for a home loan by filling in an application onlineOpens new window. If you are applying for a joint loan, both applicants have to confirm the application separately with their personal access codes.
- Once we have processed your application, you will get a home loan offer from us, which also serves as a loan commitment. Our commitment to fund your home loan is valid for six months, but the offered price is only valid for one month.
- With the promise of a loan in hand, you can make an offer on a new home right away. A loan commitment from us will speed up the final sale and give you an advantage if you are bidding against other homebuyers.
- You are not obliged to take out a loan from Nordea if you submit a loan application and get a loan commitment from us.
- Do I need to have savings of my own when applying for a home loan?
If you are a first-time home buyer, you need to have saved at least 5% of the cost of the home you’d like to buy. Other buyers need to have saved 15% of the cost of the home.
The maximum home loan amount you may be granted is determined by a loan cap set by the Finnish authorities. For a first-time home buyer, it may be no more than 95% of the value of the collateral provided for the loan and for other buyers no more than 85%.
The standard collateral value of the home is 75% of the purchase price. This means that if the loan amount exceeds 75% of the value of the home, you need to provide additional collateral or have more savings.
If you don’t have enough savings or additional collateral, you can purchase an OwnGuarantee from Nordea.
Read more about collateral for a home loan.
- How can I change the monthly repayment of my loan?
With FlexiPayment you can either reduce or increase your monthly repayment in mobile bank or Netbank. If you do not yet have FlexiPayment attached to your housing loan, you can apply for it hereOpens new window. If you wish to make an extra amortisation as an immediate debit, our Customer Service will help you. Please call 0200 70 000 and identify yourself for quicker service at the beginning of your call.
- How can I make changes to my current home loan?
You can change the features of your loan by applying for a change to the repayment schedule. You can apply for a change to:
- the payment day
- the monthly payment
- the repayment method
- the servicing account or
- the reference rate.
You can also request the FlexiPayment feature or interest-free months. To make changes to your loan during the loan period, open your loan details in Nordea Netbank and select “Apply for changes”Opens new window.
In Nordea Mobile, go to Overview -> Loans -> open your loan details and select “Apply for changes”.
- How can my co-applicant confirm a home loan application?
The co-applicant can confirm your home loan application using this online formOpens new window.